GLOBAL MARKETS: Dollar hits 3-year low before Fed, Asia stocks up
HONG KONG, April 27 (Reuters) - The U.S. dollar plumbed a near 3-year low against other major currencies on Wednesday before a Federal Reserve decision where it is expected to reinforce its ultra-easy policy stance while stocks in Asia's developed markets rose, tracking a strong close on Wall Street.
"Focus will be on the inaugural press conference and whether Bernanke is shifting along the dove-hawk scale," said Michael Sneyd, analyst at Societe Generale.
OIL: Brent edges up eyeing Fed meeting, weak dollar
NEW YORK, April 26 (Reuters) - Brent crude edged up in volatile trading while U.S. crude ended little changed on Tuesday as investors eyed a U.S. Federal Reserve two-day policy meeting for any signal of a change in monetary policy.
"This week, it will be all about the Fed meeting. Volume and volatility will come back after the meeting," said Olivier Jakob of Petromatrix in Switzerland.
U.S. crude stocks seen up on higher imports
BANGALORE/NEW YORK, April 26 (Reuters) - U.S. crude oil stockpiles are expected to have risen last week, with crude imports exceeding demand from refineries, an expanded Reuters poll ahead of weekly inventory reports showed on Tuesday.
The increase follows an unexpected drawdown the week before, which was the first decline in domestic crude stocks in seven weeks, according to the poll of 13 analysts.
Obama urges oil producers to increase output
WASHINGTON, April 26 (Reuters) - President Barack Obama on Tuesday urged world oil producers to lift crude output, as he sought to deflect public anger over high gasoline prices that has hurt his popularity among voters.
U.S. motor fuel prices have become a heated political issue after pushing toward $4 a gallon. Gasoline futures hit 33-month highs on Tuesday.
NATURAL GAS: Natural gas ends down slightly on profit taking
NEW YORK, April 26 (Reuters) - U.S. natural gas futures ended slightly lower on Tuesday, lightly pressured by milder Northeast and Midwest weather this week and profit taking ahead of the May contract expiration on Wednesday.
"We came off a little ahead of (options and futures) expiration. Injections (into storage) are starting to pick up, and it's been hot in Texas, but the current 15-day (forecast) doesn't look as hot," a Texas-based trader said, noting recent heat in the South has boosted cooling demand.
EURO COAL: June ARA trades at $127/T, China prices rise
LONDON, April 26 (Reuters) - Prompt European delivered physical coal values fell by around $2.00 a tonne on Tuesday in illiquid trading.
"The dollar's coming under pressure again, which can only help prices but fundamentally not a lot has changed in the past week," one European trader said.
COMMODITIES: Silver, wheat tumble, but most markets await Fed
NEW YORK, April 26 (Reuters) - Silver and wheat tumbled on Tuesday after rallying a day ago but most commodities saw small price moves as investors avoided big bets ahead of a news conference by U.S. Federal Reserve Chairman Ben Bernanke.
"I think there's plenty of nervousness in the market and any upside activity is going to be tempered," said Sterling Smith, who follows a wide range of commodities for Country Hedging Inc. in St. Paul, Minnesota.
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