So we had hawkish speech by Yellen last night, 18-30% chance of rates to rise by Sept and 50-60% chance of rates to rise by Dec?
Seems like a coin-flip chance of any increase at all this year?
-"Clearly, market participants are seeing this as a non-event," said Chuck Self, CIO at iSectors. "There was nothing new that came out of that speech."
-"Yellen has all the flexibility to be dovish in September if she wants."
-"Yellen continues to worry about low business investment and declining productivity."
-"Investors also digested the second read on second-quarter U.S. GDP, which showed growth of 1.1
percent, down from the initial read of 1.2 percent."
-"Gold futures for December delivery rose $13.20 to $1,337.80 per ounce."
POG in US spiked to $1340 initially during the speech and now at $1320, in AUD POG $1747...
Looks like US continue to kick the can down the road, whilst a rate hike is inevitable at some stage, even Dec at 50-60% chance could be unlikely...
See how the jobs reports are this week i guess....
https://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0ahUKEwjinJC3iuDOAhVEI5QKHePDAGcQqQIIHzAA&url=http://www.cnbc.com/2016/08/25/gold-steady-as-dollar-dips-ahead-of-yellen-speech.html&usg=AFQjCNGftD2SwUbn-ezpwzK0NZ7i4m7waw&sig2=hVTptGyB8B6Yh6-0_ofgCA
https://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0ahUKEwiFmYbXieDOAhULk5QKHXibDH4QFgggMAA&url=http://www.marketslant.com/articles/why-gold-bulls-should-want-rate-hike&usg=AFQjCNEQ9lvcUrWuu2Sl8iSgLo-RE5DAcg&sig2=_ad6kFMJOmrJXu0f68NRcA