Aust dollar trades above US77c

The Australian dollar has popped above US77c as a dovish posture from the US central bank continues to rattle the greenback. At 7am (AEDT) on Thursday, the local unit was trading at US76.69c, up from US76.42c on Wednesday. The Aussie rose to US77.10c overnight as the greenback extended losses in the aftermath of US Federal Reserve chair Janet Yellen’s Wednesday address. Dr Yellen flagged heightened concerns of a global economic slowdown,...

Oil ends 5-session losing streak by a hair

Oil futures barely managed to put an end to a five session losing streak on Wednesday, as traders weighed support from a fall in weekly U.S. crude production against pressure from a rise in stockpiles. Crude supplies marked a seventh weekly climb, but the increase came in below some market expectations. West Texas Intermediate crude for May delivery CLK6, +0.05%  tacked on 4 cents, or 0.1%, to settle at $38.32 a barrel on...

Hong Kong Shares End Near 3-Month High on Global Rally (review)

Hong Kong stocks jumped more than 2 percent on Wednesday to a nearly three-month high, as the U.S. Federal Reserve's dovish remarks triggered the market's best performance in nearly a month.The Hang Seng index rose 2.2 percent, to 20,803.39, while the China Enterprises Index gained 2.9 percent, to 8,979.41 points.Markets scaled back expectations for how fast and far U.S. interest rates might rise this year, after Fed Chair Janet Yellen emphasised...

U.S. Stocks Add to Rally Sparked by Dovish Message From Yellen

U.S. stocks rose, extending to the highest levels this year, as central bankers continued to spur optimism amid assurances that they will act to stave off a global downturn. The Standard & Poor’s 500 Index climbed for a third day after yesterday posting the strongest increase in two weeks as Federal Reserve Chair Janet Yellen signaled officials will be cautious in raising rates due to heightened economic risks overseas. The dollar...

Wall Street gains powered by Yellen, oil one-two punch

U.S. stocks were poised for a third session of gains on Wednesday as dovish comments from Federal Reserve Chairwoman Janet Yellen, on top of stronger oil, lifted the main indexes. Speaking at the Economic Club of New York, Yellen stressed a need for a cautious stance on interest-rate increases. The remarks follow a shift in the Fed’s outlook since late last year, as the central bank cut its forecast of rate hikes to two from...