The U.S. dollar moved down against its major counterparts in the New York session on Wednesday, as ADP private sector employment increased less than expected in February and Federal Reserve Chair Jerome Powell reiterated the possibility of rate cuts this year. In his testimony before the House Financial Services Committee, Powell said that it would...
Economic activity in the U.S. has increased only slightly since early January, according to the Federal Reserve\'s Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts. The Beige Book, released Wednesday afternoon, said eight districts reported slight to modest growth in activity, three others reported no change...
Despite paring some early gains, the Canadian market ended modestly higher on Wednesday with materials and consumer discretionary stocks posting notable gains. Several stocks from communications, consumer staples and utilities sectors also moved higher. Healthcare stocks were weak. The market reacted positively to the Bank of Canada\'s monetary policy announcement, and the Federal Reserve Chair...
The U.S. dollar drifted lower against its major rivals on on Wednesday, weighed down by data showing a smaller than expected addition in private sector employment, and amid rising prospects of interest-rate cuts this year. Federal Reserve Chair told the House Financial Services Committee today that it would be appropriate to begin lowering interest rates...
China will on Thursday release February figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity. Imports are expected to rise 2.0 percent on year after adding 0.2 percent in January. Exports are called higher by an annual 2.5 percent, up from 2.3 percent in the previous month. The trade...
UK Chancellor Jeremy Hunt is set to deliver his spring budget in the parliament on Wednesday. Hunt is expected to offer pre-election giveaways but the limited headroom reduced the scope for major tax cuts. The announcement is due at 7.30 AM ET. Foreign trade and construction Purchasing Managers\' survey results from Germany are other major...
European stocks are seen opening flat to slightly higher on Wednesday ahead of a busy day on the economic calendar. Fed Chair Jerome Powell\'s congressional testimony is likely to be in the spotlight today, along with reports on U.S. private sector employment, job openings and the Fed\'s Beige Book. Powell is due to testify before...
The Australian dollar strengthened against other major currencies in the Asian session on Wednesday. The Australian dollar rose to 2-day highs of 1.6650 against the euro, 0.8856 against the Canadian dollar and 1.0701 against the NZ dollar, from yesterday\'s closing quotes of 1.6687, 0.8837 and 1.0680, respectively. Against the U.S. dollar, the aussie edged up...
The New Zealand dollar strengthened against most major currencies in the Asian session on Wednesday. The NZ dollar rose to 0.6099 against the U.S. dollar and 91.40 against the yen, from an early 3-week low of 0.6069 and a 6-day low of 91.04 against the yen, respectively. Against the euro, the kiwi edged up to...
The Japanese yen strengthened against other major currencies in the European session on Wednesday. The yen rose to a 5-day high of 162.21 against the euro and a 2-day high of 189.86 against the pound, from early lows of 162.89 and 190.63, respectively. Against the U.S. dollar and the Swiss franc, the yen advanced to...