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European stocks fall at open, ahead of Fed meet

Agence France-PresseJune 18, 2013 04:01
Europe's main stock markets fell at the start of trading on Tuesday, with London's benchmark FTSE 100 index down 0.11 percent to 6,323.48 points, as traders nervously awaited the start of the US Federal Reserve's latest monetary policy meeting. Frankfurt's DAX 30 slid 0.23 percent to 8,196.44 points and in Paris the CAC 40 shed 0.42 percent in value to stand at 3,847.29 compared with Monday's closing levels. Asian equity markets mostly fell on Tuesday, with traders sitting on the sidelines as they await the Federal Reserve's plans for its stimulus programme.

Japan says G8 stance is sign of approval for "Abenomics"

June 18, 2013 00:32
By Stanley White TOKYO (Reuters) - Japanese cabinet ministers welcomed the Group of Eight summit's stance on Tokyo's sweeping stimulus policies as a vote of confidence in the government's strategy to end 15 years of entrenched deflation and revive a lackluster economy. Japan's economics minister also moved to parry any suggestion that Prime Minister Shinzo Abe's policies, known as "Abenomics," are aimed at intentionally weakening the yen to benefit the country's exports.

Obama praises Bernanke, but mum on future

Agence France-PresseJune 18, 2013 00:02
President Barack Obama praised Ben Bernanke for his performance as head of the US Federal Reserve on Monday, but did not say whether Bernanke will stay on at the end of his term next year. "I think Ben Bernanke's done an outstanding job," Obama said in an interview on the Charlie Rose Show, a current affairs interview program broadcast on the PBS television network. "Ben Bernanke's a little bit like Bob Muller, the head of the FBI, where he's already stayed a lot longer than he wanted or he was supposed to," he said.

Dollar firm in Asia as dealers await US Fed move

Agence France-PresseJune 18, 2013 00:02
The dollar edged up in Asia on Tuesday as investors await the outcome of a US Federal Reserve meeting for an idea of when it will begin to reel in its massive stimulus drive. The US unit stood at 94.80 yen in Tokyo in the afternoon, from 94.67 yen in New York late Monday. The euro also rose to 126.63 yen from 126.52 yen, but weakened to $1.3357 from $1.3363. The Federal Open Market Committee will issue a statement on Wednesday after a two-day policy meeting, which will be quickly followed by a press briefing from the bank's chairman Ben Bernanke.

Asian markets slip as US Fed prepares for meeting

Agence France-PresseJune 18, 2013 00:02
Asian markets slipped on Tuesday, with traders sitting on the sidelines as they await the US Federal Reserve's plans for its stimulus programme. The dollar enjoyed another positive day, with Wall Street also providing a strong lead thanks to upbeat US housing data. Tokyo slipped 0.70 percent by the break, Hong Kong was 0.88 percent lower, Sydney shed 0.96 percent and Shanghai was 0.20 percent lower while Seoul was flat.

Japan's Aso: right for BOJ to stick with its expanded QE

June 17, 2013 21:31
TOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Tuesday he thought the Bank of Japan made a correct decision in sticking with its expanded quantitative easing and said he doubted that market participants expect the central bank to ease policy further. Aso, speaking to reporters, said a statement from a Group of Eight leaders' summit shows that understanding of Japanese Prime Minister Shinzo Abe's policies, dubbed "Abenomics," is spreading to other countries. (Reporting by Stanley White; Editing by Shri Navaratnam)

Dollar rises vs. yen ahead of Fed meeting

Agence France-PresseJune 17, 2013 19:00
The dollar rose against the yen after five straight days of losses Monday as investors speculated about the Federal Reserve's direction for monetary policy on the eve of a two-day Fed meeting. The dollar rose to 94.67 yen around 2200 GMT, up from 94.08 yen late Friday. The euro also gained against the Japanese currency, climbing to 126.52 yen from 125.55 yen. The European currency rose to $1.3363 from $1.3340 Friday.

Financial world looks to Bernanke this week to clarify Fed's timetable on economic stimulus

The Canadian PressJune 17, 2013 05:30
WASHINGTON - Is the era of ultra-low interest rates nearing an end? When he takes questions this week after a Federal Reserve meeting, Chairman Ben Bernanke will confront investors' fears that rates are headed higher. Financial markets have been gyrating in the 3 1/2 weeks since Bernanke told Congress the Fed might scale back its effort to keep long-term rates at record lows within "the next few meetings"— earlier than many had assumed.

Spain's public deficit to April around 2.17 percent of GDP

June 17, 2013 17:30
MADRID (Reuters) - Spain's public deficit, excluding the accounts of local governments, was in the first four months of 2013 on track to meet end-of-year targets, according to Reuters' calculations using Treasury Ministry data published on Monday. The public deficit to April, excluding the accounts of local administrations, was 2.17 percent of gross domestic product, according to data for the central government, regional governments and social security system.

Canadian dollar down, markets look to Fed meeting for reassurance about stimulus

The Canadian PressJune 17, 2013 10:02
TORONTO - The Canadian dollar closed lower Monday as traders looked for clarity on whether the U.S. Federal Reserve thinks economic conditions are favourable enough to start easing up on some stimulus. The loonie surrendered early gains to slip 0.08 of a cent to 98.26 cents US. Markets have been volatile since late May when Fed chairman Ben Bernanke said the U.S. central bank would consider cutting back on its US$85 billion of bond purchases each month if economic data — particularly job growth — improved.
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