Hammond, who became chancellor last July, stepped up to the dispatch box in Parliament just after 12.30 p.m. GMT (7.30 a.m. ET) on Wednesday to give his first formal budget speech. It is not his first fiscal policy statement, however — he delivered one Autumn Statement in late November 2016.
European shares edged up on Wednesday after minor gains in Asia as Chinese import data signaled a recovering economy, while the dollar rose before jobs numbers that could help cement expectations that U.S. interest rates will rise next week.
Sometimes it seems like the financial news world is rooting for the next big correction to blow up equity markets. In article after article, it's almost like the industry wants a meltdown, or at least spark a little bit of market volatility. It's good for headlines, it draws in the readers. Set aside the business case for media: this is simply not the right time to be talking about market corrections.
Next trading day's important events
- USDJPY: 114.58
- EURUSD: 114.58
- S&P 500: 2368.39
- NASDAQ: 5833.93