Breaking News

Dollar plumbs nine-day low, Asian shares rise after Yellen

News Date: 30/3/2016 02:27:26
 
Dollar fell on Wednesday, adding to its massive losses yesterday after Federal Reserve Chair Janet Yellen said the bank would proceed "cautiously" on tightening monetary policy and raising interest rates due to the global risks still besieging the American economy, all but ending any expectations of a hike next month.

The dollar index, which measures the U.S. currency's performance against a basket of major currencies, fell 0.14% to a nine-day trough at 95.03, after registering its biggest daily loss in two weeks yesterday, as traders unwound their buy positions rapidly and bears jumped to sell the greenback. The yen rose 0.30% against its American rival today to 112.38.

Asian shares gained ground as well, cheered by Fed's dovish tone, with China's Shanghai index surging nearly two percentage points, while Australian shares advanced 0.20%. Japan's Nikkei was a lone loser however, hurt by the yen's strength, which lessens the competitiveness of Japanese exports abroad; the index was last down 1.31%.

Wall Street cheered Yellen's speech as well, with NASDAQ leading the winners with a 1.67% gain, or 79 points to 4,846. Both S&P 500 and Dow Jones rose to 2016-highs, with the first adding 17 points, or 0.88% to end at 2,055, and the second advancing 97 points, or 0.57% to close at 17,633.

Investors wait for a basket of U.S. data later today, with crude inventories expected to rise yet again, by 3.1 million barrels last week, adding to the previous week's massive 9.4M addition, which would be quite negative for oil prices.

A survey tracking private sector employment is forecast to show an addition of 195 thousand jobs in March, compared to February's 214K rise, which would still be positive for the world's largest economy.

Latest news

Futures contracts for gold declined with European trading after it was high in the Asian session : with the beginning of today’s hours, futures contracts rose by 0.66%, to be traded at a price
09-2020 21 09:52:41

Gold futures rose for December delivery according to the Asian session on Friday. As it increased by 0.47%, to be traded at the price of 1959.00 dollars per ounce, and it was previously traded at a
09-2020 18 06:02:31

Oil prices rose this morning, due to the halt in oil and gas production due to a hurricane in the United States of America, as the price of crude oil increased by approximately 1.5%, reaching 41.13 d
09-2020 16 06:30:20

We open the trading week with a rise in gold prices today, after it witnessed a decline in the last days of last week, as it is a safe haven for investors, especially when crises that negatively affe
09-2020 14 06:22:57

Gold prices experienced a remarkable decline at the beginning of the week after it concluded its Asian trading at a high, affected by the great rush of investors, if this morning the gold futures con
08-2020 31 08:11:31

More News

Logs

Advertisements