TOKYO/ SYDNEY, July 23- The dollar held close to a six-week peak against a basket of currencies in Asian trade on Wednesday, as the euro edged down to touch a fresh 2014 low on the diverging interest rate outlook for the U.S. and euro zone.» Read More
President Bush said in an interview with the Wall Street Journal Thursday that he believes in a "strong dollar policy" and that a trade war with China is not in the US interest.
US home foreclosure filings decreased 8% in September from a 32-month peak in August, though they are still nearly double their year-ago levels, a report said on Thursday.
Euro zone growth turned out better than expected in the first quarter, making the second-quarter slowdown more pronounced, revised data showed on Thursday.
The Bank of Japan left its policy rate target unchanged at 0.50% on Thursday as expected, as it waits for more evidence that U.S. subprime woes will not threaten its scenario for modest growth in Japan.
South Korea's central bank held interest rates steady on Thursday, as expected, in the face of risk from turbulent global financial markets and despite data bolstering the case for further monetary tightening.
Australia's jobless rate fell to a fresh 33-year low of 4.2% in September, keeping alive speculation that interest rates would need to be raised again to cool the economy and restrain inflation.
The dollar fell Wednesday on speculation that the Federal Reserve may cut interest rates again this year, to prevent a weak housing sector from damaging the broader economy.
I rushed into work this morning, after massive flight delays getting back from Michigan last night, because I was eager to hear what the Treasury Secretary and our nation's top mortgage lenders had accomplished in the struggle to save thousands of cash-strapped mortgage borrowers.
The European stock indexes closed mixed Wednesday as declines in the price of oil dragged energy stocks into the red, matching losses in banking shares.
She's dressed former First Ladies Nancy Reagan and Jackie Kennedy and is a favorite of starlet Renee Zellweger, but designer Carolina Herrera says she would like to do a mass-market line, much like the one her friend Vera Wang recently created for Kohl's.
Federal Reserve officials Tuesday said the U.S. economic outlook is unclear, but credit market strains that led the central bank to cut interest rates sharply last month are easing, suggesting a follow-up rate cut is not a done deal.
Trade policy emerged as the hot-button issue among the nine Republican presidential hopefuls squaring off on Tuesday, but taxes, economic growth and the health of the American middle class also got their fair share of attention in the debate.
Demand for applications to purchase US homes and refinance existing mortgages rose last week, after total loan requests fell the prior two weeks, an industry trade group said on Wednesday.
US economists have chopped their forecasts for 2008 economic growth for a third straight month, saying the housing slump will be deeper and last longer than earlier expected, a survey released on Wednesday showed.
Singapore's central bank unexpectedly moved to keep inflation in check by tightening its monetary policy and allowing the Singapore dollar to rise, amid signs that it is worried over rising prices. Separately, the economy grew a seasonally adjusted rate of 6.4% in the third quarter.
All of the Fed's policy-setting committee agreed that a half-point cut in rates was needed to shield the economy from credit disruptions and the housing slowdown, minutes of the Sept. 18 meeting showed.
The dollar fell against the euro on Tuesday, after earlier hitting a two-week high, as traders stepped in to buy back the common currency at cheaper levels.
A sprinkling of deal news, sinking oil prices and a firmer dollar are in the background as stocks edge higher Tuesday. The big news for markets though will come in the Federal Reserve's meeting minutes, set for release at 2 p.m. ET. The minutes of the September 18 meeting and the August 16 call will be released. Traders are watching for hints of what made the Fed take the aggressive step to slash the Fed funds rate by a half point, greater than the 1/4 point widely expected.
Mr. Euro -- or the late Wim Duisenberg -- would sympathize with Jean-Claude Trichet’s dilemma. Trichet is facing a hostile cabal of politicians from among the 13 euro-zone governments who want him to cut interest rates to take momentum out of the strengthening single currency.
The Fed and the start of earnings season are two big focuses for stocks Tuesday, after Monday's dullish session. The Fed releases minutes of its September 18 meeting and its August 16 call at 2p ET. This time last week, traders would have been digging into those minutes to find any confirmation of their view that rates will be cut again at the Fed's October 31 meeting.