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The dollar weakened Friday, after dealers decided a relatively solid U.S. employment report was not enough to move the U.S. economy off a slowing path and keep the Federal Reserve from possibly cutting interest rates.
The Labor Department's jobs number tracks people in the work force, but it doesn't account for millions of workers classified as independent contractors. Now, a battle is brewing over whether contractors like Gupertino Magana are getting a fair deal.
The prepared speech given by Federal Reserve Vice Chairman Donald Kohn on the economic outlook. The speech took place in Philadelphia on October 5, 2007.
The euro headed higher against the U.S. dollar Thursday, after orders to U.S. factories fell by their biggest amount in seven months and the European Central Bank agreed to keep interest rates steady at 4 percent.
Friday's U.S. employment report is expected to show sizable job growth for September, emboldening investors. But that won't end the debate about a possible recession.
With the Dow Jones Industrial Average hovering around 14,000, the question is where the blue-chip heads next: 13,000 or 15,000?
The dollar rose to a 1-month high against the yen on Wednesday, after a report on the U.S. services sector in September reflected growth in employment, boding well for Friday's non-farm payrolls data.
The U.S. private sector increased hiring at a moderate pace for a third straigth month in September, according to the ADP employment report released Wednesday.
The dollar rose Tuesday from record lows hit during the prior session as investors trimmed overstretched bets against the U.S. currency ahead of key economic data later this week.
The dollar rose slightly from record lows against the euro Monday as investors cashed out bets against the U.S. currency ahead of a fresh batch of economic data and central bank meetings this week.
The dollar hit another new low Friday, as U.S. inflation data reinforced expectations that the Federal Reserve may cut interest rates again.
Recession talk is heating up as the slumping U.S. housing market threatens to shackle free-spending consumers, yet stocks remain near record highs, indicating that many investors see little cause for alarm.
Atlanta Federal Reserve Bank President Dennis Lockhart said on Friday that market turmoil could hit the U.S. economy and that a moderation in inflation gave the Fed room to cut interest rates last week.
The U.S. Senate Thursday passed and sent to President Bush a temporary spending measure to keep the federal government running through Nov. 16, giving Democrats and Republicans time to work out budget disagreements.
Tight central bank monetary policies and well-grounded expectations of low inflation are to thank for low inflation in recent years, not globalization, Federal Reserve Governor Frederic Mishkin said on Thursday.
The dollar fell to record lows Thursday, hit by fresh evidence that a weak housing market could crimp U.S. growth and force the Federal Reserve to cut interest rates again.
The dollar rebounded from record lows against the euro Wednesday, brushing aside a steeper-than-expected fall in August durable goods orders as buyers took advantage of cheap exchange rates.
New orders for costly U.S.-manufactured goods dropped at the sharpest rate in seven months during August as demand fell across nearly every major category.
The dollar hit a new record low against the euro Tuesday as a surprise plunge in U.S. consumer confidence to nearly two-year lows raised expectations of another Federal Reserve interest rate cut next month.
High energy prices, the housing slump and worries about a recession may not have as much impact on holiday sales.