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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) All eyes are now on the central bank’s statement at the end of its two-day policy meeting on Wednesday. A separate report showed U.S. retail sales dropped more than expected in May. However, the S&P 500 has been broadly stuck within a range, despite recording its 29th record-high finish of 2021 on Monday, versus 33 for all of last year. The S&P 500 posted 36 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 87 new highs and 21 new lows.
Persons: spooked, , Ed Moya, , they’re, Dow Jones, David French, Shashank Nayar, Medha Singh, Maju Samuel, Dan Grebler Organizations: Boeing, Dow, Nasdaq, Treasury, Americas, Dow Jones, Exxon Mobil Corp, Mar, European Union, Airbus, Lordstown Motors Corp Locations: wean, OANDA, United States, New York, Bengaluru
But robust demand is outpacing supply, stoking inflation, with several recent readings of inflation gauges - including the producer price index released on Tuesday - signaling rising price pressures. “The U.S. dollar kept firm as another hot reading on inflation overshadowed a chilly consumer,” said Joe Manimbo, senior market analyst, at Western Union Business Solutions in Washington. The Fed’s two-day meeting was set to end on Wednesday and it is due to issue a policy statement afterward. Recent economic data has raised concerns that price pressure could force an earlier stimulus withdrawal. Musk on Sunday flagged that the carmaker could resume transactions using the token if miners can use cleaner energy to process them.
Persons: , Joe Manimbo, Jerome Powell, bitcoin, MicroStrategy, Elon Musk Organizations: Traders, U.S, U.S . Federal, Western Union Business Solutions, BofA Global Research Locations: U.S ., Washington
CANADA FX DEBT-Canadian dollar hits 7-week low, pressured by Fed uncertainty
  + stars: | 2021-06-15 | by ( Fergal Smith | ) www.reuters.com sentiment -1.00   time to read: +2 min
The loonie was trading 0.4% lower at 1.2192 to the greenback, or 82.02 U.S. cents, after earlier touching its weakest level since May 6 at 1.2204. Earlier this month, it touched its strongest in six years at 1.2007. Canadian housing data for May was mixed. Canadian consumer price data is due on Wednesday, which could offer clues on the Bank of Canada policy outlook. On Monday, it touched its lowest intraday level in more than three months at 1.365%.
Persons: Fergal Smith TORONTO, We've, Edward Moya, Moya, Fergal Smith, Jonathan Oatis, Peter Cooney Organizations: Canadian, U.S, Federal Reserve, Oil, Housing, Bank of Canada Locations: New York, pare, Canada
(Reuters) - Yield spreads on U.S. corporate high-yield bonds are unlikely to tighten much beyond the current levels due to the credit market’s composition and a possible rise in interest rates, according to asset manager Amundi. REUTERS/Philippe Wojazer“Spreads can go tighter, though not meaningfully tighter,” Ken Monaghan, co-head of high yield at Amundi U.S. told the Reuters Global Markets Forum on Tuesday. Amundi’s Monaghan pointed to BB-rated bonds comprising a greater share of the high yield market as a primary reason why spreads are unlikely to tighten significantly. “If nominal rates were to move meaningfully higher on an eventual Federal Reserve move, would those ... who have ‘vacationed’ in high yield return to their home markets? Monaghan said the Fed’s moves have had a less dramatic impact on high yield debt, with even a hawkish tone from the central bank not pushing up spreads significantly.
Persons: Philippe Wojazer “, Ken Monaghan, Treasuries, Amundi’s Monaghan, ” Monaghan, Monaghan Organizations: Reuters, Amundi, REUTERS, Reuters Global, Reserve, Fed, Reuters Global Markets Locations: Paris, France
TREASURIES-Yields steady before Fed meeting statement
  + stars: | 2021-06-15 | by ( Karen Brettell | ) www.reuters.com + 0.00   time to read: +3 min
“There are some expectations surrounding the extent to which the Fed will discuss tapering,” said Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets in New York. By raising the IOER, the Fed can ease some downward pressure on short-term rates. Some analysts say the Fed is unlikely to make any adjustments unless the fed funds rate falls below 5 basis points, which it has so far held above. The fed funds rate was at 6 basis points on Monday. She noted that a $3 billion reduction in the auction's size from May likely helped to boost interest.
