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Dollar hits record low against euro
2007-10-18 16:34:00 The dollar hit a record low against the euro on Thursday as expectations of further cuts in US interest rates continued to weigh on the currency. The dollar dropped 0.7 per cent to $1.4305 against the euro, surpassing the previous all-time trough at $1.4281 it hit against the single currency three weeks ago. Analysts said a recent ... More About: Euro , Daily News , Dollar , Hits , Record
G7 Meeting to Cause Extensive Yen Volatility, How Can we Trade it?
2007-10-18 16:21:00 Currency trading markets are likely to see extensive volatility in the week ahead, as forex speculators are largely unsure of what to expect from the weekend’s G7 summit in Washington DC. The event has historically forced extensive moves in the Japanese Yen and other major currencies, and this particular meeting should be no exception. Indeed, ... More About: Trade , Meeting
Carry Trades Reverse Despite Strong Afterhours Earnings From Intel, Yahoo
2007-10-17 10:22:00 Some traders entered into carry trades after the U.S. close, selling the JPY on the assumption that Asian stock markets will remain supported by strong after-hours results from Intel and Yahoo . The JPY weakened during the first 3hrs of the Asian session, but then strengthened as Asian stock markets traded sharply lower, with the Nikkei ... More About: Daily News , Earnings , Strong
Paulson warns of damage to come
2007-10-17 09:52:00 Hank Paulson, the US Treasury Secretary, warned on Tuesday that the downturn in the nation?s mortgage market would burden the economy ?for some time? as several big banks, the largest homebuilder and a major construction equipment maker all highlighted the growing impact of the housing decline. Mr Paulson?s grim remarks came as James Owens, CEO of ... More About: Damage Warning: preg_replace() [function.preg-replace]: Compilation failed: nothing to repeat at offset 0 in /home/blogtop/public_html/blogdetails.php on line 143
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Unemployment Increase Would Increase Pressure For UK Rate Cut
2007-10-17 01:33:00 The latest UK earnings and unemployment data will be released on Wednesday at the same time as the October MPC minutes. The Bank of England remains sensitive to earnings data given its impact on inflationary pressure. The bank has been concerned over a tight labour market during the past year and is therefore still watching ... More About: Unemployment , Rate
Oil on a tear
2007-10-17 01:19:00 Somehow, it’s difficult to picture hedge fund managers standing around their desks poring over maps of northern Iraq. If they were, Nymex crude oil would surely not be trading around $88 a barrel, another all-time record in nominal terms.Say Turkey does invade Kurdish northern Iraq. Only a trickle of oil flows through the main pipeline ... More About: Tear
Market update
2007-10-16 15:40:00 How linked are the markets? US equity markets declined yesterday after the Citigroup earnings announcement heightened concerns that the subprime mess is not gone yet and oil over $86. Immediately, bonds rally and the currency markets avert from risk by selling yen carry. Today, more of the same after Nomura announced it took a hit ... More About: Market , Daily News , Update
The Lessons of Black Monday
2007-10-15 20:08:00 two articles i enjoyed reading from the WSJ on the 20th anniversary of Black Monday 87 Looking Back, Persistence Is the Lesson: October gives some investors the jitters. Twenty years ago, the Dow Jones Industrial Average suffered its largest one-day percentage decline, losing 22.6%. Some terrified investors dumped stocks. The reality, in hindsight: There hasn’t since been a better ... More About: Lessons
Euro above $1.40
2007-10-15 19:13:00 As children playing in fountains know, if you block one hole, the water spurts harder out of the others. The same seems to be happening in currency markets. Everybody, it seems, wants to bet the dollar will fall, but the options for doing so are limited. Despite having the biggest absolute trade imbalance with the ... More About: Euro
Bail-out plans weigh on yen
2007-10-15 18:30:00 The yen fell to a two-month low against the dollar on Monday amid reports that three major US banks were planning a fund to buy mortgage-linked securities in an attempt to limit damage from the recent turmoil in the credit markets. Analysts said the yen, which has been widely sold to fund the purchase of risky ... More About: Plans , Weigh
Oil hits fresh record above $85
2007-10-15 18:27:00 Oil prices rose to fresh record highs on Monday, with US crude rising above $85 a barrel, supported by tensions between Turkey and Iraq and tight inventories ahead of the northern winter. Nymex November West Texas Intermediate hit a record of $85.19 a barrel and later traded $1.10 to $84.80 a barrel. ICE November Brent rose ... More About: Hits , Fresh , Record , Cord
Market update
2007-10-15 18:25:00 After Citigroup Inc. announce Q3 earnings fell 57% and the ECB’s Trichet stated that economic scenario is unchanged by recent market turbulence , the greenback is lower against most major currencies. The US dollar index is down .21 at 78.01. GBP overnight Libor remains at 5.85% and the 3mth period rate is up small at ... More About: Market , Update
Yuan, Rupee Rise at Record Pace in Fight on Inflation
2007-10-15 12:47:00 Asian currencies from the Indian rupee to the Chinese yuan are rising at a record pace as central banks turn to the foreign-exchange markets for help in fighting inflation. The rupee’s 12 percent gain this year is its biggest since at least 1974 and surpassed the predictions of all 26 economists surveyed by Bloomberg News at ... More About: Inflation , Fight , Rupee , Pace , Record
Markets on alert for G7 shift on currency
