The Canadian dollar fell as its U.S. peer gained versus most other currencies after Federal Reserve Chairman Ben S. Bernanke said risks to the economy have decreased and policy makers could end bond purchases in the middle of next year. The Canadian currency rose earlier as Bank of Canada Governor Stephen Poloz said in his… Read more »
The U.S. dollar held firm in Asia on Thursday, having posted its best one-day gain in over a month after the Federal Reserve confirmed that it would begin to dial down stimulus this year if the economy continued to recover as it expected. The dollar index, which tracks the greenback’s performance against a basket of… Read more »
Asian stocks slumped the most in a week after Federal Reserve Chairman Ben S. Bernanke said the central bank may reduce bond purchases later this year should the U.S. economy strengthen. Samsung Electronics Co. (005930), the world’s largest smartphone maker, slipped 2.3 percent in Seoul. Inpex Corp., Japan’s No. 1 energy explorer, dropped 2.7 percent… Read more »
US Unemployment Claims: Thursday, 12:30. The most recent weekly report was encouraging: a drop to 334K, back to the lower levels rather than the higher ones. A rise back to 345K is expected now. The markets have become more sensitive to this figure, due to the fact that Fed focuses on jobs. US Existing Home… Read more »
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 »
