Japan’s service sector activity returned to growth in April after stagnating the previous month, helped by improved orders, a stark contrast to continued weakness in manufacturing, a business survey showed on Wednesday.
The U.S. goods and services deficit widened in March following an uptick in imports as businesses raced to lock in prices before the implementation of elevated tariffs.
Most Asian stocks rose on Wednesday, with Chinese markets in the lead after the announcement of trade talks with the U.S. pushed up hopes for a deescalation in an ongoing trade war.
Oil prices rose on Wednesday, holding slightly above recent four-year lows, as investors focused on U.S.-China trade talks and signs of lower U.S. production.
The U.S. dollar rose against the safe-haven yen and Swiss franc while steadying versus the euro as investors looked towards the impending outcome of the Federal Reserve policy meeting later in the session and tariff negotiations.
