Markets advance as US-China trade talks end

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A pedestrian holding an umbrella walks past an electronic board showing the graphs of the recent fluctuations of Japan's Nikkei average outside a brokerage in Tokyo, Japan, January 18, 2016.

The small-cap Russell 2000 index also advanced 0.5 percent to reach a new closing high.

Futures indicated Wall Street was set to open higher.

Against a basket of six major currencies, the dollar stood at 95.516, down 0.3 per cent on the day.

Fed Chair Jerome Powell's speech at the Jackson Hole Economic Policy Symposium provided no support for the US Dollar as he noted that the gradual pace of rate hikes remains appropriate, leaving market pricing unchanged for the timeline of when the Fed will move next.

The US dollar decreased to 0.9828 Swiss franc from 0.9862 Swiss franc, and it fell to 1.3028 Canadian dollars from 1.3093 Canadian dollars.

Another of Trump's former advisers has pleaded guilty to breaking campaign finance laws, bank fraud and tax evasion. For example, u* (pronounced "u star") is the natural rate of unemployment, r* ("r star") is the neutral real rate of interest, and Π* ("pi star") is the inflation objective.

Powell did not mention Trump in a speech at a central bankers conference in Jackson Hole, Wyo. Powell is due to speak at 1400 GMT.

The Fed is very confident in the US economy and Powell indicated there is no intention of slowing down the Fed's rate hikes, said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina.

However, the Kansas City Fed's annual conference is among the central bank's higher-profile annual events, drawing worldwide media attention and an audience including representatives of other nations' central banks.

The euro rose 0.76 percent to $1.1625 and the Japanese yen strengthened 0.12 percent versus the greenback at 111.19 per dollar.

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At the moment, the pair is gaining 0.42% at 1.1588 facing the next hurdle at 1.1623 (high Aug.22) seconded by 1.1629 (high Aug.8) and finally 1.1745 (high Jul.31).

The Australian dollar pared losses and stocks inched up after the governing Liberal Party elected a new business-friendly prime minister, ending a period of political uncertainty.

Economists have been puzzled by the lack of corresponding wage and price growth to the tight labor market.

All three major U.S. indices pushed higher, with the S&P 500 notching its first closing record since January and the Nasdaq jumping 0.9 percent to 7,945.98, smashing past a record set last month.

Earlier in Asia, stocks fell after U.S. It was still up about 0.85 percent on the week.

Onshore Chinese yuan slipped 0.2 percent to 6.8916 per dollar, its weakest in a week.

The S&P 500 .SPX shed 0.17 percent overnight to pull back slightly from a record high scaled midweek, with industrial shares sagging after the United States and China imposed a fresh round of trade tariffs on each other.

For the week, the S&P gained 0.87 percent, the Dow added 0.47 percent and the Nasdaq jumped 1.66 percent.

Germany's 10-year yield was little changed at 0.34 percent.

Powell also made no mention in his speech of what many economists see as the most serious threat to the economy: The trade war that Trump has launched with America's main trading partners - a conflict that risks depressing USA and global economic growth the longer it goes on and that directly targets Canada.

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