World leaders have wrapped up a G-7 summit in Germany, with a stronger stance on climate change, among a wide range of issues. CNBC's Carolin Roth reports.» Read More
Many strategists and analysts do not expect much to come from the G-7 meetings, underway in Washington tomorrow, but nonetheless markets, desperate for progress, are rife with rumors that something will happen.
GE and the G7 -- two big stories for the markets Friday with the dollar as a common theme. First, General Electric releases earnings before the open.
Japan wants the Group of Seven rich nations to show a clear determination to ensure financial system stability as global markets remain turbulent, Bank of Japan Governor Masaaki Shirakawa said on Thursday.
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World Bank President Robert Zoellick on Sunday won support from bank member countries for his strategy to lead the poverty-fighting institution for the next five years, including plans to give the private sector a bigger role in poor countries.
Some G7 meetings have come and gone entirely under the radar, but this weekend's meeting of the Group of Seven's (G7) finance ministers is getting lots of attention because of recent market turmoil and the weakening dollar.
The major European indexes closed in the red Friday as fresh record highs in the price of oil and a soaring euro versus the dollar gave rise to economic concerns. Banking stocks were among the worst performers, with the Dow Jones STOXX banking index down 1 percent.
The dollar rose to a fresh 4-1/2-year high against the yen for a second straight day ahead of a Bank of Japan policy meeting and a report on U.S. consumer inflation that could determine whether U.S. Treasury yields extend a six-week climb.
The dollar climbed to a 4-1/2-year high against the yen, helped by data indicating U.S. retail sales growth in May was the highest since January 2006 which many investors took as a sign of a pickup in U.S. economic growth.
China's yuan jumped against the dollar in early trade on Wednesday to its highest since its 2005 revaluation after the central bank set a much higher reference rate for the Chinese currency.
The dollar climbed against the euro Tuesday to two-month highs as rising U.S. Treasury yields lured investors.
The dollar rose to 3-1/2-month highs against the Swiss franc on climbing U.S. Treasury yields, while investors for the moment brushed aside implications of the Reserve Bank of New Zealand's first market intervention in 22 years.
The dollar rose broadly to a two-month high on Friday as surging U.S. Treasury yields widened their advantage over other major government bonds and amid sharply reduced expectations for interest rate cuts by the Federal Reserve.
The dollar strengthened broadly as a rise in U.S. Treasury yields above 5% boosted demand for the U.S. currency, while news that North Korea fired short-range missiles off its coast hurt the yen.
The Australian dollar rose to a fresh 17-year high on Thursday after the second straight month of stronger-than-expected domestic jobs data fuelled concerns the central bank might increase interest rates in the near term.
Fading prospects of a rate cut by the Fed and no signs from the European Central Bank that it would continue to tighten monetary policy beyond 2007 lifted the dollar against the euro.
The dollar fell against the euro and yen on Tuesday, dipping below key technical levels after Federal Reserve Chairman Ben Bernanke said the ailing U.S. housing sector may remain a drag on economic growth.
The dollar declined broadly as the U.S. currency failed to extend gains after last week's robust jobs data, while demand for currencies linked to rising interest rates strengthened.
The dollar rose to a seven-week high against the euro, on track for a fifth consecutive week of gains, as strong U.S. jobs and manufacturing data damped expectations of a Federal Reserve interest rate cut this year.
The dollar touched a three-month peak against the yen after a strong report on business activity in the U.S. Midwest, but it failed to sustain gains before key payrolls data due on Friday.