Global markets edge up ahead of Trump speech, Fed meeting

World Week Ahead: Eyes squarely on Fed

[GBP/] Sterling eased 0.1 percent to $1.3577.

The pan-European FTSEurofirst 300 index closed up 0.1 percent, while MSCI's gauge of stocks across the globe gained 0.20 percent.

Investors will also be watching for signals that the Fed will raise rates in December, and for any clues on personnel changes as the end of Fed Chair Janet Yellen's term approaches and after the resignation of Vice Chair Stanley Fischer earlier this month.

Japan's Nikkei stock index ended 2 percent higher after touching its highest levels since late June, catching up to global equities gains and a weaker yen as Tokyo markets reopened after a public holiday on Monday.

The pan-European Stoxx 600 edged down by around 0.21 percent shortly after the opening bell, with nearly all sectors and major bourses in negative territory.

On Monday, safe-haven currencies were trading lower as United Nations leaders were preparing to kick off a meeting on Tuesday to discuss possible solutions on North Korea's nuclear programs, with the U.S. seeking a peaceful resolution.

Fed funds futures are now pricing in a almost 61% chance of a 25-basis-point increase at the December meeting, putting the federal funds rate at 1.25% to 1.5%.

How the Fed will respond will be closely watched by market participants.

California Lawmakers Approve Sanctuary Bill
California's Democratic political leaders have positioned the nation's largest state as a foil to Trump and his administration. The bill passed 50-26 and was headed back to the state Senate late Friday for final approval before going to Gov.

Prime Minister Shinzo Abe is considering calling a poll for as early as next month to take advantage of his improved approval ratings and disarray in the main opposition party, according to government and ruling party sources. The actual price action, however, will be determined by how much of the news has actually been built into the market.

Gold traders and analysts surveyed by Bloomberg turned bearish for the first time in 13 weeks as dollar recovers and US stocks reached record highs.

But economists and Fed officials say the storms will not affect the underlying trend in growth, which has been steady at around two percent in recent years, and activity should rebound later in the year due to reconstruction efforts. This should make the U.S. Dollar a more attractive investment while weakening foreign demand for dollar-denominated gold.

While initially surging against the US Dollar on Monday the Australian Dollar quickly fell back as markets shifted from concerns over North Korea towards the upcoming rate decision from the Federal Reserve, with some analysts branding it the bank's "biggest meeting of the year".

Wall Street's fear gauge-the CBOE Volatility Index or the VIX-fell 2.6 percent to 10.17 on Friday.

- Crude oil futures were higher with West Texas Intermediate crude oil for delivery in October up 0.8% at $50.31 and Brent crude for delivery in November up 0.5% at $55.88.

A higher target rate, meanwhile, would push the Fed further from the zero percent lower bound it has been trying to escape after a decade nurturing the US economy into a post-crisis recovery.

Related news:

Hot News

isis-killer-beheading-video-story-top Leaked Document Details Plans for Protected Status of National Monuments
Sep 21, 2017 - 00:13
Changes could be coming to Nevada's Gold Butte National Monument, according to a leaked memo published by the Washington Post . Zinke also noted that the 1937 O&C Act requires those lands to be set aside for permanent forest production.

isis-killer-beheading-video-story-top Highlights: Suu Kyi addresses nation on Rohingya crisis
Sep 20, 2017 - 00:35
On Aug. 25, a Rohingya militant group staged a series of attacks against police outposts in Rakhine state. She said, "Government has been making every effort to restore peace and stability and to bring harmony".

isis-killer-beheading-video-story-top Georgia Tech student made freaky 911 call before being fatally shot
Sep 20, 2017 - 00:33
Beck was sworn in with the university's police department in May 2016, two months after starting the school's police academy. But Chris Stewart, a lawyer for the family, said Schultz was carrying a small utility tool and the blade wasn't out.

isis-killer-beheading-video-story-top ICR Guides Bob Evans in Big Breakfast Deal
Sep 20, 2017 - 00:29
Point72 Asset Management, L.p. added to its position by buying 335,000 shares an increase of 1,308.6% in the quarter. The firm had revenue of $109.30 million for the quarter, compared to analysts' expectations of $102.29 million.

isis-killer-beheading-video-story-top Blac Chyna and Rob Kardashian finally settle custody battle
Sep 19, 2017 - 00:41
A report from TMZ claimed that the former couple had settled the custody war and it was Rob who paid a heavy price for it. According to her legal team, the most recent custody agreement "does not resolve all disputes between Chyna and Rob ".

isis-killer-beheading-video-story-top Democrats to study every option to halt Obamacare repeal bill
Sep 19, 2017 - 00:36
The budget reconciliation tool Republicans are using to prevent a filibuster from Democrats expires at the end of the month. It replaces all of these provisions with a block grant that is smaller than the total amount of the money it takes away.

isis-killer-beheading-video-story-top CAFOD partners rush aid to Rohingya refugees in Bangladesh
Sep 18, 2017 - 00:19
A total of 8,500 temporary toilets will be built and 14 "makeshift warehouses" will be set up near the shelters. Food, clean water and sanitation, and medical and health services are urgently needed.

isis-killer-beheading-video-story-top USA options on North Korea 'effective and overwhelming'
Sep 17, 2017 - 00:31
McMaster says North Korea is on track to having a nuclear weapon that could threaten its neighbors and the United States. Haley noted that the US and the U.N. have saddled the hermit nation with crippling sanctions.

isis-killer-beheading-video-story-top Mauricio Pochettino has revealed what his favourite Harry Kane goal is
Sep 17, 2017 - 00:29
Tottenham should have had a penalty late on in the second half, when Aurier was tripped by Jordan Ayew . "I think if you went around the group it would surprise you how many of our players have been there".

isis-killer-beheading-video-story-top Fire at Kuala Lumpur's Islamic school kills 25 students and teachers
Sep 16, 2017 - 00:40
Another fire department official, Soiman Jahid, said firefighters heard shouts for help when they arrived at the school . When met by theSun , a relative said the remains of a 14-year-old student had been identified by his mother.

isis-killer-beheading-video-story-top Odell Beckham Jr. goes through team drills with Giants
Sep 15, 2017 - 00:17
Two of those losses came at Arrowhead Stadium, which will be the site of Sunday's game against Philadelphia. Getting a healthy Beckham back would certainly help.

isis-killer-beheading-video-story-top The Cleveland Browns Have Released Former Pro Bowl Cornerback Joe Haden
Sep 15, 2017 - 00:14
Myles Garett could have a major impact in the pass rush, and Jabril Peppers is an impact player on defense and in the return game. Garrett sustained a lateral sprain to his left foot during minicamp while pressuring former Browns quarterback Brock Osweiler.

isis-killer-beheading-video-story-top Bullet Train Project in India: 10 things you should know
Sep 14, 2017 - 00:47
A powerful symbol of Japanese industrial prowess and engineering might, the Shinkansen is renowned for its excellent performance. It had taken up a feasibility study for the New Delhi-Chennai corridor but no headway has been made in this regard so far.

isis-killer-beheading-video-story-top LA officially awarded 2028 Olympic Games
Sep 14, 2017 - 00:46
IOC President Thomas Bach , the driving force behind the double award, described the candidacies as a “golden opportunity”. The last American city to bid for the Summer Games was Chicago, losing the 2016 Olympic vote to Rio de Janeiro.

isis-killer-beheading-video-story-top 'Kohli better than Smith in limited overs'
Sep 14, 2017 - 00:45
After making the final of the Champions Trophy, they recorded series wins in the West Indies and Sri Lanka . Kohli had once said that Chahal doesn't fear bowling during any stage of an innings.