Bay Street Stocks Look To Build On Gains From Previous Session Wednesday Morning - Canadian Commentary []

Bay Street Stocks Look To Build On Gains From Previous Session Wednesday Morning - Canadian Commentary []
Canadian stocks will look to extend their modest gains from the previous session on Wednesday as traders braced for guidance from the US, where key economic data could chart the course future Federal Reserve rate decisions.

European Markets Rise, Led By Banks - European Commentary []
The European markets rose the most in more than four years on Wednesday, as banking stocks rallied on hopes for another rate cut by the U.S. Federal Reserve following comments made by a top Fed official.

Euro Continues To Battle Back Versus Dollar [EUR/USD]
The euro has continued to charge back from significant early losses to the dollar Wednesday afternoon in New York, and was down only slightly from the previous session. The euro dropped to 1.4711 before dovish remarks from a Federal Reserve official sparked widespread selling of the greenback.

Japan Stocks Poised For Higher Move On Wall Street Lead, Citigroup Bail-Out []
The move by Abu Dhabi in the United Arab Emirates to infuse US$7.5 billion into troubled lender Citigroup sent stocks soaring on Wall Street on Tuesday, with carryover effects expected in Tokyo trading on Wednesday.

Yen Weakens Versus Majors As Risk Aversion Wanes [USD/JPY]
The recently resurgent yen came under heavy pressure versus its major counterparts Wednesday morning amid a revival of appetite for riskier, higher-yielding currencies.

BWS Suggests Wednesday That MRVL Could Be Considered As Buying Opportunity []
Hamed Khorsand from BWS Financial remarked on Wednesday morning that they do not consider the credit market turmoil to be a concern for the market today unless there is fresh news that would ignite fears. He noted that the Street is already aware of the problems hurting financials, but there is some calm due to capital being available for investment in banks on a moment's notice.

Dollar Pares Early Gains After Fed Seen Hinting At Rate Cut [EUR/USD]
The dollar gave back a portion of its early gains against other majors after Federal Reserve Vice Chairman Donald Kohn hinted that the Fed is leaning towards cutting its key interest rate. Kohn said in a speech Wednesday morning that US economic uncertainty was unusually high.

New Zealand Currency Rises Against Pound [GBP/NZD]
Versus the sterling, the New Zealand currency saw strength in action. By Wednesday's mid-day, the kiwi had risen to a mark of 2.6823 against the pound. Interest rates in Britain are likely to fall in next two years according to the Bank of England's deputy governor, Rachel Lomax.

Another Jittery Day For China Stocks []
The threat of further government tightening continues to hang over the China stock market as it prepares for Wednesday's action, mired in a two-day losing streak. The Shanghai Composite Index also has finished lower in seven of the last nine sessions, shedding more than 500 points in that span and now hitting a three-month low.