Aust dollar firms on US data

The Australian dollar is firmer as disappointing American retail sales figures make traders question the timing of an expected US interest rate rise. At 12.00opm (AEDT) on Friday, the local currency was trading at US76.91c, up from US76.20c on Thursday. The exchange rate rose above US77c during the early hours of Friday morning after official data showed that US retail sales fell 0.6 per cent in February. The result, which went against...

Oil Set for Fourth Weekly Decline as Global Glut Seen Expanding

Oil headed for the longest stretch of weekly declines in almost two months amid signs that a global supply glut will expand. Futures were little changed in New York after falling 2.3 percent on Thursday to a six-week low. Iran is in talks with buyers in Asia to sell more crude if sanctions on the Middle Eastern country are lifted, according to four people with knowledge of the discussions. U.S. drilling executives...

China’s Stock-Index Futures Little Changed After Weekly Advance

China’s stock-index futures were little changed as the Shanghai Composite Index headed for the biggest weekly gain in a month. Futures on the CSI 300 Index expiring in March, the most active contract, fell less than 0.1 percent to 3,614.60 as of 9:18 a.m. local time. SAIC Motor Corp., China’s largest carmaker, may move after the company signed an agreement with Alibaba Group Holding Ltd. to set up a fund to promote the development of...

Asian Stocks Advance as U.S. Retail Sales Ease Rate-Rise Concern

Asian stocks rose, following a rebound in U.S. shares, after an unexpected drop in American retail sales strengthened the case for keeping interest rates lower for longer in the world’s largest economy. The MSCI Asia Pacific Index advanced 0.1 percent to 144 as of 9:01 a.m. in Tokyo, paring this week’s decline to 1 percent. Rate bets were tempered Thursday after retail sales slipped for a third straight month. The Standard & Poor’s...

Japan’s Topix Heads for Best Weekly Winning Streak in Two Years

Japanese stocks rose, with the Topix index heading for its longest weekly winning streak since February 2013, after a drop in U.S. retail sales boosted speculation the Federal Reserve may delay raising interest rates. The Topix added 0.2 percent to 1,550.27 as of 9:01 a.m. in Tokyo, heading for an eight-week gain. The Nikkei 225 Stock Average climbed 0.4 percent to 19,062.23, set to extend a 15-year high. U.S. stocks rebounded from...