Persons: Karen Brettell, Jackson, , Ian Lyngen, Lyngen, Kim Rupert, Dan Grebler Organizations: Treasury, Federal, BMO Capital Markets, Fed Locations: U.S, New York
NEW YORK (Reuters) - From lumber prices to wages and inventories: Reading the clues around inflation has turned into an investor obsession. As investors assess the risks of rising prices to financial markets, however, some think the biggest gains in inflation are already in the rear-view mirror. Koesterich thinks inflation will likely run above trend lines well into 2022 given the bottlenecks in global supply chains. Investors who bet on inflation typically move into groups better-positioned to weather price rises, like materials and energy and companies with pricing power. REASONS TO WORRYWhile the majority of investors believe inflation is transitory, according to a Bank of America fund manager survey, worries remain.
Persons: Leah Millis, , Russ Koesterich, Koesterich, Jeff Mayberry, ” Mayberry, Ernesto Ramos, Morgan Stanley, Michael Wilson, Greg Wilensky, Janus Henderson, Wilensky, “ I’m, ” Paul Tudor Jones, ” Morgan, James Gorman, Mohamed El Organizations: YORK, Federal Reserve Board, REUTERS, Employers, Fed, BMO Global Asset Management, Bank of America, U.S, Securities, Tudor Investment Corp, CNBC, ” Morgan Stanley, Allianz, Locations: Washington , U.S, Treasuries
COLUMN-Faster U.S. wage rises will help entrench inflation: Kemp
  + stars: | 2021-06-15 | by ( John Kemp | ) www.reuters.com + 0.00   time to read: +7 min
However, it will also fuel faster inflation and probably force the Federal Reserve to scale back its bond buying programme and raise interest rates earlier than top policymakers have indicated so far. More labour market turnover and faster compensation growth will therefore be welcomed by policymakers anxious to repeat the subdued business cycle expansion after the last recession and the ensuing populist revolt. FASTER INFLATIONAccelerating compensation growth is likely to generate faster inflation by increasing consumer incomes and spending power, as well as raising business costs, encouraging firms to restore margins through price increases. Compensation increases running at 2.8% per year should be fast enough to accommodate inflation rates of 2.50-2.75% per year, probably in line with the Fed’s undeclared target. The problem will come if compensation increases continue to accelerate, sustain a faster rate of inflation and perhaps even push it higher.
Persons: John Kemp, Lawrence Summers, Emelia Sithole Organizations: Federal Reserve, U.S . Bureau of Labor Statistics, BLS, White House Council, Economic Advisers, Fed, U.S . Treasury, Reuters Locations: United States, Europe
PRECIOUS-Fed taper talk fears keep gold locked in tight range
  + stars: | 2021-06-15 | by ( Nakul Iyer | ) www.reuters.com + 0.00   time to read: +2 min
Spot gold edged 0.1% lower to $1,864.86 per ounce by 10:00 a.m EDT (1400 GMT), while U.S. gold futures rose 0.2% to $1,868.70. Any hint of tapering discussions or presence of hawks in the meeting could deal a blow to gold prices, potentially dragging them below the $1,855 level, Lukman Otunuga, analyst at FXTM, said in a note. On the physical front, consultants Metals Focus said decreased buying of bullion by exchange traded funds could limit gold demand this year. Meanwhile, data showed U.S. retail sales falling more than expected in May, while producer prices rose more than expected. Elsewhere, silver shed 0.7% to $27.63 per ounce, platinum fell 1.5% to $1,147.65, while palladium rose 0.3% to $2,759.45.
Persons: , Bob Haberkorn, Otunuga, RJO’s Haberkorn, Nakul Iyer, Steve Orlofsky Organizations: Fed, Metals, U.S . Federal, Metals Focus Locations: pare, Bengaluru
PRECIOUS-Gold falls on bets U.S. Fed may outline taper plan
  + stars: | 2021-06-15 | by ( Nakul Iyer | ) www.reuters.com sentiment -1.00   time to read: +2 min
Spot gold fell 0.6% to $1,854.24 per ounce by 12:30 pm EDT (1630 GMT), while U.S. gold futures were down 0.5% at $1,856.40. Meir said while gold could face a “short-lived” setback if the Fed begins tapering by end-2021 or even hints at it on Wednesday, bullion will likely be bought “on the dips” on concerns over rising inflation. On the physical front, consultants Metals Focus said decreased buying of bullion by exchange traded funds could limit gold demand this year. Meanwhile, data showed U.S. retail sales fell more than expected in May, while producer prices rose more than expected. Elsewhere, silver slipped 1.3% to $27.47 per ounce, platinum fell 1.6% to $1,146.53 , while palladium rose 0.4% to $2,760.68.
