The Canadian dollar climbed from the lowest point in a week against its U.S. peer as the Federal Reserve concludes a two-day meeting that may signal when the central bank will slow stimulus. The currency extended the advance after Canadian wholesale sales rose for a fourth month in April, the longest streak of gains in… Read more »
In Europe, G8 leaders agreed to new tax evasion and avoidance measures at a summit in Northern Ireland. The proposals call for countries to change laws to stop companies shifting profits across borders and pay less tax. In Cyprus, President Nicos Anastasiades has asked its euro zone leaders for a complete revamp of its 10… Read more »
The dollar rose for a third day versus the yen amid speculation Federal Reserve Chairman Ben S. Bernanke will today provide more information about when U.S. policy makers will start to reduce bond purchases. The Australian dollar dropped for a fourth day as traders sold higher-yielding currencies before the Federal Open Market Committee concludes its… Read more »
Asian stocks rallied, pushing the benchmark equity index to a two-week high, as the yen drove declines among regional currencies on prospects the Federal Reserve will signal the fate of U.S. monetary stimulus today. The MSCI Asia Pacific Index of equities in the region climbed 0.8 percent by 9:51 a.m. in Tokyo, poised for the… Read more »
Trade Balance: Tuesday, 23:50 GMT. Japan’s trade balance continues to improve, but the country has not rung up a trade surplus in over two years. The May reading produce a smaller deficit of JPY 0.76 trillion, but this was above the estimate of a JPY 0.63 trillion deficit. The markets are expecting the deficit to… Read more »
The yen weakened for a second day against the dollar before the Federal Reserve starts a two-day meeting today that may provide more information about when the central bank will start to reduce bond purchases. Japan’s currency declined versus all except one of its 16 major counterparts after the central bank estimated the current-account balance… Read more »
The Australian dollar extended this quarter’s biggest decline among major counterparts after the Reserve Bank indicated the currency may weaken further. The Aussie slid against most of its 16 major peers after the minutes from this month’s central bank meeting showed policy makers see room to ease borrowing costs further. Australia’s currency fell for a third… Read more »
The U.S. dollar hovered above a two-month low against the yen on Tuesday but uncertainty ahead of the outcome of the U.S. Federal Reserve meeting is likely to cap further gains. The dollar fetched 94.61 yen in early Asian trade, little changed from late U.S. levels after positing its first gains in five sessions on… Read more »
The yen extended losses against the dollar and the euro while the benchmark Asian stock gauge fluctuated as the Federal Reserve meeting starting today spurs investors to assess prospects for reductions in U.S. economic stimulus. The yen weakened a second day versus the dollar after surging the most since 2009 last week, while the Malaysian… Read more »
UK inflation data: Tuesday, 8:30 GMT. Consumer price inflation dropped sharply in April to 2.4% from 2.8% in March, hitting its lowest level since September last year. The steepest fall occurred in petrol. The overall CPI yearly rate is below the Bank of England’s forecast in its May Inflation Report and may prompt monetary easing… Read more »
