The euro dipped, buffetted by a flurry of reports on new concessions made by Greece to its European creditors.» Read More
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.
Watch out world, the U.S. is on the march. No, not like that. We’re talking the good ol’ American greenback.
Oil prices fell $4 to a six-week low after a U.S. report reinforced concerns high prices and economic turmoil were slashing demand.
The dollar hit a one-month peak against the yen and a two-week high against the euro Wednesday, getting support from a slide in oil prices and a recovery in risk appetite.
The dollar rallied sharply on Tuesday, boosted by a steep drop in oil prices and comments from a Federal Reserve official suggesting that U.S. interest rates may have to rise even before financial markets recover.
Oil prices fell to a six-week low on Tuesday amid concerns over sliding U.S. energy demand and expectations that a tropical storm pushing through the Gulf of Mexico would spare most offshore oil production.
Oil prices rose Monday on a threat of new sanctions against Iran and as Tropical Storm Dolly headed into the Gulf of Mexico, prompting a hurricane watch for parts of Texas and Mexico.
The dollar slipped on Monday, losing some of its recent momentum, after better-than-expected earnings from Bank of America failed to convince investors that the worst for the U.S. financial sector is over.
For the week ending Friday, July 18, 2008, the U.S. markets saw extreme volatility yet settled higher on better-than-expected earnings results, a pullback in crude oil, and an indication that the Fed will hold interest rates steady. Nonetheless, the Dow had its best week since April 18 and its best 3-day percent gain since March 2003 even after closing below 11,000 for the first time since July 2006.
Oil fell for the fourth consecutive day, pulled lower by growing demand concerns and easing tension between Iran and the West.
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The dollar rose against a basket of six major currencies on Friday, boosted by news Citigroup posted a smaller-than-expected loss in the second quarter, further calming fears about the health of the U.S. financial sector.
A quick, decisive, Fed-led program of dollar purchasing would stabilize the currency and re-set levels for the 40-plus nations pegged against it. It would bring oil prices down by an estimated 20 to 30 percent.