Persons: , Edward Meir said, Meir, Bob Haberkorn, Nakul Iyer, Steve Orlofsky, Jane Merriman Organizations: Metals, U.S . Federal, F Man Capital, Fed, Metals Focus, RJO Futures Locations: pare, Bengaluru
US STOCKS SNAPSHOT-Wall St subdued at open with Fed meeting in focus
  + stars: | 2021-06-15 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
June 15 (Reuters) - Wall Street’s main indexes were largely unchanged at the open on Tuesday as investors awaited cues from the Federal Reserve this week about whether a recent jump in inflation would prompt a sooner-than-expected tapering in monetary policy. The Dow Jones Industrial Average rose 3.35 points, or 0.01%, at the open to 34,397.10, the S&P 500 opened higher by 0.13 points, or 0.00%, at 4,255.28, while the Nasdaq Composite dropped 7.51 points, or 0.05%, to 14,166.64 at the opening bell. (Reporting by Shashank Nayar in Bengaluru; Editing by Maju Samuel)
Persons: Shashank, Maju Samuel Organizations: Federal Reserve, Dow Jones, Nasdaq Locations: Bengaluru
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) The benchmark S&P 500, the blue-chip Dow Jones and the tech-stocks focused Nasdaq have gained 13.3%, 12.3% and 10%, respectively so far this year, largely driven by optimism about an economic reopening. ET, Dow e-minis were up 17 points, or 0.05%, S&P 500 e-minis were up 4 points, or 0.09%, and Nasdaq 100 e-minis were up 10 points, or 0.07%. Drug developer Ocugen jumped nearly 20% as it prepares for potential commercial manufacturing of the Covaxin for the U.S. and Canadian markets. Halliburton Co, Occidental Petroleum Corp and Exxon Mobil added between 0.8% and 1.7% as oil prices hit multi-year highs on positive demand outlook.
Persons: Dow Jones, , Larry Adam, Raymond James, , Ocugen, Shashank, Maju Samuel Organizations: U.S, Dow, Nasdaq, Federal Reserve, Treasury, Dow e, Biogen Inc, Halliburton Co, Occidental Petroleum Corp, Exxon Mobil Locations: U.S, pare, Bengaluru
The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021. Data showed an acceleration in producer prices last month as supply chains struggle to meet demand that is being unleashed by the reopening of the economy. Energy stocks (.SPNY) added 1.5% as oil prices hit multi-year highs on positive demand outlook. Declining issues outnumbered advancers for a 1.64-to-1 ratio on the NYSE and for a 2.28-to-1 ratio on the Nasdaq. The S&P index recorded 31 new 52-week highs and one new low, while the Nasdaq recorded 66 new highs and 17 new lows.
Persons: Carlo Allegri, Ocugen, Sam Stovall, Dow Jones, advancers, Shashank, Maju Samuel Organizations: New York Stock, REUTERS, U.S, Dow, Nasdaq, Federal, Assurance, Treasury, CFRA, Dow Jones, Energy, Biogen Inc, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, United States, Canada, Bengaluru
N.Y. Fed's Empire State manufacturing business index declines in June
  + stars: | 2021-06-15 | by ( Evan Sully | ) www.reuters.com sentiment -1.00   time to read: 1 min
A worker pours hot metal at the Kirsh Foundry in Beaver Dam, Wisconsin, U.S., April 12, 2018. REUTERS/Timothy Aeppel/File PhotoThe New York Federal Reserve said on Tuesday its barometer on manufacturing business activity in New York state declined for a second consecutive month in June. The regional Fed's "Empire State" index on current business conditions fell seven points to 17.4, lower than a reading of 23.0 forecast among analysts polled by Reuters. A reading above zero signals the New York manufacturing sector is expanding. The survey's six-month outlook gauge rose eleven points to 47.7.
