Aussie dollar falls as U.S., China delay trade meeting; sterling falls

Aussie dollar falls as U.S., China delay trade meeting; sterling falls

Aussie dollar falls as U.S., China delay trade meeting; sterling falls

The significance of such a passage is that if it were to pass, the British Parliament would then vote the next day (Thursday) on whether to instruct the Government to request a postponement of the Brexit departure date beyond 29 March 2019 from the European Union.

US/CAD: The Canadian dollar strengthened to a nine-day high against its US counterpart on Wednesday, as rising stocks and oil prices offset domestic data showing the fifth consecutive monthly decline for home prices.

Oil futures rallied about 2 percent on Wednesday as USA crude inventories unexpectedly fell and an official forecast of crude oil supply growth from the world's top producer was revised lower. United Kingdom lawmakers have rejected the idea of tearing the country out of the European Union with no agreement, and Prime Minister Theresa May is said to be planning to seek an extension to the March 29 Brexit deadline lasting about two months.

United States stock market added to previous session gains on Tuesday led by the health care and utilities shares.

Other data showed new orders for key US -made capital goods rose by the most in six months in January and shipments also rose, but business spending on equipment remained soft, leaving forecasts for weak first-quarter economic growth intact.

Elsewhere, gold fell and copper was dragged down by the Chinese data.

The National People's Congress is set to wrap up on Friday.

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The Stoxx Europe 600 Index climbed 0.8 percent.

USA 30-year bond yields were up at 3.011 percent from 2.99 percent on Tuesday.But yields on both 10-year notes and 30-year bonds have fallen in six of the last eight sessions.

The MSCI Emerging Market Index declined 0.3 percent.

On Wall Street, the Dow Jones Industrial Average rose 68.38 points, or 0.27 percent, to 25,623.04.

Sterling rose 1.72 percent to $1.3298.

The Bloomberg Dollar Spot Index advanced 0.3 percent, the first advance in a week.The euro declined 0.2 percent to $1.1309, the first retreat in a week.The British pound decreased 0.8 percent to $1.3226, the biggest dip in nearly eight weeks.The Japanese yen sank 0.4 percent to 111.64 per dollar, the weakest in more than a week on the largest decrease in nearly two weeks.The MSCI Emerging Markets Currency Index dipped 0.1 percent.

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The dollar index, a gauge of its strength against six other major currencies, was up 0.2 percent at 96.769.

The two-year rate was little changed at 2.46 percent.

In afternoon trading, US 10-year note yields rose to 2.612 percent from 2.605 percent late on Tuesday.

Spot gold gained 0.6 percent to $1,309.30 per ounce as of (2056 GMT), its highest level since March 1.USA gold futures settled 0.9 percent higher at $1,309.3 per ounce.

The Bloomberg Commodity Index fell 0.2 percent. US crude oil futures settled at $58.26 a barrel, rising $1.39 cents, or 2.44 percent.

-With assistance from Sophie Caronello, Cormac Mullen, Adam Haigh, Eddie van der Walt and Brendan Walsh.

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