|Important Financial Indicators of the day||Forecast||Previous|
|GBP||11:00 (GMT)||Official Bank Rate||0.50%||0.50%|
|USD||14:00 (GMT)||Fed Chairman Bernanke Testifies|
- EUR/USD The dollar was within 0.1 percent of a more than one-week low against the euro on bets Federal Reserve Chairman Ben S. Bernanke today may signal more stimulus is needed to spur a recovery in the world’s largest economy.
- The dollar was little changed at $1.2580 per euro as of 10:38 a.m. in Tokyo from the close in New York yesterday, when it sank 1 percent and touched $1.2586, the weakest since May 28.
- USC/CAD Canada’s dollar appreciated for a third day versus its U.S. counterpart, the longest streak since April, as speculation global policy makers will take steps to spur economic growth propelled equities and commodities.
- Canada’s currency, nicknamed the loonie, rose 1 percent to C$1.0276 per U.S. dollar at 5 p.m. in Toronto, its biggest intraday move since April 17. One Canadian dollar buys 97.33 U.S. cents
- USD/JPY The yen declined versus most of its 16 major counterparts as Asian stocks extended a global rally, damping demand for lower-yielding currencies.
- The U.S. currency added 0.2 percent to 79.36 yen. The 17-nation euro rose 0.2 percent to 99.83 yen. The Australian dollar strengthened 0.2 percent to 99.50 U.S. cents.
- Oil advanced for a fourth day in New York as policy makers in the U.S. and Europe indicated they may take steps to boost their economies and Iran signaled it will take a hard line in nuclear talks.
- Oil for July delivery increased as much as 73 cents to $85.75 a barrel in electronic trading on the New York Mercantile Exchange and was at $85.64 at 12:19 p.m. Sydney time. The contract yesterday rose 0.9 percent to $85.02, the highest close since May 31. Prices are 13 percent lower this year.
- Gold rose to a four-week high in London as a weaker dollar increased the metal’s appeal as an alternative asset.
- Gold up 4.5 percent this year after 11 consecutive annual increases. Gold at the morning “fixing,” used by some mining companies to sell output, rose to $1,633.25 an ounce in London from $1,606 in the afternoon of June 1. There were no fixings the previous two days because of U.K. public holidays.
- Silver for immediate delivery rose as much as 2.8 percent to $29.3425 an ounce, the highest price since May 10, and was last at $29.3275. Palladium was little changed at $624.25 an ounce, after reaching $629.50, the highest price since May 8. Platinum climbed as much as 2.4 percent to a two-week high of $1,472.25 an ounce, and last traded at $1,461.
- Asian stocks climbed, with the benchmark regional gauge heading for its biggest three-day gain this year, as global policy makers signaled they may take steps to stimulate economic growth.
- Japan’s Nikkei 225 climbed 1.1 percent, Korea’s Kospi Index advanced 2.7 percent and Hong Kong’s Hang Seng rose 1.7 percent. China’s benchmark Shanghai Composite Index gained 0.4 percent.
- European stocks surged the most in six months after the European Central Bank held its benchmark interest rate at a record low and said it’s ready to act if necessary as the growth outlook dims.
- European markets that were open. Germany’s DAX rose 2.1 percent, while the U.K.’s FTSE 100 gained 2.4 percent in its first day of trading this week after a two-day holiday for the royal jubilee. France’s CAC 40 also rallied 2.4 percent.
- U.S stocks rallied, giving benchmark indexes their biggest gains in 2012, on speculation global policy makers will take steps to stimulate economic growth.
- o The Standard & Poor’s 500 Index advanced 2.3 percent to 1,315.13 at 4 p.m. New York time. The Dow Jones Industrial Average increased 286.84 points, or 2.4 percent, to 12,414.79. About 7.3 billion shares changed hands on U.S. exchanges today, or 8.3 percent above the three-month average.