Persons: Timothy Aeppel Organizations: REUTERS, York Federal Reserve, Reuters, Thomson Locations: Beaver Dam , Wisconsin, U.S, New York, York
Risks Rise to Both the Fed’s Inflation and Employment Goals
  + stars: | 2021-06-15 | by ( Greg Ip | ) www.wsj.com sentiment -1.00   time to read: +2 min
For the first time in years, it faces two-sided risks: Tighten monetary policy too soon and tank the economy, or tighten too late and watch inflation ratchet higher. Because inflation had been running below its 2% target, the Fed wanted inflation to run a bit above 2% so that over time it would average 2%. Near-zero interest rates and bond buying would bolster demand and return unemployment to pre-pandemic levels below 4%. Yet annual consumer price inflation excluding food and energy reached 3.8% in May, the highest in 29 years, and ran at an 8% annualized rate in the past three months. Economists expected some price pressure as the economy reopened, but not this much.
Organizations: Federal, Fed Locations: Suez, Texas
Wall Street retrenches and awaits Fed while oil surges
  + stars: | 2021-06-15 | by ( Pete Schroeder | ) www.reuters.com + 0.00   time to read: +3 min
Wall Street took a step back on Tuesday, with all three major indices dropping after two posted record highs on Monday. U.S. Treasuries held steady, as did the U.S. dollar, with little activity ahead of the Fed policy statement. The continued relaxation of pandemic restrictions helped drive oil prices higher on growing demand as vaccinated people begin to travel more freely. read moreThe MSCI world equity index (.MIWD00000PUS), which tracks shares in 45 nations, fell 0.85 points or 0.12%. Spot gold prices fell $7.7966, or 0.42%, to $1,858.20 an ounce, while U.S. gold futures were down 0.31% at $1,860.30.
Persons: Treasuries, Mike Loewengart, Brent, Thyagaraju Adinarayan, Alun John, Kim Coghill, Alex Richardson Organizations: Treasury, U.S . Federal Reserve, ., Investors, Trade, Dow Jones, Nasdaq, Thomson Locations: HONG KONG, ., London, Hong Kong
Futures hold steady with Fed meeting in focus
  + stars: | 2021-06-15 | by ( Shashank Nayar | ) www.reuters.com sentiment -1.00   time to read: +2 min
The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File PhotoFutures tied to the S&P 500 and the Nasdaq held near record highs on Tuesday as investors looked for comments from the Federal Reserve about whether a recent jump in inflation would prompt a sooner-than-expected tapering in monetary policy. Assurance from the Fed that rising prices are transitory coupled with falling U.S. Treasury yields have helped ease some concerns over inflation but investors remain cautious as they await the Fed's commentary on its inflation stance. ET, Dow e-minis were down 10 points, or 0.03%, S&P 500 e-minis were up 2.75 points, or 0.06%, and Nasdaq 100 e-minis were up 16.75 points, or 0.12%. Later in the day, investors would turn to purchaser price numbers and retail sales data to assess the state of the economy and inflation levels.
Persons: Carlo Allegri, Dow Jones Organizations: New York Stock, REUTERS, Nasdaq, Federal Reserve, Treasury, Dow e, Biogen Inc, Thomson Locations: Manhattan, New York City , New York, U.S, pare
Inflation is the watchword as the Federal Reserve kicks off a two-day meeting on Tuesday. “However, what I will be looking for are any discussions on what could be termed as more permanent inflation,” he said. “I think this is going to be Powell's toughest conference in his career as chairman,” said Dan North, senior economist at Euler Hermes North America. “That’s going to make it a tougher choice because that becomes a huge demographic issue for the Fed,” North said. When you talk about the dual mandate, historically, the Fed has been almost exclusively focused on inflation.
Persons: , Brad McMillan, McMillan, David Norris, Jerome Powell, Powell, ” McMillan, , ” Norris, Dan North, Euler Hermes, Price, “ That’s, “ We’ve, Darren Schuringa, ” Megan Horneman Organizations: Federal Reserve, Commonwealth Financial Network, TwentyFour Asset Management, Federal, School’s Schwartz, for Economic, Fed, Labor, New School, , Verdence Capital Advisors Locations: America
Fed walks tightrope between big jobs gap and rising inflation
  + stars: | 2021-06-15 | by ( Howard Schneider | ) www.reuters.com + 0.00   time to read: +6 min
Powell is scheduled to hold a news briefing after the release of the policy statement and projections on Wednesday. The progress since December has been mixed, and slower than the Fed had hoped. Accompanied with higher inflation, that could begin to shift the thinking of the central bank in how to manage its flexible 2% inflation target. read moreSome policymakers have already signaled they feel the monthly bond-buying program has outlived its usefulness and should be reduced soon. And it would only require two Fed officials to change their views about the timing of a first rate hike to begin to shift "liftoff" into 2023.
