Despite having a lot of cash, Nintendo has not deployed it on restructuring efforts hence it is not benefiting from the weaker yen, says Peter Boardman, Managing Director at Tradewinds.» Read More
A rally in the U.S. dollar stalled and the currency was little changed against the euro Tuesday as some investors sold the greenback to lock in profits after it touched multi-month highs.
The dollar extended last week's rally and rose versus the euro on Monday as investors assessed how hard the slowdown blighting the U.S. economy would hit the rest of the world.
The dollar soared Friday in what analysts are calling a game-changing move as concerns about the deteriorating euro zone economy gripped investors and commodities sold off.
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.
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.
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.
With many commodities facing a precipitous fall off, Fast Money’s Joe Terranova told Dylan Ratigan on Closing Bell that the only trade left to unwind is probably the Japanese Yen.
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.
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.
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.
The dollar rose broadly Wednesday as a report showing that U.S. private sector unexpectedly added jobs in July raised prospects of an improvement in non-farm payrolls data Friday.
The dollar surged to a one-month high on Tuesday as a sharp drop in crude oil prices and an unexpected rise in U.S. consumer confidence in July buoyed demand for riskier assets and sparked a rally on Wall Street.
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.
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.
The dollar dropped against the yen Thursday, dragged down by disappointing news in the U.S. housing sector and steep losses on Wall Street.