Currencies

• EUR/USD The dollar maintained a two-day decline against the euro amid signs the U.S. economy is gaining momentum and as Asian stocks extended a global rally, damping demand for haven currencies.
  • The greenback was unchanged at $1.2863 per euro as of 6:53 a.m. in London from yesterday in New York, when it slid 1 percent, the most since Nov. 11.

• AUD/USD Australia's dollar declined yesterday after a government report showed the nation's employers unexpectedly cut jobs in December.
  • Australia's dollar fell 0.5 percent to $1.0384 at 4:48 p.m. in Sydney.

Commodities

• Oil declined in New York as the Obama administration denied a permit for TransCanada Corp. (TRP)'s Keystone XL pipeline, which would have carried crude to U.S. Gulf Coast refineries from Alberta's oil sands.
  • Crude oil for February delivery fell 12 cents to settle at $100.59 a barrel on the New York Mercantile Exchange.

• Gold futures climbed to the highest settlement price in five weeks as a slumping dollar boosted the appeal of the precious metal as an alternative asset.
  • Gold futures for February delivery rose 0.3 percent to close at $1,659.90 an ounce at 1:39 p.m. on the Comex in New York, the highest settlement since Dec. 13.

Equities

• Asian stocks rose, spurring a record start to the year for the regional benchmark index, amid signs China will relax credit controls and after confidence among U.S. homebuilders beat estimates.
  • Japan's Nikkei 225 Stock Average rose 1 percent.
  • Hong Kong's Hang Seng Index rose 1.3 percent.

• US stocks rose, giving the Standard & Poor's 500 Index its best start to a year since 1987, after confidence among homebuilders topped forecasts.
  • The S&P 500 increased 1.1 percent.
  • The Dow advanced 96.88 points, or 0.8 percent.
  • The Nasdaq Composite Index climbed 1.5 percent.

• Most European stocks rose as the International Monetary Fund said it plans to raise as much as $500 billion to expand its lending resources and Greece neared a debt deal with its private creditors.
  • The U.K.'s FTSE 100 Index rose 0.2 percent.
  • Germany's DAX Index advanced 0.3 percent.

Sources: Bloomberg, FT