The dollar rallied against the yen after stronger-than-expected jobs data stoked expectations the Fed may start reducing bond buying sooner than expected.» Read More
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.
Oil prices sank as low as $118 a barrel Tuesday on the growing belief that a U.S. economic slowdown and high energy costs are curbing consumer demand for gasoline and other petroleum products.
Oil briefly fell below $120 a barrel Monday before recovering slightly at the close, pressured by evidence of rising OPEC output in the midst of declining demand in the United States and Europe.
The dollar rose against the yen on Monday as the oil price's drop to a three-month low and some upbeat U.S. economic data generated optimism about the prospects of the broader economy.
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.