The U.S. dollar turned higher on Friday, spurred off its early losses by a U.S. inflation report uptick.» Read More
For the week ending Friday, August 22, 2008, the U.S. major Indices fell for the week on the unknown future of mortgage giants Freddie Mac and Fannie Mae, downbeat home construction July data, and soaring producer prices. The NASDAQ Composite performed the worst for the week, declining 1.54%, its steepest decline since Independence Day week. However, Friday was a positive day for the markets helped by a welcome speech by Federal Reserve Chairman Ben Bernanke and a pull back in the price of crude. The Dow had three days of triple-digit point gains & losses, netting to finish almost flat for the week.
The U.S. dollar eased off a seven-month peak against the yen on Monday, halting an 11-day advance against a basket of currencies, as falling stocks and rebounding gold saw investors skim profits off a recent rally.
For the week ending Friday, August 15, 2008, U.S. major Indices finished mixed, after the markets digested negative results including a surge in CPI, a decline in retail sales, and continued expansion in unemployment claims. The Nasdaq Composite prevailed amongst the major U.S. indices, as it edged up 1.59% for the week, marking its fifth week of gains. Nasdaq gains were led by bullish comments on Amazon (AMZN) which gained 7.3% for the week. The likelihood of the eurozone moving toward recession allowed for a stronger dollar against the euro, continued pressure on oil, and a positive impact on U.S. stocks as a potential safe haven.
The U.S. dollar jumped to a six-month high against the euro Friday amid signs the U.S. economic slowdown may be bottoming while growth in the euro zone stalls.
The U.S. dollar rallied to an almost six-month high against the euro Thursday amid growing concern over euro zone economic weakness and accelerating inflation in the United States.
Stabilizing U.S. economic growth, falling oil prices and a deteriorating outlook outside the United States have led Goldman Sachs to abandon its ten-year bearish stance on the U.S. dollar.
The U.S. dollar edged lower against the euro on Wednesday after a spike in crude oil prices rekindled worries about the world's largest economy's growth outlook.
A rally in the U.S. dollar stalled and the currency was little changed against the euro Tuesday as some investors sold the greenback to lock in profits after it touched multi-month highs.
The dollar extended last week's rally and rose versus the euro on Monday as investors assessed how hard the slowdown blighting the U.S. economy would hit the rest of the world.
After introducing guest trader Zach Karabell, aka "The Academic," the gang immediately dives into the main lesson learned after stocks soar to end the week (the highest close since June). The dollar also "exploded," with its biggest jump in 8 years against the euro. "Currencies typically do not move like that," says Dylan of the USD's 3.3% gain this week. The S&P 500 also had its best week since April, due in part to the commodities pullback -- it ended the day up 2.4%.
The dollar soared Friday in what analysts are calling a game-changing move as concerns about the deteriorating euro zone economy gripped investors and commodities sold off.
For the week ending Friday, August 8, 2008, the U.S. markets ended the week on a positive note, cheered by a retreat in commodity prices, a Fed’s decision to keep rates steady at 2%, better-than-expected results in pending home sales, and a stronger dollar.
Oil closed at $15.20, dropping to a three-month low Friday as the dollar surged and concerns about global economic growth weighed on demand expectations.
Oil rose on Thursday on expectations a one million barrel per day pipeline that was attacked by Kurdish separatists in Turkey could remain shut for up to two weeks.
The dollar index rose to a 5-1/2-month high Thursday after a surprise rise in the U.S. pending home sales index for June.
With the economic slowdown weighing more on Europe, the ECB decided to hold its interest rates at a seven-year high of 4.25%. Here are some world interest rates as a point of comparison.
U.S. crude oil futures fell for a third day in a row on Wednesday as government data showed that crude oil stocks rose much more than expected last week.
The European Central Bank is widely expected to keep interest rate on hold Thursday, but is monetary policy really the most important thing for the future of the Euro-Zone economy?
The dollar extended gains and rose 1 percent versus the Japanese yen on Wednesday as crude prices declined further and U.S. stocks eased some of their losses.
The dollar trimmed gains against the euro and yen Tuesday after the Federal Reserve kept benchmark interest rates unchanged at 2 percent, as expected and said risks remain to U.S. economic growth.