The euro fell to the lowest level in five weeks against the dollar after European Central Bank council member Axel Weber said the region’s economy may need help from the central bank through the end of the year.
The shared currency dropped to the least since July 1 versus the Swiss franc after Weber told Bloomberg [...]
Archive for the ‘Economic Turmoil’ Category
Euro Drops Five-Week Low Versus Dollar as Weber Cites ECB Liquidity Plan
August 20th, 2010 by Financial Writer
Tags: businesses, economic growth, economists, economy recovery, european central bank, financial, global economic, home sales, us economy
more...Gold hits 3-week high as U.S. data knocks dollar
August 7th, 2010 by Financial Writer
Gold prices rose more than 1 percent to their highest in three weeks on Friday after data showing U.S. payrolls fell for a second straight month, and by more than expected, knocked the dollar.
Spot gold rose as high as $1,208.65 an ounce, its strongest since July 16, and was at $1,207.10 an ounce at 1308 [...]
Tags: China, economic reports, Federal Reserve, global financial markets, gold price, precious metal, us stocks
Geithner Says U.S. Unemployment May Rise Again Before Declining
August 3rd, 2010 by Financial Writer
Treasury Secretary Timothy F. Geithner said U.S. unemployment may rise again before it falls and the economy isn’t recovering rapidly enough.
“It’s possible you’re going to have a couple months where it goes up,” he said on ABC’s “Good Morning America” program. “People start to come back into the labor force, and that can cause the [...]
Tags: businesses, commerce department, economists, economy recovery, financial system, money, unemployment rate, us, us economy, US Treasuries
Vital Signs: A More Upbeat Fed?
August 2nd, 2010 by Financial Writer
On deck: FOMC meeting, leading indicators, home prices, home sales, durable goods, consumer sentiment.
The main event for the markets this week will be the Federal Reserve’s two-day policy meeting, beginning on Tuesday and concluding with the Fed’s always eagerly–awaited policy statement at 2:15 p.m. on Wednesday. Analysts expect the Fed to sound a bit more [...]
Tags: ben bernanke, commercial real estate, economic activity, economists, Federal Reserve, home prices, home sales, interest rates
South Korea’s Industrial Output Rises for 12th Month, Exceeding Forecasts
July 29th, 2010 by Financial Writer
South Korea’s industrial output rose more than forecast in June, expanding for a 12th month, showing resilience to risks from advanced economies and providing more reason to keep raising rates.
Output gained 16.9 percent from a year earlier, after rising a revised 21.7 percent in May, the statistics office said in Gwacheon today. That compared with [...]
Tags: borrowers, consumers, economic growth, economists, Global Financial, global financial crisis, interest rates, South Korean
20% of Americans hit by major economic loss
July 22nd, 2010 by Financial Writer
A new study released Wednesday estimates that 20% of Americans suffered a significant economic loss last year - the highest level in the past 25 years.
The new Economic Security Index looks at the interaction of three key variables that have a direct bearing on a person’s economic security: income loss, medical expenses and debt.
The index, [...]
Tags: debt crisis, economic estimates, economists, financial, financial markets, financial system, money, us economic, us economy
Stocks Shrug Off Earnings, Wait for Bernanke
July 21st, 2010 by Financial Writer
U.S. stocks wavered, as lagging health-care stocks competed with enthusiasm over second-quarter earnings from financials ahead of testimony from Federal Reserve Chairman Ben Bernanke.
Investors will be listening for any guidance Mr. Bernanke offers on the possibility of the economy slowing down in the second half and what further tools the Fed has at its disposal [...]
Tags: Dow Jones Industrial, economic growth, economy recovery, financial system, investment, money, Nasdaq composite, us, us economic, us stocks, wells fargo
Holding Bankers’ Feet to the Fire
July 18th, 2010 by Financial Writer
KUDOS to the Federal Housing Finance Agency, overseer of Fannie Mae and Freddie Mac, the crippled mortgage finance giants. While some in Washington have continued to coddle the big banks even after they drove our economy into the ditch, this agency seems serious about recovering money for taxpayers by holding bad financial actors to account.
The [...]
Tags: banks, business, economy recovery, fannie Mae, financial markets, financial system, freddie Mac, Global Economy, investors, mortgage finance, taxpayers, us economic, us stocks, wall street
Treasury Two-Year Yield Drops to Record Low on Slowdown Concern
July 15th, 2010 by Financial Writer
Treasury two-year note yields dropped to a record low after reports showed a gauge of New York manufacturing trailed economists’ estimates and production at U.S. manufacturers declined.
Yields on two-year notes, the most sensitive to changes in Federal Reserve policy, fell to 0.5767 percent, below the previous record of 0.5856 percent reached on June 30. Bank [...]
Tags: bank of america, economists, Federal Reserve, financial system, interest rates, us, us economic, us economy, us manufactured, us stocks, us treasury
Bailed-out small US banks face takeover risk -panel
July 14th, 2010 by Financial Writer
Smaller banks that got U.S. government bailout money are likely to run into trouble repaying it and may become vulnerable to takeovers as a result, a congressional watchdog agency warned on Wednesday.
In its latest critique of the Treasury Department’s handling of the Troubled Asset Relief Program, or TARP, the Congressional Oversight Panel said smaller banks [...]
Tags: banks, commercial real estate, economic, financial crisis, real estate investment, taxpayers, us, us economic, us government, us treasury, wall street