Greece itself isn't terribly important; the problem would be possible contagion if it exits the euro, hedge fund pioneer Julian Robertson said.» Read More
The U.S. dollar held steady against the euro Monday in European trading at the start of a week that will see the latest interest rate decision from the European Central Bank.
For the week ending Friday, April 4, 2008 the US Markets all ended the week up over 3% or more holding on to the gains from Tueday's big rally. This is the third consecutive week of gains for the NASDAQ, something it has not had since October of last year.
The dollar fell against the euro and yen Friday in volatile trading as investors digested the U.S. March jobs report and focused on the rise in the unemployment rate.
The dollar gained against the euro Thursday after news the U.S. service sector shrank less than expected in March.
The dollar rose against the yen Wednesday, following U.S. stocks higher, as investors bet that the worst of the credit crisis may be over and grew more tolerant of risk.
The dollar vaulted higher Tuesday after major banks UBS and Lehman Brothers raised a combined $19 billion to shore up their balance sheets, boosting hopes that the worst of Wall Street's problems may be over.
European markets rallied to their highest close in a month Tuesday, as banking stocks surged after UBS reported a major writedown, giving investors hope the crisis in banks was nearing an end.
The euro came close to a record high against the dollar Monday as higher-than-forecast euro-zone price data reinforced expectations that the inflation-focused European Central Bank will not start cutting rates soon.
Business activity in the U.S. Midwest contracted in March for the second consecutive month, a report showed Monday that continued the recent run of data highlighting worries of recession.
A look at the data and happenings that shaped the first quarter for European businesses and markets.
After a dismal first quarter, investors look forward to what the spring has in store; but apart from a new gold rush and the euro rising further, there seems to be little to anticipate.
For the week ending Friday, March 28, 2008 the US Markets ended mixed after starting on a high note Monday extending last week's market rally. The winning streak came to an end on Tuesday when the Dow closing down for the first time in three sessions. The NASDAQ had the strongest performance of the week managing a positive gain despite weak earnings from Oracle and poor performance from Google . Economic data dragged on the markets with consumer sentiment and confidence at low levels and negative housing data.-Next week the markets will watch Friday's jobs report for evidence of recession, and any revisions on guidance as we move into earnings season. Alcoa kicks off "official" earnings season on Monday, April 7th after the bell. The big companies for next week all hit on Wednesday with RIM , Monsanto and Best Buy all reporting earnings.
The dollar edged higher against the euro and Swiss franc Friday, marginally supported by improving money market conditions that helped ease the impact of generally bleak U.S. economic data.
The dollar rallied Thursday after suffering steep losses in the last two sessions, rising on data showing the U.S. economy grew in the fourth quarter in line with market expectations.
The central banks of Britain and Switzerland added extra funds to ease pressure on high interbank lending rates on Thursday, while the European Central Bank said it was ready to step in with extra cash.
The dollar fell for a second straight session Wednesday after an unexpected drop in durable goods orders heightened worries about the health of the U.S. economy and backed expectations of further interest rate cuts.
German corporate sentiment unexpectedly rose in March to its highest level in seven months in defiance of the strong euro, surging oil prices and concerns about the economic situation in the United States.
The European Commission expressed concern on Wednesday about the euro's rise, saying it added to the strengthening headwinds facing euro zone growth, but stuck to its 1.8 percent forecast for 2008 economic growth.
The dollar retreated broadly Tuesday, posting its steepest loss against the euro in two weeks, hurt by concerns about the health of the U.S. economy and the global financial sector.
The European Central Bank is watching currency markets very closely, Vice President Lucas Papademos said in comments released on Tuesday.