Aust dollar soars as greenback slips

Cautious remarks from the US Federal Reserve have helped the Australian dollar break above US76c. At 7am (AEDT) on Wednesday, the local unit was trading at US76.41c, up from US75.41c on Tuesday. The Aussie spiked one US cent overnight after Fed Chair Janet Yellen doubled down on her dovish comments, ANZ senior FX manager Sam Tuck said. Dr Yellen said the US central bank still envisions a gradual pace of interest rate increases in light...

Oil futures log 5th straight drop to settle at a two-week low

Oil futures fell for a fifth straight session on Tuesday to settle at their lowest level in two weeks, as traders braced for industry data that are likely to show another increase in U.S. crude supplies. West Texas intermediate crude for May fell $1.11, or 2.8%, to settle at $38.28 a barrel on the New York Mercantile Exchange. The settlement was the lowest since March 15. May Brent crude on the ICE Futures exchange declined by $1.13,...

Asia Stocks Rise as Yellen Dovish Comments Lift Risk Appetite

Asian stocks advanced after Federal Reserve Chair Janet Yellen signaled the U.S. central bank remains wary of raising interest rates while threats remain to domestic growth from a slowing global economy. The Topix index fell in Tokyo after Yellen’s comments strengthened the yen, souring the outlook for Japanese exporters. The MSCI Asia Pacific Index gained 0.5 percent to 128.34 as of 9:03 a.m. in Tokyo. The measure is on course to post...

Japanese Stocks Fall as Yen Strengthens After Yellen Speech

Japanese stocks fell, paring the Topix index’s first monthly advance since November, as the yen strengthened after Federal Reserve Chair Janet Yellen voiced caution on raising interest rates given the risks to world growth. The Topix declined 0.3 percent to 1,373.16 at 9:01 a.m. in Tokyo, with all but six of the 33 industry groups sinking. The measure is on course for a 5.7 percent gain in March. The Nikkei 225 Stock Average retreated...

Hong Kong Share Indexes Barely Move Ahead of Yellen Speech (review)

Hong Kong stocks drifted aimlessly and closed flat on Tuesday, ahead of a speech by Federal Reserve Chair Janet Yellen, after trading resumed following a four-day Easter weekend.The Hang Seng index edged lower in morning trading but ended the session up 0.1 percent at 20,366.30 points. The Hong Kong China Enterprises Index rose 0.3 percent.Gains in the consumer sector helped offset losses from energy shares, which fell sharply on lower...