Currencies

• EUR/USD The 17-nation euro fell against its U.S. counterpart on speculation European Central Bank President Jean- Claude Trichet will signal a less aggressive stance toward inflation, during an ECB meeting today.
  • European Central Bank President Jean-Claude Trichet will probably resist calls to cut the benchmark interest rate today.
  • The dollar fetched $1.4064 per euro at 1:53 p.m. in Tokyo from $1.4098 in New York yesterday.
  
  

• USD/JPY The greenback snapped yesterday's losses versus the yen on prospects Obama's plans will make it less likely that Federal Reserve Chairman Ben S. Bernanke will add to monetary easing.
  • Obama will address a joint session of Congress today on proposals to speed job creation that may inject more than $300 billion into the economy next year
  • The dollar traded at 77.38 yen from 77.26 yen.
  
  

• AUD/USD Australia's dollar fell against the dollar after data signaling slower growth in the U.S. and Japan damped optimism about the South Pacific nation's trade prospects.
  • Furthermore, the jobless rate in Australia climbed to 5.3 percent, the highest since October 2010, from 5.1 percent in July.
  • Australia's currency dropped to $1.0591 at 3:39 p.m. in Sydney, from $1.0662 yesterday.

Commodities

• Gold rose after a two-day decline on the outlook of the U.S. Outlook.
  • Gold for immediate delivery rose as much as 0.4 percent to $1,824.95 an ounce, and traded at $1,823.65 at 8:23 a.m. Singapore time.
  • December-delivery futures in New York gained as much as 0.6 percent to $1,827.60 an ounce.

• Oil rose in New York on speculation a storm building in the Gulf of Mexico poses a threat to supplies in the U.S.
  • The industry- funded American Petroleum Institute said inventories fell 2.97 million barrels.
  • Crude for October delivery rose 18 cents, or 0.2 percent, to $89.52 a barrel in electronic trading on the New York Mercantile Exchange at 1:44 p.m. Singapore time.

Equities

• US Stocks rose as investors speculated President Barack Obama's plan to inject more than $300 billion into the economy will bolster growth.
  • Bank of America Corp. (BAC) added 7 percent after a shakeup in management while Yahoo! Inc. climbed 5.4 percent.
  • The S&P 500 rallied 2.9 percent to 1,198.62 at 4 p.m. in New York.
  • The Dow Jones Industrial Average added 275.56 points, or 2.5 percent, to 11,414.86.


• European stocks rose on Wednesday, with Greek stocks surging 8% after Germany's Constitutional Court upheld the participation of the euro zone's biggest member in bailouts of the bloc's indebted nations.
  • Greek stocks gained as Germany's top court rejected challenges to the participation of Europe's largest economy in euro rescue funds
  • The U.K.'s FTSE 100 increased 3.1 percent.
  • France's CAC 40 Index rose 3.6 percent while Germany's DAX Index advanced 4.1 percent.

• Asian stocks swung between gains and losses as job declines in Australia, share sale concerns and a report China may raise interest rates countered speculation the U.S. will do more to stimulate economic growth.
  • Samsung Electronics Co. rose 2.6 percent in Seoul while Commonwealth Bank of Australia slumped 0.9 percent in Sydney.
  • The MSCI Asia Pacific Index climbed 0.1 percent to 121.83 at 2:36 p.m. in Tokyo.
  • Japan's Nikkei 225 (NKY) Stock Average rose 0.2 percent.
  • Hong Kong's Hang Seng Index dropped 0.6 percent.

Sources: Bloomberg, FT