* 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 [...]
Archive for the ‘US Finance’ Category
FOREX-Yen nears 15-year peak versus dollar; euro rises
August 31st, 2010 by Financial Writer
Tags: bank of japan, currency market, Federal Reserve, financial, investors, wells fargo
more...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
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
Hoenig: Big banks may still threaten their smaller rivals
August 23rd, 2010 by Financial Writer
Despite Dodd-Frank Act, community banks face ‘higher costs of capital’: Hoenig
Over 6,500 U.S. community banks may continue to face “higher costs of capital” than their big bank rivals even after a sweeping bank reform law has sought to end the ‘too-big-to-fail’ perception, Federal Reserve Bank of Kansas City President Thomas Hoenig said Monday.
“Because the market [...]
Tags: banking sector, big banks, Capital economics, Federal Reserve, financial institutions, investors, recession, taxpayers
Eight Banks Fail in Four States
August 22nd, 2010 by Financial Writer
Eight banks were shuttered by regulators Friday, bringing the 2010 tally of U.S. bank failures to 118.
Six of the eight failed banks were included in TheStreet’sBank Watch List of undercapitalized institutions, based on second-quarter regulatory data provided by SNL Financial.
The Federal Deposit Insurance Corp. found buyers for the deposits and branches for all of the [...]
Tags: bank of america, Bankruptcy News, banks, business, financial markets, financial system, wall street
Euro Drops Five-Week Low Versus Dollar as Weber Cites ECB Liquidity Plan
August 20th, 2010 by Financial Writer
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 [...]
Tags: businesses, economic growth, economists, economy recovery, european central bank, financial, global economic, home sales, us economy
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