The euro fell the most in a week against the dollar and the yen on concern European banks will struggle to raise funds, damping the region’s economic outlook.
The 16-nation currency weakened against 15 of its 16 major counterparts after the Association of German Banks said the nation’s 10 largest lenders, including Deutsche Bank AG, may [...]
Archive for the ‘Global Economy’ Category
Euro Declines on Speculation European Banks Will Struggle to Raise Funds
September 6th, 2010 by Financial Writer
Tags: bank of japan, economists, european economy, financial crisis, financial system, investors, money, wall street
more...Stocks Rally as Jobs Data Spurs Optimism
September 3rd, 2010 by Financial Writer
Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.
The S&P 500 gained 3.8 percent for the week, its best in eight, setting the stage for a more bullish mood when markets re-open Tuesday after the [...]
Tags: Dow Jones Industrial, economic estimates, economists, financial markets, financial system, Nasdaq composite, US Treasuries, wall street
European Exports, Investments Spur Economy’s Recovery
September 2nd, 2010 by Financial Writer
European exports surged the most on record and corporate spending rebounded from a two-year slump in the second quarter, fueling the region’s fastest economic expansion in four years.
Exports from the 16-nation euro region jumped 4.4 percent from the first quarter, the biggest gain since data were first compiled in 1995, while corporate spending rose 1.8 [...]
Tags: economic growth, economists, economy activity, european central bank, european economy, global recovery, interest rates
Chinese manufacturing snaps out of slowdown
September 1st, 2010 by Financial Writer
China’s manufacturing economy staged a moderate rebound in August after slowing for several months under the onslaught of government measures to rein in credit and deter property speculation.
Despite encouraging signs of stabilization in a pair of business surveys released on Wednesday, analysts cautioned that the robust domestic economy would have to battle the headwinds of [...]
Tags: Chinese economy, economic activity, economic growth, economists, precious metal
FOREX-Yen nears 15-year peak versus dollar; euro rises
August 31st, 2010 by Financial Writer
* Market tests Japan’s willingness to intervene
* Dwindling U.S.-Japan yield gap seen hurting dollar
* Euro hits record low against Swiss franc on risk aversion (Adds detail, updates prices, changes byline, changes dateline, previous LONDON)
The yen rose toward a 15-year high against the dollar on Tuesday as investors shrugged off the Bank of Japan’s latest easing [...]
Tags: bank of japan, currency market, Federal Reserve, financial, investors, wells fargo
Japan Yen Intervention May Fail Without U.S., European Union Coordination
August 29th, 2010 by Financial Writer
Any effort by Japan to weaken the yen after it rallied to a 15-year high may fail without help from the U.S. and the European Union, currency strategists say.
Speculation that Japan may intervene in the foreign- exchange market rose after Prime Minister Naoto Kan said Aug. 27 the government is ready to take “bold” action. [...]
Tags: bank of japan, currency market, economic recovery, Global Economy, investors
Bernanke Signals Fed Is Ready to Prop Up Economy
August 27th, 2010 by Financial Writer
The Federal Reserve chairman, Ben S. Bernanke, said Friday that the central bank was determined to prevent the economy from slipping into a cycle of falling prices, even as he emphasized that he believed growth would continue in the second half of the year, “albeit at a relatively modest pace.”
To help sustain the economy, Mr. [...]
Tags: ben bernanke, borrowers, central bank, economists, european central bank, Federal Reserve, IMF, interest rates
China’s top banks face harsh reality after strong H1
August 26th, 2010 by Financial Writer
Top Chinese lenders ICBC (1398.HK) and Bank of China (3988.HK) signaled a peaking of earnings growth after strong second-quarter profits, as they slowed their lending and focused on asset quality.
Chinese banks, which are trying to become more commercial and move away from their policy-based lending past, have benefited over the past year from a jump [...]
Tags: bank of china, Chinese economy, economy recovery, financial system, Global Economy, money, real estate sector
Canadian Stocks Fall as U.S. Manufacturing Data Trail Forecast
August 25th, 2010 by Financial Writer
Canadian stocks fell for a third day after the U.S. reported a smaller increase in durable-goods orders than forecast and an unexpected drop in home sales.
Manulife Financial Corp., North America’s third-largest insurer, dropped 2.9 percent as U.S. new-home sales slumped to their lowest level on record. Canadian Imperial Bank of Commerce, the country’s fifth-biggest bank, [...]
Tags: commerce department, economists, financial system, home sales, housing market, money, stock market, us unemployment
Stocks drop on global economic worries
August 24th, 2010 by Financial Writer
NEW YORK — Stocks retreated Tuesday as worries continue to mount about the pace of a global recovery.
U.S. traders braced for another disappointing report on the housing market later in the day. Overseas markets tumbled.
The Dow Jones industrial average fell more than 100 points in morning trading. Broader indexes also fell more than 1 percent. [...]
Tags: Dow Jones Industrial, economic growth, global recovery, home sales, housing market, interest rates, mortgage rates, Nasdaq composite, stock market, unemployment rate