Loonie advances for a third consecutive day

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Source: Bloomberg
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On Wednesday the Canadian currency strengthened for a third straight day against its US peer on hopes for monetary stimulus. Commodities and stocks also reflected optimism on Fed's decision. Canadian Dollar jumped 1% to CAD 1.0276. Currently USD/CAD is trading at CAD 1.0273.
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Thu, 07 Jun 2012 09:15:25 GMT

US shares rally on hopes for monetary stimulus

US stocks appreciated sharply on Wednesday amid positive news from housing sector and on speculation Federal Reserve may indicate further stimulus for this summer. S&P 500 rocketed 2.30% or 29.63 points and closed at 1,315.13. Dow Jones Industrial Average surged 2.37% or 286.84 points to 12,414.79. Nasdaq Composite advanced 2.4% or 66.61 points and finished at 2,844.72. 

Thu, 07 Jun 2012 08:53:27 GMT

US Dollar moves towards one-week low ahead of Bernake's speech

The Greenback traded close to one-week record low versus 17-nation currency ahead of Fed Chairman Ben Bernake's speech today. Investors expect indication of additional stimulus to the world's largest economy. Euro advanced against Dollar to USD 1.2563 in Asian trade. Currently EUR/USD is trading at USD 1.2568.

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