European Shares Seen Up After Dutch Vote Result

27674208- 16_04_2013- AUSTRALIA NZ

USD/CAD is supported at 1.3439 levels and is trading at 1.3488 levels.

US stocks surged on Wednesday, while Treasury yields fell and the dollar weakened, after the Federal Reserve raised interest rates for the second time in three months but did not flag any plan to accelerate the pace of monetary tightening. USA producer prices rose more than expected last month, marking the most robust year-on-year gain in almost five years. Economists had been expecting growth of 0.75 percent while the central bank tipped growth of 1.0 percent on quarter.

The kiwi dollar fell to 69.73USc as at 8:30am in Wellington from 69.91USc late yesterday.

AUD/USD is supported around 0.7546 levels and now trading at 0.7565 levels.

In addition to the Fed and the BOJ, central bank decisions are expected Thursday in the U.K., Switzerland, Indonesia and Turkey. Also supporting the upbeat dollar sentiment was a report that showed US Producer prices increased in February.

WTI crude oil extended its gain, rising 0.3 percent to $49.12 a barrel after rising 1 percent Wednesday, its third straight daily gain. Trading volume was light ahead of a Federal Reserve statement due on Wednesday in which the USA central bank is expected to raise interest rates by 25 basis points.

The kiwi dollar traded at 65.29 euro cents from 64.96 cents late yesterday.

The Swiss National Bank will also announce its interest rate decision.

"Policymakers did not accompany the rate hike with the hawkish signals many market participants may have expected and as such, the USA dollar plunged and continued lower during Chair Yellen's press conference [before recovering Thursday]", said Charalambos Pissouros, senior analyst with IronFX Global.




The S&P 500 Index jumped by the most in two weeks while contracts on Australian, Korean and Taiwanese stock indexes pointed higher.

U.S. Treasury yields, which slid after the decision, staged a recovery on Thursday and continued to rise on Friday.

USA two-year notes, which are considered most vulnerable to Fed policy, were last down slightly in price to yield 1.380 percent, from a yield of 1.372 percent late Monday.

The yield on 10-year Treasury notes fell 11 basis points to 2.4930 percent. Two-year notes edged slightly higher to exhibit a "curve flattener" trade ahead of the Fed statement.

Oil prices rose after six sessions of declines, with the greenback-denominated commodity extending gains as the dollar weakened.

Futures on Australia's S&P/ASX 200 Index rose 0.6 percent, while contracts on South Korea's Kospi were up 1.1%.

USA crude settled up 2.4 percent at $48.86 a barrel, after touching a three-month low a day earlier. It is down nearly 11 percent since March 3.

With a Fed rate increase already seen as a done deal, investor focus was on what kind of a message the Fed would deliver after its two-day meeting starting later on Tuesday. US gold futures settled down 0.04 percent at $1,202.60.

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