The dollar touched a two-week high against the yen on Friday and rose from a two-month low versus a basket of major currencies.» Read More
An OPEC summit ended on Sunday in sharp political division over whether to take action over the weak dollar, as heads of state vowed to keep providing Western consumers with an "adequate" supply of oil.
China's central bank chief said on Sunday it could consider a wider trading band for the yuan currency after finance chiefs from the Group of 20 economic powers renewed calls for greater currency flexibility.
OPEC states agreed their finance ministers would meet before Dec. 5 to discuss the sliding dollar's impact on their economies after Iran and Venezuela recommended pricing oil against a currency basket.
The dollar slipped on Friday, but was still on track for its biggest weekly gain in a month, with dealers wary of adding much to extended bets against the greenback with so much uncertainty surrounding the credit market.
Chinese lunchtime television on Friday gave ordinary people a basic tip on how to play the currency markets: sell the dollar!
The euro zone's unadjusted trade surplus rose in September despite the single currency's steady climb as annual export growth still outpaced imports despite a sharp slowdown from August, data showed on Friday.
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?