China’s central bank said it will widen overseas access to its domestic bond market as part of a program to promote the use of its yuan currency in international trade.
The trial program, announced Tuesday, will allow some yuan held offshore to be invested in China’s interbank bond market, where most government and corporate debt trades [...]
Archive for the ‘Market Finance’ Category
China Expands Access to Bond Market
August 17th, 2010 by Financial Writer
Tags: bank of china, Chinese economy, economists, financial markets, financial system, investment
more...Defying Others, Germany Finds Economic Success
August 15th, 2010 by Financial Writer
Germany has sparred with its European partners over how to respond to the financial crisis, argued with the United States over the benefits of stimulus versus austerity, and defiantly pursued its own vision of how to keep its economy strong.
Statistics released Friday will buttress the German view that they had the formula right all along. [...]
Tags: businesses, economic growth, economic recovery, financial, financial crisis, financial system, unemployment, us economy
Japan Is Alone Over Yen
August 13th, 2010 by Financial Writer
The last time the dollar dropped below the levels it reached Wednesday against the yen, the Bank of Japan and the Federal Reserve jointly intervened to push it higher. That was in July 1995.
No wonder currency traders got a bit nervous Thursday when Japanese officials complained about the strength of their currency amid the latest [...]
Tags: bank of china, bank of japan, economic crisis, economy, Federal Reserve, financial markets, financial system, us consumers, us economic
Yen Weakens on Speculation Japan Will Curb Gains
August 12th, 2010 by Financial Writer
The dollar gained against the yen and euro after U.S. jobless-insurance claims unexpectedly rose, fueling appetite for the currency’s safety amid speculation the world’s largest economy may be slow to recover.
The euro weakened versus the dollar, after dropping the most in almost 22 months yesterday, as a report showed European industrial production unexpectedly contracted in [...]
Tags: bank of japan, economists, economy activity, japan's economy, japanese business, unemployment rate
European Stocks Drop On Doubts About Global Economy
August 11th, 2010 by Financial Writer
European stocks tumbled Wednesday, with weaker-than-expected U.S. and Chinese data and a downbeat outlook from the Federal Reserve raising doubts over the sustainability of the global recovery. The euro fell against the dollar, while gold and oil prices declined.
The Stoxx Europe 600 index closed down 2% at 254.68. The U.K.’s FTSE 100 index fell 2.4% [...]
Tags: Chinese economy, economic growth, economic recovery, european stocks, Federal Reserve, global recovery, stock market, us economy
Asian Reserves Jump in July as Euro Soars
August 10th, 2010 by Financial Writer
Asia’s foreign exchange hit a record high in July as the region’s fast-growing economies kept attracting strong inflows amid sluggish growth in the developed world, burnishing the role of Asian central banks as key players in the currency market.
Reserves held by 11 key Asian central banks, excluding China’s, amounted to $2.861 trillion at the end [...]
Tags: asian markets, Chinese economy, dow jones, european economy, financial markets, Global Economy, Global Markets, IMF, monetary
Yen Drops Against Most Major Counterparts as Stock Gains Dim Haven Demand
August 9th, 2010 by Financial Writer
The yen fell against higher-yielding currencies including the Mexican peso and Australian dollar as stocks rose, reducing demand for a refuge.
The dollar advanced from almost a three-month low against the euro on concern the greenback’s recent drop would be hard to sustain. The U.S. currency declined 1.7 percent last week as investors speculated that a [...]
Tags: bank of america, bank of japan, commercial banks, economists, economy activity, european stocks, Federal Reserve, investors
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
Unemployment report portrays stagnant job market
August 6th, 2010 by Financial Writer
Private business added only 71,000 new net jobs in July as payrolls fell for a second straight month nationally, the Labor Department reports.
The employment picture in the U.S. remained bleak last month as the nation’s payrolls fell for a second straight month, with private-sector businesses adding a disappointingly scant number of new jobs. The jobless [...]
Tags: business, economic indicators, economists, financial system, Global Economy, money, unemployment, unemployment rate, us economic, us economy
ECB’s Trichet Says Euro-Area Economy Stronger Than Expected
August 5th, 2010 by Financial Writer
European Central Bank President Jean- Claude Trichet said the euro-area economy is strengthening faster than forecast and money markets are improving as the region recovers from its sovereign debt crisis.
“The available data for the third quarter are better than expected,” Trichet told reporters in Frankfurt today after the ECB’s Governing Council set its benchmark rate [...]
Tags: debt crisis, economic, economic growth, economy recovery, european central bank, financial, Global Markets, investors, money