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Materials Down as Traders Recalibrate Inflation, Rate Bets -- Materials Roundup

08/17/2022 | 04:45pm EDT

Producers of metals and other raw materials fell as investors recalibrated bets on the likelihood of inflation and interest rates peaking in the short term.

The minutes from the Federal Reserve's latest meeting indicated the central bank was still in inflation-fighting mode, even as some officials acknowledged that the Fed would have to slow rate increases at some stage.

Gold futures fell to a two-week low, incurring their third straight decline, as the dollar hovered near multiyear highs against rivals.

The U.S. Agency for International Development is spending more than $68 million to purchase and ship Ukrainian grain in the largest such export deal since Russia's invasion.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

08-17-22 1644ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -1.58% 0.64087 Delayed Quote.-10.29%
BRITISH POUND / US DOLLAR (GBP/USD) -1.91% 1.11383 Delayed Quote.-15.37%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -1.01% 0.72784 Delayed Quote.-6.41%
EURO / US DOLLAR (EUR/USD) -1.12% 0.97997 Delayed Quote.-12.82%
GOLD -0.37% 1711.63 Delayed Quote.-5.68%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.52% 0.012186 Delayed Quote.-8.58%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -2.15% 0.56523 Delayed Quote.-16.09%
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