The U.S. dollar turned higher on Friday, spurred off its early losses by a U.S. inflation report uptick.» Read More
South Korean foreign exchange reserves fell by a record amount in July, central bank data showed on Monday, as dealers reported the authorities have sold about $15 billion during the month to prop up the won.
For the week ending Friday, August 1, 2008, the markets finished relatively flat after a turbulent week that saw 4 straight days of triple-digit moves on the Dow. An early rally was dampened by weak economic data including weaker-than-expected GDP numbers and a rise in the unemployment rate.
Oil prices settled slightly higher Friday, clawing back above $125 a barrel after Israel raised new concerns about Iran's nuclear program. But more concerns that high prices are eating into demand limited the gains.
The dollar first extended and then trimmed gains versus the euro Friday after a report showed manufacturing activity in the U.S. was better than expected in July.
Oil prices ended lower Thursday, pulling back from the previous day's rally, as disappointing data on the U.S. economy signaled further cutbacks in energy demand for the world's thirstiest consumer.
The dollar fell Thursday as news of a surprise jump in U.S. weekly jobless claims and below-forecast economic growth in the second quarter reduced prospects for Federal Reserve interest rate hikes this year.
Euro zone inflation jumped to another record high of 4.1 percent year-on-year in July as forecast, data showed on Thursday, but a bleak economic outlook may discourage interest rate increases this year.
Oil prices shot up as much as $5 a barrel, halting a dramatic two-week slide, after the US government reported a surprise drop in gasoline supplies.
The dollar rose broadly Wednesday as a report showing that U.S. private sector unexpectedly added jobs in July raised prospects of an improvement in non-farm payrolls data Friday.
Oil fell to its lowest level in nearly three months, extending a steep slide since mid-July on mounting evidence high prices and a souring economy were cutting into world energy demand.
The dollar surged to a one-month high on Tuesday as a sharp drop in crude oil prices and an unexpected rise in U.S. consumer confidence in July buoyed demand for riskier assets and sparked a rally on Wall Street.
Oil prices rose Monday, approaching $125 a barrel after militants sabotaged two oil pipelines in Nigeria and Iran claimed that it had doubled the size of its nuclear program but signaled a willingness to work with the U.S.
The dollar eased Monday as persistent worries over the financial sector cast a pall over the health of the U.S. economy despite last week's upbeat housing and consumer sentiment data.
World oil prices are overvalued and "not realistic" because the market is being manipulated, Iran's President Mahmoud Ahmadinejad said in an exclusive interview with NBC.
There could be some potential downside to the euro-dollar cross, ahead of the U.S. non-farm payrolls on Friday, forecasts Sean Callow, senior currency strategist at Westpac Bank. CNBC's Martin Soong & Amanda Drury find out more.
For the week ending Friday, July 25, 2008, the markets closed mixed for the week, on negative housing data, and mixed earnings results. An early rally in financial and airlines stocks, supported by the continued slide in oil prices, was quickly wiped away by ongoing uncertainty in the economy. The Dow dropped more than 280 points on Thursday, marking the worst one day point drop in over a month. However, Friday saw a slight rebound on strong durable goods and a bounce back in consumer sentiment. Only the Nasdaq finished slightly up 1.2% for the week. The Dow and S&P finished down 1.09% and 0.23%, respectively.
The U.S. dollar rose against the Japanese yen on Friday, after a trio of better-than-expected data injected a dose of optimism aboutthe U.S. economy.
Oil dropped $2 to a fresh seven-week low on Friday, extending a decline that has knocked more than $23 off crude in two weeks as high fuel prices continue to batter demand.
Oil prices rebounded from a seven-week low Thursday in what traders said was technical trading and a short covering bounce after recent declines left the market oversold
The dollar dropped against the yen Thursday, dragged down by disappointing news in the U.S. housing sector and steep losses on Wall Street.