Pound v US dollar: GBP fails to gain against USD as UK inflation rises

Express.co.uk2 hours ago

Yellen notably claimed that recent hurricanes in the US might not have a long-term impact, adding that growth in US wages had been particularly supportive.

Pound-to-Dollar Rate Predicted to Extend Short-Term Advance, but an Heavy Data …Pound Sterling Live

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Pound v US dollar: GBP fails to gain against USD as UK inflation rises

Express.co.uk1 hour ago

Yellen notably claimed that recent hurricanes in the US might not have a long-term impact, adding that growth in US wages had been particularly supportive.

Pound-to-Dollar Rate Predicted to Extend Short-Term Advance, but an Heavy Data …Pound Sterling Live
Daily Market Forecast, October 17, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY …FX Empire

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By John Lee.

Iraq is reportedly considering using security forces to prevent Kurdistan from blocking oil output from Kirkuk.

A spokesman for the North Oil Company (NOC) told Reuters that Kurdish officials indicated that they would shut down production at the Kirkuk oilfield, ostensibly for security reasons, but as a means of putting pressure on Baghdad.

Kirkuk produces around 200,000 barrels per day, out of total Kurdish production of over 600,000 bpd.

More from Reuters here.

(Source: Reuters)

Federal forces in control of large areas of Kirkuk city; further Kurdish withdrawals in Nineveh/Diyala

Over the course of October 16, Iraqi federal forces advanced into many parts of Kirkuk city and adjacent military and energy facilities. The Counter-Terrorism Service (CTS), supported by the Iraqi Army and Federal Police took control of the K1 military base, the governor’s palace, the Kirkuk Provincial Council headquarters, the North Oil Company and North Gas Company headquarters, the Kirkuk Regional Air Base, and key areas of Kirkuk city and road junctions.

While Popular Mobilization Units (PMU) took part in operations in rural areas, they were not deployed into the Kirkuk city area.  Local Kurdish forces aligned with the Patriotic Union of Kurdistan (PUK) offered minimal resistance as federal forces moved into the area, many media reports have focused on an agreement in place between the PUK leadership and Baghdad for an orderly transfer of the facilities listed.

As a result, Baghdad is now in control of the portions of PUK-controlled Kirkuk that it held prior to the 2014 military collapse.   Government forces were also reported to have moved into the oil fields of Dibis district that have been held by forces loyal to the Kurdistan Democratic Party (KDP) since 2014. These fields produce 275,000 barrels of oil per day, or nearly half the 620,000-barrel output of the Kurdistan Regional Government (KRG).

Some media reports claimed that thousands of Kurdish civilians have fled Kirkuk city and its surrounding area.  Other reports claimed that crowds of ethnic Turkmen who opposed Kurdish control of the city celebrated on the streets of Kirkuk.  The US has not opposed Baghdad’s return to Kirkuk in part because the move was framed in terms of restoring the status quo before the Islamic State (IS) crisis.  This theme has been echoed by the majority of the international community.

Separate unconfirmed reporting has indicated that Sinjar, 100km west of Mosul in Nineveh province, is now under the control of ISF/PMU forces following the withdrawal of Peshmerga forces from the town. Reporting on October 16 had indicated a build-up of government forces to the south and east of Sinjar.

Reporting last night indicated that talks were underway for a peaceful handover. Yazidi elements of the region’s majority Shia PMU forces had apparently stated their unwillingness to confront Peshmerga owing to the close ties between the groups.  Reports from Diyala province have also claimed that Kurdish forces have withdrawn from positions in the Mandali district northeast of Baquba as Iraqi federal forces entered Khanaqin district to the south of Mandali.

(Source: GardaWorld)

Coalition military officials are monitoring military movements near Kirkuk, Iraq, following reports of an incident, Pentagon Director of Press Operations Army Col. Rob Manning told reporters today.

“The coalition is monitoring movements of military vehicles and personnel in the vicinity of Kirkuk, he said. “These movements of military vehicles so far have been coordinated movements, not attacks.”

Coalition forces and advisers are not supporting the activities of Iraqi government or Kurdistan Regional Government forces near Kirkuk, Manning said. “We are aware of reports of a limited exchange of fire during the predawn hours [today], and we believe this to have been an isolated incident,” he said of media reports of fighting between Iraqi and Kurdish fighters.

“We have not seen levels of violence suggested in some media reports,” he said, adding that the coalition strongly urges all sides to avoid additional escalatory actions, opposes violence from any party, and urges against destabilizing actions that distract from the fight against ISIS and undermine Iraq’s stability.

Support for Unified Iraq

The United States continues to support a unified Iraq, Manning said.

“Despite the Kurdistan Regional Government’s unfortunate decision to pursue a unilateral referendum, dialogue remains the best option to diffuse ongoing tensions and long-standing issues,” he noted.

The Defense Department remains focused on the fight against ISIS, a terrorist organization that threatens the states in the region and the international community, Manning said.

“We call on all actions in the region to focus on this common threat, and avoid stoking tensions among the Iraqi people. We remain focused on destroying ISIS,” he said.

(Source: US Dept of Defense)

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Sunday, conducting ten strikes consisting of 11 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday.

Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports.

Strikes in Syria

In Syria, coalition military forces conducted two strikes consisting of two engagements against ISIS targets:

  • Near Ash Shadaddi, a strike engaged an ISIS tactical unit and destroyed a fighting position.
  • Near Dayr Az Zawr, a strike engaged an ISIS tactical unit and destroyed a tactical vehicle.

Strikes in Iraq

In Iraq, coalition military forces conducted eight strikes consisting of nine engagements against ISIS targets:

  • Near Qaim, four strikes engaged an ISIS tactical unit and destroyed five supply routes, two vehicle-bomb factories and an ISIS-held building.
  • Near Rutba, two strikes engaged two ISIS tactical units and destroyed three vehicles.
  • Near Rawa, a strike destroyed two command-and-control nodes and an anti-air artillery system.
  • Near Tuz, a strike engaged an ISIS tactical unit and destroyed a tunnel.

Additionally, officials announced details today of an Oct. 14 strike near Qaim for which the information was not previously available. The strike destroyed five ISIS supply routes and a tunnel entrance.

Part of Operation Inherent Resolve

These strikes are conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said.

The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted.

Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect.

For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said.

The task force does not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target.

(Source: US Dept of Defense)

US dollar up, yield curve flat, on inflation; stocks rise

Reuters13 hours ago

NEW YORK (Reuters) – U.S. stocks rose on Tuesday after company earnings reports were better than expected, with the Dow Jones Industrial Average breaching the 23,000 mark for the first time, while the U.S. Treasury yield curve flattened and the dollar …

US dollar up, yield curve flat, on inflation; stocks mixedTODAYonline

US Dollar Up, Yield Curve Flat, on Inflation; Stocks Pause

New York Times10 hours ago

NEW YORK – U.S. stocks turned mixed on Tuesday, with traders unimpressed by some bank earnings reports, while the U.S. Treasury yield curve flattened and the dollar rose to a one-week high on increased inflation expectations. World stocks' gains …