The euro rallied on Friday ahead of an official report on the health of the euro zone's main banks as investors covered short-positions.» Read More
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.
The dollar fell against the euro on Wednesday as continued worries that a struggling U.S. housing sector and lingering credit problems weighed on sentiment and left intact a long-term declining trend.
Inflation and retail sales data, plus a speech from Fed Chairman Ben Bernanke are the big before-the-bell events that could sway market direction Wednesday.
Euro zone growth rebounded more strongly than expected in the third quarter thanks to its three biggest economies, data showed, but economists said a looming slowdown would help keep ECB interest rates on hold.
Many Americans are opting for French foie gras instead of a traditional Turkey drumstick this Thanksgiving holiday, even if the dollar doesn't go as far in Europe these days.
The dollar slipped against most currencies Tuesday, resuming a long-term decline after a brief respite on Monday as investors expected further signs of housing weakness and sluggish consumer spending that could hurt U.S. growth.
Origination of European securitisations will probably slow for the full year versus 2006, the first time this has happened since 2000, as credit market turmoil bites, the European Securitisation Forum said on Tuesday.
German investor morale worsened in November to its weakest since February 1993, weighed down by worries about financial market turmoil and the impact of the strong euro, a closely watched survey showed on Tuesday.
Guarded optimism poured into the stocks of two major retailers Monday, lifting them ahead of earnings reports that could impact Tuesday's trading day. Other stories to watch Tuesday include the big Merrill Lynch financial services conference, energy options expirations, pending home sales data and the NFIB small business survey. Currency and commodities are markets to watch.
Financial stocks today mirror the schizo nature of the stock market. There are a few big winners, and some really big losers. Speculation of a breakup of Citigroup is driving that stock higher and is drawing money into the financial sector.
Why is a dollar worth more today against the euro than it was last week? Does it have anything to do with the fundamentals of the US economy?
The dollar rose against the euro on Monday, as the European currency backed off all-time highs set last week.
The euro has not risen to an uncomfortably high level and the dollar is still overvalued, particularly against Asian currencies, Michael Deppler, head of the IMF's European Department, told Reuters on Monday.
The dollar fell to one-and-a-half-year lows versus the yen Friday, as fears of wider credit-related losses at U.S. financial institutions had investors dumping risky assets and anticipating more Federal Reserve rate cuts.
Bank of England and European Central Bank both left rates unchanged which helped spark a modest rally in Europe and here. Mr. Trichet, head of the ECB, talked about inflation concerns but his inaction made him appear rather dovish.
The European Central Bank left rates unchanged as expected on Thursday, with analysts saying the doves in the governing council had the upper hand. The Bank of England also left the rates on hold, with analysts expecting it to ease monetary policy early next year.
This year's relentless U.S. dollar slide looked to be turning into a rout on Wednesday, one that could heap more pressure on already stressed world markets and require a verbal or active protest by the world's central banks.