Fed's June Rate Hike Remains on Table, RBNZ Turns Less Dovish

Wall Street strengthened while US dollar failed to reverse losses after the April FOMC meeting. In commodities, crude oil extended rally despite the DOE/EIA reported increase in crude inventory and decline in gasoline demand. The front-month WIT crude contract rose to a new 2016-high of US$45.62/bbl before settling at 45.33, up +2.93%. The Brent contract also soared to as high as 47.45 before ending the day at 47.18, up +3.15%.