The U.S. dollar climbed on Wednesday as investors awaited the Federal Reserve's latest guidance on U.S. interest rates.» Read More
European shares are expected to edge higher on Friday, following a mostly upbeat session in Asia but gains will likely be tempered as investors wait for U.S. markets to reopen after a public holiday.
The dollar hit new record lows against the euro, the Swiss franc and a basket of currencies on Thursday on growing belief that the U.S. Federal Reserve will cut interest rates again next month.
The strength of the euro, at a record high versus the dollar, is becoming a problem for Europe's exporters, the president of the European Commission said on Thursday.
French President Nicolas Sarkozy will in a forthcoming visit to China call for an "equitable and fair" relationship between four major currencies -- the dollar, euro, yen and yuan, a senior French official said on Thursday.
German economic growth rebounded in the third quarter, buoyed by domestic demand, but the pace of expansion is probably slowing already as surging oil prices and the strong euro put firms on the defensive.
A rocking and rolling stock market, the U.S. dollar at record lows, and oil at record highs is setting the stage for an unusually, volatile Thanksgiving Eve in the markets.
The shrinking dollar skidded to a new low against the euro overnight though its off its lows as markets await the release of Fed minutes and its forecast later today. In the stock market, a spirited rally started to run out of steam by midday.
The dollar slid to a record low versus the euro after minutes of the Federal Reserve's October meeting failed to give a clear indication on the central bank's next move on rates.
The dollar fell against the yen but held steady versus the euro Monday as global stock losses and high oil prices stoked uncertainty about the health of the U.S. economy and left investors wary of risky trades.
OPEC countries are unlikely to ditch the ailing dollar for pricing oil exports in the short-term, analysts said on Monday, despite proposals from Iran and Venezuela to consider alternatives.
An OPEC summit ended on Sunday in sharp political division over whether to take action over the weak dollar, as heads of state vowed to keep providing Western consumers with an "adequate" supply of oil.
China's central bank chief said on Sunday it could consider a wider trading band for the yuan currency after finance chiefs from the Group of 20 economic powers renewed calls for greater currency flexibility.
OPEC states agreed their finance ministers would meet before Dec. 5 to discuss the sliding dollar's impact on their economies after Iran and Venezuela recommended pricing oil against a currency basket.
The dollar slipped on Friday, but was still on track for its biggest weekly gain in a month, with dealers wary of adding much to extended bets against the greenback with so much uncertainty surrounding the credit market.
Chinese lunchtime television on Friday gave ordinary people a basic tip on how to play the currency markets: sell the dollar!
The euro zone's unadjusted trade surplus rose in September despite the single currency's steady climb as annual export growth still outpaced imports despite a sharp slowdown from August, data showed on Friday.
Italian super car maker Lamborghini is on track for record sales in 2007 and sees no threat from a stronger euro or a downturn in the U.S. economy, the company's chief executive said on Thursday.
Wall Street has little to look for in terms of economic data Friday, but there could be spillover from Thursday's scaredy-cat markets.
The dollar rose against the euro but slipped against the yen Thursday as fears about the credit crunch's impact and falling equity markets led investors to pare back on profitable but extended trades.
Stocks will be challenged Thursday to shake off the crankiness that gripped the market late in Wednesday's session. Inflation data, a light flow of earnings and some regional economic surveys are on the calendar.