Could Trump's response to Charlottesville sink his economic agenda?

"The dollar could face further selling if US shares go into a deeper correction" following their overnight plunge, an official at a foreign exchange brokerage house said. The currency's weakest level of the session was C$1.2691, while it touched its strongest since August 4 at C$1.2575.

U.S stocks sold off on Thursday, with the S&P 500 hitting its lowest level in a month, as escalating worries about the Trump administration's ability to push through its agenda rattled investors. The yen was the major mover among developed world currencies.

"The stock market has a great tendency to look at geopolitical or political events, have a small pullback and then just shrug its shoulders", said Burns McKinney, chief investment officer in the Dallas office of Allianz Global Investors. Reports in early this morning of terror attacks in Barcelona are likely to impact sentiment on local markets, with futures dropping in the wake of the news.

The dollar posted its third session of losses against the yen, falling 0.25 percent to 109.31 yen and shrinking this week's gains to 0.3 percent.

The Dow Jones Industrial Average traded down 2 points at 21,749, but had been down by as much as 110 points, while the S&P 500 index gained 4 points, or 0.2%, at 2,434, with a almost 1% rise in the energy sector and a 0.4% climb in the technology shares keeping afloat the broad-market gauge.

Investors were rattled over rumours regarding Economic Adviser Gary Cohn's future

The S&P 500 was barely higher Friday afternoon as investors assessed the latest White House shakeup, while shares of sporting goods retailers and Deere weighed on the market following disappointing results.

In the latest shakeup, the White House said Trump on Friday fired chief strategist Steve Bannon, known as an economic nationalist and an advocate of "America First" policies. It is on track for a 2.15 percent decline for the week.

Benchmark zinc, which set a new decade high of $3,147 a tonne on Thursday, closed lower but was up 1.05 percent at $3,094.50 on Friday. Islamic State has claimed responsibility (http://www.marketwatch.com/story/islamic-state-takes-credit-for-deadly-barcelona-attack-on-pedestrians-2017-08-17) for the terror attack.

Oil prices traded sharply higher on Friday, rising to $48.25 a barrel.

Spot gold touched its highest since November 9 at $1,300.80 per ounce, and was up 0.03 percent at $1,287.95 an ounce by 3:20 p.m. EDT (1920 GMT).U.S. gold futures for December delivery settled at $1,291.60.




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