Ariana Gifford didn’t think things could get much worse when the Christchurch quake traumatized her children and smashed possessions. Three years on, she’s struggling to make ends meet after a 30 percent jump in rent.
The euro rallied for a fifth week as European Central Bank President Maro Draghi said he expects inflation in the currency bloc to gradually rise, damping bets that policy makers would reduce the benchmark interest rate.
Stepping up verbal intervention may be the Reserve Bank of Australia’s only option to curb the Aussie as strengthening economic data and a neutral policy stance drive the currency toward a three-month high.
Australia’s dollar climbed to the strongest in more than a week after data today showed the January trade surplus widened to the most in 2 1/2 years and retail sales rose three times faster than economists forecast.
Investors are the most bearish on Australian stocks since 2007 after last month’s rally pushed up valuations by the most since April and the central bank signaled a reluctance to add stimulus to the economy.
The U.S. economy will grow this year at its fastest pace since 2005, helping reduce the annual average unemployment rate for a fourth straight year even as market borrowing costs rise, the Obama administration predicted.