• The U.S. Federal Reserve kept interest rates unchanged on Wednesday and downplayed weak first-quarter economic growth while emphasizing the strength of the labor market, in a sign it was still on track for two more rate rises this year.
In a bullish statement following the end of a two-day policy meeting, the central bank also said consumer spending continued to be solid, business investment had firmed and inflation has been "running close" to the Fed's target.
"The committee views the slowing in growth during the first quarter as likely to be transitory," the Fed said in a unanimous statement.
• Futures traders are now pricing in a 72 percent chance of a June rate hike, from 63 percent before the Fed's statement, according to the CME Group's FedWatch Tool.
• The dollar hit a six-week high against the yen on Thursday, after the U.S. Federal Reserve downplayed weak first-quarter economic growth and was seen as leaving the door open to raising interest rates in June.
The dollar rose 0.1 percent to 112.84 yen JPY=. The greenback touched 112.86 yen at one point in early Asian trade, its highest level in more than six weeks.
The dollar index .DXY, which tracks the greenback against a basket of trade-weighted peers, climbed 0.1 percent to 99.332, building on Wednesday's 0.2 percent jump.
The euro edged up 0.1 percent to $1.0892 EUR=, regaining a bit of ground after falling 0.4 percent on Wednesday and edging away from a 5-1/2 month high of $1.0951 set last week.
• U.S. companies hired workers at a slower but still-solid pace in April while the services sector grew more than expected, supporting the notion the economic expansion remains on track despite a weak first quarter, private reports released on Wednesday showed.
• Payrolls processor ADP said on Wednesday private employers added 177,000 jobs last month. It was the smallest gain since the 62,000 increase last October but slightly above the 175,000 median forecast among economists polled by Reuters.
Private payroll gains for March were revised down to 255,000 from an originally reported 263,000 increase.
• The Institute for Supply Management (ISM) said on Wednesday its index of non-manufacturing activity rose to 57.5 in April from March's 55.2, which was above analysts' expectations of 55.8.
A reading above 50 indicates expansion in the services sector, which accounts for nearly 80 percent of the U.S. economy.
• In a possible breakthrough for U.S. Republicans' effort to roll back Obamacare, the House of Representatives plans to hold a vote Thursday on compromise legislation, potentially ending a logjam that has delayed advancing President Donald Trump's campaign promise to repeal the law.
House Majority Leader Kevin McCarthy said Republican leadership is confident there is enough support for the bill to pass.
• President Donald Trump is expected to take executive action on Thursday to effectively lift a ban on political activity by churches and other tax-exempt institutions, a senior White House official said on Wednesday.
• Oil prices settled slightly higher on Wednesday after a choppy trading session as the market digested U.S. government data showing that while there were signs a crude glut may be receding, inventories remained large with gasoline demand weak.
U.S. West Texas Intermediate (WTI) crude CLc1 settled up 16 cents at $47.82 a barrel. Benchmark Brent crude LCOc1 was up 33 cents at $50.79.
Reference: Reuters
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