Antipodean currencies such as the Australian and the New Zealand dollars strengthened against their major counterparts in the Asian session on Wednesday as risk appetite rose following the positive cues overnight from Wall Street. However, gains are modest as investors turned cautious ahead of the release of the U.S. Federal Reserve minutes later in the day.
The Federal Reserve minutes are expected to provide more insight on the probability of an interest rate increase at the Fed’s March meeting.
Investors are also digesting mixed corporate earnings results.
Crude oil delivery for April is currently up by 0.19 percent or $54.52 per barrel. Crude oil prices rose as OPEC Secretary General Mohammad Barkindo discussed the cartel’s supply quota agreement.
In economic news, data from Westpac Bank showed that the Australian economy continued to expand in January, albeit at a slower pace,…