The dollar is gaining ground against all of its major competitors on Wednesday. The U.S. currency has been rising against the Japanese Yen and the pound sterling for the majority of the session and reversed early losses against the Euro after Fed Chairman Ben Bernanke began his testimony before the Joint...
Existing home sales in the U.S. saw a modest increase in the month of April, according to a report released by the National Association of Realtors on Wednesday. NAR said existing home sales climbed 0.6 percent to a seasonally adjusted annual rate of 4.97 million in April from an upwardly revised 4.94 million in March.
Federal Reserve Chairman Ben Bernanke on Wednesday downplayed speculation that the central bank is planning to taper its $85 billion monthly bond buying program.
The economic recovery remains too fragile to proceed without extraordinary support from the Fed in light of fiscal restraint and headwinds...
Bank of England Chief Mervyn King maintained his call for more stimulus for the fourth month and was defeated again by a majority of six members as in previous months who cited faster-than-expected growth and pipeline impact from previous stimulus. At his penultimate meeting, King along with Paul Fisher and David Miles sought an increase in quantitative easing by GBP 25 billion.
The minutes of the latest monetary policy meeting of the Bank of England and public finances and retail sales from the U.K. are due on Wednesday.
The Bank of Japan on Wednesday decided to keep its ultra-loose monetary policy unchanged, as expected, suggesting that the bank is moving cautiously amid concerns over the recent turmoil in the bond market. The policy board said the bank will conduct money market operations so that the monetary base will increase at an annual pace of about JPY 60-70 trillion.
The Japanese yen trimmed early losses against other major currencies on Wednesday after the Bank of Japan decided to keep its monetary easing program in tact, as it seeks to attain a 2 percent inflation goal in two years.
Reaffirming its latest easing measures, the central bank's Policy Board said...
Confidence among Australian consumers declined sharply in May to its lowest level since August 2012, driven largely by negative responses to the Federal Budget, a survey by Westpac and Melbourne Institute showed Wednesday. The index of consumer sentiment fell 7 percent in May to 97.6 from 104.9 in April. This is the lowest reading since August 2012.
Japan posted a merchandise trade deficit of 879.936 billion yen in April, the Ministry of Finance said on Wednesday - slipping into the red for the ninth consecutive month.
The headline figure missed forecasts for a shortfall of 620.6 billion yen following the downwardly revised deficit of 364.0 billion...
The dollar was up against all of its major competitors in early trade Tuesday, but has recently reversed direction and is now down against the Euro on the day. St. Louis Federal Reserve Bank President James Bullard stated today, during a speech to an economic conference in Frankfurt, that the Federal...
U.K. consumer price inflation slowed more-than-expected to a seven-month low in April on falling petrol and air fares, official data revealed Tuesday. The slowdown provides relief for consumers as it raises purchasing power, while it gives more scope for the central bank to ease monetary policy.
Producer and consumer prices from the U.K. are due on Tuesday, headlining a light day for the European economic news.
Members of the Reserve Bank of Australia's monetary policy board decided that it was appropriate to trim the nation's benchmark interest rate in order to spur economic growth, minutes from the RBA's May 8 meeting revealed on Tuesday. Economic growth is expected to come in slightly below trend, the RBA said, strengthening the case for a rate cut.
The dollar is currently losing ground against all of its major competitors Monday. However, the largest move to the downside was against the Japanese Yen. Japanese Economic Minister Akira Amari reportedly stated Sunday that the correction of the yen is "largely completed."
The Japanese government...
Thailand lowered its full-year growth outlook after weaker domestic demand and exports weighed on economic activity in the first three months of the year. Gross domestic product expanded 5.3 percent year-on-year in the first quarter of 2013 compared to an upwardly revised 19.1 percent growth in the fourth quarter of 2012, the National Economic and Social Development Board (NESDB) said Monday.