Lower oil prices are a tax cut for Japan so it will only be a matter of time before the benefits show up in Japan's economic data, says Joe Zidle, Portfolio Strategist at Richard Bernstein Advisors.» Read More
Japan stepped up its warnings against the yen's rise to a 13-year high against the U.S. dollar, saying it would deal appropriately with the situation which may include forex intervention.
The euro rallied versus the US dollar on Tuesday following the Federal Reserve decision to set its target for overnight interest rates between zero to 0.25%.
Gold has reached a good base of $730 and it looks likely to break out of that negative trend, Robin Griffiths, technical analyst at Cazenove Capital, told CNBC.
Japanese Prime Minister Taro Aso on Friday announced a new stimulus package to shore up his country's economy, with measures to spur employment, encourage lending and inject capital into financial markets.
The US dollar fell across the board Thursday on lower risk aversion among investors, helped in part by the latest monetary actions by central banks from around the world.
As President-elect Barack Obama prepares to take office, the severity of the economic slowdown is pressuring the incoming administration to fuel infrastructure spending as a way to propel the economy. Here are some of the stocks winning from the anticipated stimulus.
The European Central Bank, Bank of England, and Sweden’s Ricksbank slashed their interest rates today in an effort to bolster access to credit while luring consumer spending.
Lousy sales, weak earnings and more layoffs reigned over Thursday, with glum news from Nokia, Viacom, Merck, AT&T, DuPont, Credit Suisse and retailers across the board. European central banks enacted big rate cuts. And Fed Chairman Ben Bernanke urged more government efforts to stanch soaring home foreclosures. But CNBC heard from experts who say that while the news will get worse through 2009, markets will periodically rally — and one strategist sees the Dow at 12,000 in 2010.
The stampede out of equities has driven investors towards safe haven assets such as the Japanese yen -- a currency that has risen sharply as its appeal grows whenever risk appetite wanes. Just how much higher can it go against the U.S. dollar?
The yen is set to slip versus the dollar and euro throughout the week as the recent upswing in stock-market sentiment eases investors' fear, Max Knudsen, director of PIA - First.com, told CNBC.
The U.S. dollar rallied to a two-week high against a basket of currencies Tuesday as worries about a deteriorating global economy prompted investors to shun riskier assets and flock to the safety of the greenback.
The U.S. dollar fell against the euro Monday as news of a large economic stimulus package from China made traders more willing to take on risk.
Australia's central bank lowered its forecasts for economic growth for the next two years, saying it would be reviewing interest rates in the months ahead with the aim of avoiding an even sharper slowdown in domestic demand.
Following rate cuts from the Fed, China and Japan last week, the Bank of England and European Central Bank slashed their key interest rates today. Central Banks from around the world are modifying their monetary policies in a coordinated effort to contain the impact of the global financial crisis.
The dollar trimmed gains against the euro Wednesday after data showed the U.S. services sector shrank more than expected in October.
The dollar fell against most major currencies Tuesday as investors await the result of the U.S. Presidential election and look toward central bank meetings later in the week.
Australia slashed interest rates Tuesday, presaging cuts expected in Europe later this week in the face of mounting evidence that the global financial crisis has already pushed much of the world into a damaging recession.
Australia's central bank cut its benchmark cash rate by a bigger-than-expected 75 basis points on Tuesday, in an increasingly urgent effort to save the economy from the recession rapidly engulfing much of the developed world.
The follwing is the text of the Reserve Bank of Australia's statement after it cut interest rates at its monthly policy meeting on Tuesday.
This October could be the worst month ever for global markets. But with the month coming to an end and investors still fearful of a deep, prolonged recession, what will be the other shoe to drop? CNBC's experts weigh in.