Persons: Chris Wattie, Donald Kohn, Kohn, Jerome Powell, Powell, payrolls, Richard Clarida, Krishna Guha Organizations: Federal Reserve, REUTERS, Fed, American Enterprise Institute, New York Fed, Thomson Locations: Washington , DC, U.S, pare, United States
PRECIOUS-Gold in tight range as markets await Fed signals
  + stars: | 2021-06-15 | by ( Arundhati Sarkar | ) www.reuters.com sentiment -1.00   time to read: +2 min
Spot gold was down 0.1% at $1,863.36 per ounce by 0901 GMT, after falling to its lowest since May 17 at $1,843.99 on Monday. Nearly 60% of economists in a Reuters poll said a much-anticipated taper announcement will come in the next quarter. Also on the radar was a slew of data from the United States, including the monthly retail sales data which may provide more clues on economic recovery. Capping gold’s declines, the dollar index weakened 0.1%, potentially increasing bullion’s appeal for those holding other currencies. Elsewhere, silver dropped 0.7% to $27.63 per ounce, palladium rose 0.1% to $2,753.11, while platinum slipped 0.9% to $1,154.69.
Persons: , Michael Hewson, “ It’s, ” CMC’s Hewson, Lukman, FXTM, Arundhati Sarkar, Alexander Smith Organizations: U.S, Federal Reserve, PPI Locations: ., United States, Bengaluru
PRECIOUS-Gold holds tight range as markets await Fed cues
  + stars: | 2021-06-15 | by ( Arundhati Sarkar | ) www.reuters.com + 0.00   time to read: +2 min
Spot gold edged 0.1% lower to $1,863.30 per ounce by 1130 GMT. For the second time in less than a decade, the Fed is getting ready to launch a debate over how and when to sunset a massive asset-purchase program. “It’s just not necessary; that amount of stimulus, at this stage of the economic rebound, so that’s why we’re seeing a little bit of weakness in gold prices over the past two to three days. Elsewhere, silver shed 0.8% to $27.62 per ounce, platinum slipped 0.71 %, to $1,156.74, while palladium rose 0.3% to $2,760.19. (Reporting by Arundhati Sarkar and additional reporting by Arpan Varghese in Bengaluru; Editing by Alexander Smith and Steve Orlofsky)
Persons: , Michael Hewson, “ It’s, ” CMC’s Hewson, OCBC, Lukman, Arundhati Sarkar, Arpan Varghese, Alexander Smith, Steve Orlofsky Organizations: U.S, Federal Reserve, , Fed Locations: ., Bengaluru
June 15 (Reuters) - Chinese blue-chip shares, reopening after a holiday, posted their biggest one-day drop in a month on Tuesday following fierce G7 criticism of Beijing, while broader emerging market equities looked set to snap a three-day streak of gains. Geopolitics weighed too on Turkish assets, with the lira losing 1% after an Ankara-Washington meeting failed to yield breakthroughs. Analysts said emerging market currencies were generally jittery before the U.S. Federal Reserve’s two-day meeting. Strained ties with Washington have also weighed on Turkish markets, with Ankara’s planned purchase of NATO-incompatible Russian S-400 defence systems a particular sticking point. For GRAPHIC on emerging market FX performance in 2021, see tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see tmsnrt.rs/2OusNdXFor TOP NEWS across emerging marketsFor CENTRAL EUROPE market report, seeFor TURKISH market report, seeFor RUSSIAN market report, see
Persons: , Jakob Christensen, Donald Trump’s, Ankara’s, Tayyip Erdogan’s, Joe Biden, Christensen, Biden, Vladimir Putin Organizations: U.S, U.S . Federal, MSCI’s, Fed, Danske Bank, The, Washington, NATO, U.S ., CENTRAL Locations: Beijing, Ankara, Washington, U.S ., MSCI’s Asia, China, Hong Kong, Copenhagen, Russia, Turkey, riskier
(Reuters) -European shares rose for an eighth straight session on Tuesday, driven by optimism over an economic recovery this year, but gains were limited as investors hunkered down ahead of the Federal Reserve’s two-day policy meeting. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 14, 2021. Dovish signals from the European Central Bank on tightening policy have brightened the near-term outlook for risk-driven assets in the continent, along with continued hopes that a steady vaccination program will drive an economic recovery this year. Focus this week will be on the U.S. Federal Reserve’s two-day policy meeting starting Tuesday, where investors will be looking for insight on whether the central bank has begun discussing tapering bond purchases and if policymakers are concerned about rising inflation. Germany’s DAX ended just below all-time highs as data showed consumer prices rose 0.5% month-on-month in May, in line with economists’ expectations.
