Gold slipped below $1,220 an ounce in Europe on Wednesday as investors cashed in some of the previous session’s gains, but investment demand for the metal as a haven from risk is expected to continue to underpin prices.
The dollar strengthened and equity markets slipped as persistent fears the euro zone’s debt crisis could hamper the [...]
Posts Tagged ‘euro zone’
Gold slips below $1,220 but investment supports
June 2nd, 2010 by Financial Writer
Tags: business, debt crisis, economic recovery, euro zone, european economy, european union, financial markets, Global Economy, IMF, investors, us economy
more...Manufacturing in U.S. Expands Faster Than Forecast
June 1st, 2010 by Financial Writer
Manufacturing in the U.S. expanded in May for a 10th month as factories boosted payrolls to keep up with rising sales here and abroad.
The Institute for Supply Management’s manufacturing gauge fell less than forecast to 59.7 from 60.4 in April, which was the highest level in almost six years. Readings greater than 50 point to [...]
Tags: consumer spending, debt crisis, economic recovery, euro zone, european economy, financial, inventory, stock market, us consumer, us economy, us exporters, us manufactured
Euro inches up while stocks remain flat after warning
May 31st, 2010 by Financial Writer
The euro steadied from recent falls and world stocks were becalmed on Monday with a Chinese warning about risks to global growth and a downgrade of Spain’s credit heightening investor caution in holiday-thinned trade.
Europe’s common currency inched up, recovering modest losses suffered after a cut to Spain’s sovereign debt rating late on Friday, but the [...]
Tags: debt crisis, euro zone, european economy, Global Economy, investors, stock market, us economy, wall street
Personal Spending Report Tempers U.S. Indexes
May 28th, 2010 by Financial Writer
American indexes opened lower on Friday, the last day of the month and the last before a three-day weekend.
In the United States, a mixed report on consumer spending and personal income tempered the open.
The Commerce Department reported that consumer spending was unchanged in April while personal incomes rose 0.4 percent. Both numbers were less than [...]
Tags: businesses, consumers, Dow Jones Industrial, economic recovery, euro zone, european stocks, financial markets, Global Economy, investors, stock market, U.S. markets, us economic, wall street
Europe’s Banks Hit by Rising Loan Costs
May 25th, 2010 by Financial Writer
European banks are being forced to pay more for short-term dollar borrowings than banks in the U.S. and Asia—suggesting that lenders world-wide are increasingly nervous about the risks ahead for European banks as financial pain cascades across the continent.
On Monday, the London interbank offered rate, or Libor—the rate at which banks lend money to each [...]
Tags: borrowers, economic recovery, euro zone, european economy, financial, financial crisis, Global Economy, investors, real estate, stock market, us economy
Oil rises above $70, pessimism lingers
May 24th, 2010 by Financial Writer
U.S. crude rose above $70 a barrel on Monday, recouping some of last week’s losses, but analysts said sentiment remained fragile and prices could again be hit by macroeconomic pessimism.
The euro fell broadly on Monday, pulling back from gains last week, after the Spanish central bank’s takeover of a savings bank added to jitters about [...]
Tags: consumers, debt crisis, economy, euro zone, financial, global market, stock market, us economy, wall street
Global stocks tumble and bunds firm on euro zone fears
May 21st, 2010 by Financial Writer
European stocks fell again on Friday despite German approval of a euro zone rescue package, as markets remained unconvinced the aid would resolve the debt crisis.
The euro, however, found support from short covering.
Wall Street was also set to open lower, after plunging nearly 4 percent in the previous session.
In the general flight to safety bund [...]
Tags: debt crisis, economy, economy recovery, euro zone, financial crisis, financial stocks, financial system, Global Economy, Global Financial, us economy, US Treasuries
Euro touches four-year low against dollar
May 17th, 2010 by Financial Writer
The euro has pulled back from a four-year low against the dollar, although fears over the strength of the eurozone economy remain.
The euro fell to $1.2237 in early trade on Monday, but then recovered to trade at $1.2377.
Traders fear that the austerity measures being put in place in many eurozone countries will hit growth.
Elsewhere on [...]
Tags: business, economic recovery, euro zone, european economy, european union, financial, financial crisis, financial markets, financial system, Global Economy, IMF, interest rates, us economy
Euro crisis: only root-and-branch financial reform can tame the wolf pack
May 15th, 2010 by Financial Writer
Dan Roberts argues that it may be satisfying to turn fire back on the financiers – but indebted countries have never needed them more.
In times of crisis, the complex world of international finance clings to a very old-fashioned store of wealth for reassurance: gold.
The price of this precious metal shot up during the great banking [...]
Tags: banks, economic recovery, euro zone, european central bank, financial, financial markets, financial reform, Global Financial, IMF, investors, recovery economy, stock market
Gold Prices Extend Climb
May 12th, 2010 by Financial Writer
NEW YORK—Gold futures remained in record territory as a safe haven and currency hedge amid worries on the long-term efficacy of the euro-zone bailout package.
Most actively traded gold, for June delivery, in recent activity was up $16.10, or 1.3%, at $1,236.40 an ounce on the Comex division of the New York Mercantile Exchange. In electronic [...]
Tags: banks, euro zone, european central bank, european union, financial, financial markets, financial system, Global Economy, IMF, interest rates, investors, stock market, us economy