The Australian Dollar has opened firmer this morning, trading at USD0.8260 following on from yesterday's lead, as equity markets offshore posted gains. Gains in base metal prices also helped support the AUD, with copper up 1.1%, nickel up 1.5% and aluminium +2.8%.
European leaders are committed to ensuring the survival of the euro and have enough money to meet obligations of heavily indebted member countries, Federal Reserve Chairman Ben Bernanke said on Monday.
Stocks mostly rose in volatile trading on Tuesday, led by materials and financial shares, but investors shied away from big-cap technology shares on concerns about their European exposure.
U.S. retail sales likely notched an eighth straight month of gains in May as consumers took comfort in a gradually improving job market.
A top Federal Reserve official said on Tuesday high unemployment and low inflation justify holding benchmark interest rates ultra-low for quite some time but European debt woes are unlikely to derail the U.S. economic recovery.
The Dow and the S&P 500 rose in choppy trading on Tuesday as higher oil prices lifted energy shares, while the Nasdaq fell on weakness in tech.
A top U.S. Federal Reserve official said on Tuesday high unemployment and low inflation justify holding benchmark interest rates ultra-low for quite some time but European debt woes are unlikely to derail the U.S. economic recovery.
The Dow and the S&P 500 rose in choppy trading on Tuesday as higher oil prices lifted Exxon, while the Nasdaq fell after an analyst cut price targets on tech bellwethers such as Amazon.com.
European Union finance ministers said on Tuesday they must do more to restrain spending and contain a debt crisis that threatens to spread to countries that do not use the euro such as Hungary and Britain.
European Union finance ministers said on Tuesday they must do more to restrain spending and contain a debt crisis that threatens to spread to countries that do not use the euro such as Hungary and Britain.
Wall Street was flat in choppy trade on Tuesday after relinquishing early gains, as euro-zone concerns offset reassuring comments from Federal Reserve Chairman Ben Bernanke on the state of the U.S. economy.
Wall Street was poised for a higher open on Tuesday after Federal Reserve Chairman Ben Bernanke said the U.S. economy appeared to have enough momentum to avoid a double-dip recession.
U.S. stock index futures were slightly higher on Tuesday after Federal Reserve Chairman Ben Bernanke said the U.S. economy appeared to have enough momentum to avoid a double-dip recession.
Stock index futures were slightly higher on Tuesday, as investors digested comments from Federal Reserve Chairman Ben Bernanke on the strength of the U.S. recovery and the euro-zone debt crisis.
Stock index futures pared early gains on Tuesday, pointing to a mixed open as lingering fears over Europe's debt crisis hit the region's stocks and eclipsed soothing comments from Fed Chairman Ben Bernanke.
Stock index futures pointed to a higher open on Wall Street on Tuesday following the previous session's steep losses, with futures for the S&P 500 up 0.8 percent, Dow Jones futures up 0.8 percent and Nasdaq 100 futures up 1.1 percent at 0733 GMT.
Financial markets stuck to their recent script on Tuesday, following a day of volatility with modest equities gains and a small lift for the euro.
The euro bounced from a four-year low and Asian stocks edged up on Tuesday as traders paused a selloff of riskier assets ahead of Chinese economic data and a European Central Bank meeting later in the week.
Federal Reserve Chairman Ben Bernanke said on Monday a regulatory reform bill that Congress is finalizing would likely address the problem of financial firms being too big to fail.
Federal Reserve Chairman Ben Bernanke said on Monday he was convinced Europe was committed to addressing its debt troubles to keep the European Union together.
Countries with big deficits must offer clear plans on how they will balance their budgets to maintain investor confidence and avoid problems seen in Europe, top economic policymakers said on Monday.
Three top Federal Reserve officials said on Thursday it may soon be time to begin raising interest rates as the economic recovery in the United States gathers momentum, despite persistently high unemployment.
