Mitul Kotecha, Head of FX Strategy, Asia Pacific at Barclays, says European inflation data due this week won't be weak enough to prompt more stimulus.» Read More
The culprit is fears of inflation, thanks to high gasoline prices. But even more troubling is the chance that the Fed will raise interest rates, which don’t correlate exactly to the 30-year fixed, but which will push up rates on some adjustable-rate mortgages and home equity lines of credit.
With gas prices at record highs across the country, some employers are implementing measures to help their employees ease the cost of driving to work.
Two Federal Reserve policy-makers warned on Wednesday that interest rate increases might be needed before too long to curb inflation, even as the United States struggles with a weak economy.
The dollar rose broadly after a report showed new orders for U.S. durable goods fell by less than expected in April, supporting the view the Federal Reserve may keep interest rates on hold or even raise them by the end of the year.
A rise in fees has led to growing dissatisfaction with retail banks, which may be sacrificing long term growth in favor of short-term gains, J.D. Power and Associates said in a study.
The US economy is likely to weaken even further next year, but inflation is mainly contained to oil and other commodities, Merrill Lynch economist David Rosenberg told CNBC.
European planemaker Airbus is starting to feel the pain of the high price of oil and is bracing for airline customers to delay and even cancel orders, its chief salesman said on Wednesday.
The dollar rose broadly Tuesday after oil prices fell and a report showed an unexpected rise in U.S. new home sales in April, boosting expectations the economic slowdown is not as bad as feared.
There are several signs that the financial crisis that has long plagued the market is winding down, according to one expert.
The chief executive of Europe's biggest lender on Tuesday called on central bankers to raise interest rates in order to combat inflation.
The government will ban people in foreign-registered vehicles from buying gasoline in border areas of Malaysia, where heavy subsidies have kept petroleum costs low despite soaring prices internationally.
Monetary policy should aim to help China recover from this month's devastating earthquake but it must also continue to fight inflation, central bank chief Zhou Xiaochuan said.
Former Federal Reserve chairman Alan Greenspan was quoted on Tuesday as saying the United States was still more likely than not to have a recession despite relative stabilization in the economy in recent weeks.
"This is going to be another difficult spring," said Mark Zandi of Moody's Economy.com. "I think we are at the beginning of the end of the housing downturn, but it is going to be a long and painful end."
European Central Bank head Jean-Claude Trichet said on Monday that financial markets were experiencing an "ongoing correction" and repeated that the G7 was concerned about excessive dollar volatility.
China's consumer inflation is expected to reach 7% in 2008, up from 4.8% last year, a government economist said in comments published on Monday
The dollar held its ground on Monday, taking advantage of the ultra-thin volumes owing to U.S. and UK market holidays to arrest its decline of the last three weeks and eke out slender gains against a basket of major currencies.
Blame for the sub-prime crisis lies at the feet of banks who took too many risks in mortgage lending, Warren Buffett told a Madrid newspaper. Earlier, the billionaire investor said he expected a "long, deep" recession.
The dollar fell on Friday and was set for its steepest weekly slide against a basket of major currencies in two months, as record high oil prices left the U.S. economy vulnerable to slower growth and rising inflation.
Kimberly-Clark, marker of Kleenex tissues, Huggies diapers and a host of other consumer products, said Friday it would raise prices by 6 percent to 8 percent in the third quarter to offset higher raw material and energy costs.