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 [...]
Archive for the ‘US Finance’ Category
Yen Weakens on Speculation Japan Will Curb Gains
August 12th, 2010 by Financial Writer
Tags: bank of japan, economists, economy activity, japan's economy, japanese business, unemployment rate
more...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
U.S. Treasury to Sell $74 Billion in Long-Term Debt Next Week
August 4th, 2010 by Financial Writer
The U.S. Treasury Department plans to sell $74 billion in its quarterly sales of long-term debt next week, as lower projected budget deficits allow the government to reduce borrowing at a “gradual pace.”
The Treasury is starting to scale back auction sizes, after expanding debt sales to finance annual budget deficits exceeding $1 trillion for the [...]
Tags: borrowers, economic growth, economic recovery, federal economic, financial, Global Economy, US Finance, us treasury
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
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