2007-10-15 11:06:00 Currencies and the regulatory response to the credit crisis will top the agenda when world finance ministers, central bank governors and private sector bank executives meet this week in Washington for the Group of Seven summit and the annual meetings of the International Monetary Fund and the World Bank. Foreign exchange markets in particular are on ... More About: Daily News , Markets , Currency , Alert , Shift
N.Z. Inflation Slows, Stemming Need for Higher Rates
2007-10-15 02:17:00 New Zealand’s inflation rate slowed more than the central bank predicted in the third quarter, adding to signs that interest rates needn’t rise any further. New Zealand’s dollar fell after Statistics New Zealand released a report in Wellington today showing consumer prices rose 0.5 percent from the second quarter. The median estimate of 13 economists surveyed ... More About: Daily News , Inflation , Bloomberg , Higher , Rates
Lessons from credit crisis
2007-10-13 15:22:00 When the US sneezes, the world catches cold. At least that used to be the old saw. But these days, the US economy is feeling poorly, with the so-called sub-prime credit crunch and weakening dollar. But the local UAE economy doesn’t even have the sniffles. Of course, the US is still a major factor globally ... More About: Credit , Lessons , Crisis , Cris
Market Update
2007-10-12 22:31:00 I wonder what the carbon offset in Tennessee is for the Nobel Peace Prize? After US economic data showed the demise of the US consumer was greatly exaggerated, the buck briefly rallied against all the major currencies. September US retail sales jumped 0.6% vs exp. 0.2%. Oops, that rally’s over. Our Jennifer Lee writes, “U.S. consumers ... More About: Market , Daily News , Update
Oman inflation hits 16-year high
2007-10-11 21:51:00 Annual inflation in Oman accelerated to 6.47% in August, the highest in 16 year, as food costs and rents jumped. Oman, like other Gulf Arab oil producers, is struggling to contain inflation because its central bank traditionally follows US interest rate policy to maintain the relative value of its dollar-pegged currency. The government considered measures ... More About: Inflation , High , Hits , Year
USDJPY, Potential Trouble Ahead
2007-10-11 20:51:00 The preferred view in $/yen remains unchanged as trade from the Aug 17th low at 111.65 is seen as a large correction, and suggesting an eventual decline back to the 111.65 low and even below after its completion (no signs yet). Note too the series of smaller 3 wave moves since Aug which is generally ... More About: Tent , Ahead
Why Saudi Arabia is right not to revalue
2007-10-11 20:34:00 Saudi Arab ia has been wise not to revalue. Most of those calling for a revaluation of the riyal are unfamiliar with the kingdom’s political economy. They have argued that its huge money supply, which has been growing at more than 20 per cent year on year, coupled with rising inflation (above 4 per cent) and ... More About: Saudi , Saudi Arabia
Weaker Dollar Helps Shrink Trade Gap
2007-10-11 19:46:00 The U.S. trade deficit narrowed more than forecast in August as the falling dollar stimulated record foreign demand for American products from wheat to electric generators. The $57.6 billion trade gap was the smallest since January, the Commerce Department said in Washington. The surge in exports may also be helping prop up the U.S. job ... More About: Dollar , Trade , Doll
Euro area bank lending standards are tightening
2007-10-11 19:20:00 ? Bank s face significant pressures from funding needs, revaluation of assets, and balance sheet expansion ? Reduced credit supply to reinforce moderation of credit demand It now looks likely that the stress in Euro area money and credit markets will continue for a while, as the increase in liquidity preference on the part of banks and other ... More About: Standards , Euro area , Area
Market Update
2007-10-11 18:30:00 After both the Bank of Japan and the Bank of Korea kept interest rates unchanged, the buck continues to lose ground to all the major currencies except the Japanese yen. The US dollar index is down .20 at 78.17. The Canadian dollar has put in fresh highs against the buck at .9750. Go Canada! Maybe at some point their prices will be ... More About: Market , Daily News , Update
Busch?s Market Update
2007-10-10 15:45:00 After a Bank of England official talked tough on rates and the FOMC was unanimous in aggressively cutting rates, the buck is losing value against most major currencies. The US dollar index is down .13 at 78.39. GBP overnight Libor rose to 5.85875 from 5.8575% and the 3mth period rate is up to 6.26563% from 6.245%. The Euro overnight libor eased to 3.9425% from 4.02% and 3mth fell to 4.7425 from 4.74563%. Overnight US ... More About: Market , Update , Busch
Fed Signals No Rush to Reduce Rates Again as Economy Expands
2007-10-10 07:04:00 Federal Reserve policy makers signaled they are in no hurry to reduce interest rates again because they aren’t convinced the U.S. economic expansion is coming to an end. The Federal Open Market Committee avoided foreshadowing its next move after lowering the benchmark rate on Sept. 18, minutes of the meeting, published yesterday, showed. Officials didn’t want ... More About: Economy , Bloomberg , Federal Reserve , Reduce , Rush
Busch?s Market Update
More articles from this author:2007-10-09 14:51:00 The greenback is trading in mixed ranges versus most of the major currencies with the South African Rand and the Norwegian Kroner losing the most value. The US dollar index is up .17 at 78.83. GBP overnight Libor rose to 5.8575% from 5.85% and the 3mth period rate is up to 6.245% from 6.24%. The Euro overnight libor rose to 4.02% from 3.705% and 3mth fell to 4.74563% from 4.76%. Overnight US libor rose to 4.84875% ... More About: Market , Update , Busch 1, 2, 3, 4, 5, 6, 7 |
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