The yuan climbed to the strongest level since 1993 after President Barack Obama criticized China for not letting its currency strengthen.
China’s leaders haven’t done “everything they said would be done” to allow appreciation, Obama said at an hour-long town hall discussion in Washington. Yuan forwards gained for a fourth day as the dollar weakened against [...]
Posts Tagged ‘financial markets’
Yuan Climbs to Strongest Since 1993 After Obama Criticizes China Policies
September 20th, 2010 by Financial Writer
Tags: Chinese economy, currency market, economic growth, economy recovery, financial markets, financial system, japan's economy, us economy
more...GLOBAL MARKETS-Dollar, stocks rise on China import data
September 10th, 2010 by Financial Writer
The U.S. dollar rose on Friday after strong import data from China bolstered rising optimism about global growth, while stocks edged higher, buoyed by the economic outlook and a 3 percent gain in oil prices.
Chinese imports jumped in August, helping lift equity markets and commodity prices while diminishing the safe-haven appeal of the Japanese yen [...]
Tags: Dow Jones Industrial, economic growth, economists, economy activity, financial markets, financial system, us economic, us economy
Asia stocks gain on Japan, US economy indicators
September 9th, 2010 by Financial Writer
Most Asian markets gained Friday after Japan said its economy grew more than estimated and better U.S. jobs and trade figures eased fears that the world’s largest economy might slip back into recession.
Japan’s Nikkei 225 stock average was up 117.90 points, or 1.3 percent, at 9,216.29 after slipping back from the morning’s 2 percent rise. [...]
Tags: economic growth, economic indicators, economy, economy recovery, financial markets, financial system, Global Economy, investors, us economy
Treasuries Rise as European Bank Concern Encourages Demand for Safest Debt
September 7th, 2010 by Financial Writer
Treasuries gained, pushing 10-year note yields down from the highest level in almost a month, as renewed concern Europe’s sovereign-debt crisis will undermine the recovery spurred demand for relative safety.
The yield curve flattened for the first time in five days after the Wall Street Journal reported that European stress tests underestimated some banks’ holdings of [...]
Tags: economy activity, economy recovery, euro zone, european markets, financial crisis, financial markets, lenders, recovery economy, wall street
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
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
European stocks down, growth fears offset earnings
August 18th, 2010 by Financial Writer
European stock markets slipped Wednesday as stronger earnings from U.S. retailers Wal-Mart Stores Inc. and Home Depot Inc. failed to ease worries about slowing growth in China and elsewhere.
Investors also discounted a new round of deal making, after BHP Billiton’s hostile $38.5 billion all-cash takeover for Potash Corp. of Saskatchewan, which the Canadian company’s board [...]
Tags: Dow Jones Industrial, economic indicators, economy recovery, european economy, european stocks, financial markets, housing market, stock market, wall street
China Expands Access to Bond Market
August 17th, 2010 by Financial Writer
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 [...]
Tags: bank of china, Chinese economy, economists, financial markets, financial system, investment
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
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