Market News

Investors’ expectations are high and great that the U.S. Federal Reserve will later today announce a modest reduction to their quantitative easing program and as a result the U.S. Dollar Index once again remained within striking distance of the recently struck 4-week low.

The U.S. Dollar remained close to Tuesday’s 4-week trough now that expectations that the Fed would tighten monetary policy at a faster click have been dashed with the withdrawal from contention of Lawrence Summers.

The U.S. Dollar Index slipped to a 4-week trough during the Monday trading session in Asia on speculation that the current ultra loose monetary policy of the U.S. Federal Reserve Bank is likely to endure given that the new front runner to replace Ben Bernanke is the dovish Janet Yellen.

The U.S. Dollar edged higher during the Friday trading session in Asia but is still poised to post a weekly loss on rising doubts of any significant scaling back of the Federal Reserve’s stimulus program.

The U.S. Dollar Index held close to a 2-week trough during the Asian trading session with recent gains being chipped away on growing speculation that the Federal Reserve Bank won’t make any significant changes to its quantitative easing policy.

In the biggest shake-up of the Dow Jones industrial average in nearly a decade, Goldman Sachs, Visa and Nike will be joining the prestigious 30-stock index.

The safe haven Japanese Yen touched a 7-week trough versus the U.S. Dollar and held close to multi-year lows versus both the Pound Sterling and the Euro following news that the United States is no longer considering military action in Syria.

Australian business confidence surged in August as firms hoped a Federal election would put an end to political uncertainty, though Tuesday's survey showed actual conditions were weak with a worrying downturn in employment.

China's annual consumer inflation rate rose 2.6 percent in August, official data showed on Monday, in line with market expectations and with little change from the previous month's 2.7 percent rise.

Last week, the U.S economy issued the “U.S Energy Information Agency Report” for the oil stocks, which showed a deficit in the stock by around 1.8 million barrel

The Federal Bank issued the “Beige Book” report yesterday, which had information about the U.S economy performance during the last period, where the report suggested that the economic activities continued its modest improvement in most of the US counties, just like what the Federal Bank have confirmed repeatedly and on various occasions.

Asian stocks snapped a four-day winning streak on Wednesday and safe assets like gold consolidated overnight gains after President Barack Obama clinched the backing of two key figures in Congress in his drive for limited U.S. strikes on Syria.

Asian stock markets advanced across the board Tuesday after the likelihood of an imminent, U.S.-led attack against Syria faded and manufacturing rebounded in China.

Asian shares rose for a third straight day on Monday climbing to a two-week high as copper gained and the Australian dollar strengthened on news that Chinese manufacturing expanded in August at its fastest pace in more than a year.

In an effort to curb imports and take some heat off the plunging currency, India is considering a radical plan to direct commercial banks to buy gold from ordinary citizens and divert it to precious metal refiners.