Aust dollar hits three-month high

The Australian dollar is refusing to roll over, soaring to a three-month high on the back of disappointing US economic figures. At 7.00am (AEDT) on Friday, the local unit was trading at US73.56c, up from US73.17c on Thursday. The Aussie surged to US73.72c overnight, supported by a weaker greenback across the board. US factory orders and durable goods disappointed, ANZ senior manager FX Sam Tuck said. And, despite an improvement...

Oil Ends Near 8-Week High After Drop in U.S. Crude Production

Oil ended near the highest closing level in eight weeks in New York as a jump in U.S. crude inventories was countered by a decline in the nation’s oil production. Futures were little changed. Output fell for a sixth week to 9.08 million barrels a day, the lowest level since November 2014, according to the Energy Information Administration. Crude inventories rose, keeping supplies at the highest in more than eight decades. OPEC members...

Hong Kong benchmark index pulls back from 7-week highs on profit-taking (Review)

investors took profit from a rebound that had been fuelled by strength in global and mainland markets. The Hang Seng index fell 0.3 percent, to 19,941.76, but the China Enterprises Index gained 0.2 percent, to 8,390.79 points. Most sectors fell, but energy and resource shares, which had led the recent bounce, remained firm. Source : Reuter...

U.S. Stocks Rise to Build on 8-Week High Before Payrolls Report

U.S. stocks rose, led by gains in energy shares to extend a three-week rally before Friday’s payrolls report that may provide a clearer picture on the strength of the economy and path for interest rates. Energy producers in the Standard & Poor’s 500 Index erased 2016 declines as a rally in the group helped equities shake off earlier weakness for a second day. Banks also gained momentum in the afternoon, rising for the fifth time...

U.S. Stocks Slip From Eight-Week High Amid Data Before Payrolls

U.S. stocks slipped, with a three-week equity rally leveling off amid mixed data before Friday’s payrolls report that may provide a clearer picture on the strength of the economy and path for interest rates. Investors were showing tempered enthusiasm for shares that have paced the recent rebound, with banks little changed while consumer and technology shares declined. Health-care and tech were the biggest drags as Johnson &...