Persons: , Charalambos Pissouros, Germany’s DAX, Boris Johnson, Sweden’s Organizations: Reuters, Federal, REUTERS, Staff, European Central Bank, U.S, U.S . Federal, JFD, UK, payrolls Locations: Frankfurt, Germany, U.S ., United States, Polish
S.Korean stocks end higher at record close, Fed meeting in focus
  + stars: | 2021-06-15 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
The won was flat, while the benchmark bond yield fell. ** The KOSPI closed up 6.50 points, or 0.20%, at 3,258.63, extending the winning streak to a fourth straight session. ** The won ended at 1,117.0 per dollar on the onshore settlement platform, nearly unchanged from its previous close of 1,116.7. ** In money and debt markets, June futures on three-year treasury bonds fell 0.08 points to 110.80. ** The most liquid 3-year Korean treasury bond yield rose by 1.7 basis points to 1.304%, while the benchmark 10-year yield fell by 2.8 basis points to 2.068%.
Persons: , , Na Jeong, 1,117.0100, Joori Roh, Jihoon Lee, Shailesh Kuber Organizations: U.S, U.S . Federal, Samsung Electronics, SK Hynix, LG, Federal, Market, Cape Investment & Securities Locations: Korea, SEOUL, Korean, U.S .
MORNING BID-No taper trauma in sight
  + stars: | 2021-06-15 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +3 min
Pre-Fed price action would suggest markets aren’t anticipating any big trauma from policy normalisation at the world’s leading central bank. JP Morgan said the upcoming tapering process was unlikely to hurt its bullish view on equities for the second half of 2021. It expects the Fed to start tapering early next year. Meantime in Japan a former Bank of Japan policymaker said the bank must eventually consider ways to unload its huge holdings of exchange-traded funds after tapering bond and ETF purchases. Finally, bitcoin steadied after climbing above the $40,000 mark following remarks from Elon Musk who said Tesla may resume allowing Bitcoin transactions.
Persons: Danilo Masoni, pare, JP Morgan, Lagarde, Bank of Japan policymaker, bitcoin, Elon Musk, Tesla, Philip Lane, Fabio Panetta, Andrea Enria, Andrew Bailey Organizations: Fed, Bank of, Boeing, Airbus, Pfizer, AstraZeneca, hospitalisation Locations: Europe, Asia Pacific, Australia, Japan, Bank of Japan, U.S
Australia, NZ dlrs range-bound ahead of Fed meeting
  + stars: | 2021-06-15 | by ( Paulina Duran | ) www.reuters.com sentiment -0.99   time to read: +2 min
SYDNEY, June 15 (Reuters) - The Aussie and kiwi dollars traded in tight ranges ahead of a much-anticipated Federal Reserve meeting, after Reserve Bank of Australia minutes briefly weighed on the Aussie dollar earlier in the day. The Australian dollar was 0.05% higher at $0.7714. It fell to $0.7696 after the RBA released the minutes from its latest monetary policy meeting. Traders are also keeping an eye on New Zealand’s gross domestic product data due to be released on Thursday. “The NZ economy is expected to remain buoyant over the remainder of this year,” Westpac strategists said.
Persons: Philip Lowe, , David Plank, Ana Nicolaci da Organizations: SYDNEY, Reserve, Reserve Bank of Australia, Traders, New Zealand Banking Group, New Zealand, ” Westpac Locations: U.S, Australia, NZ, Sydney, Zealand, Ana Nicolaci da Costa
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