*OPEC decides against cutting output. Investors took aim at currencies of oil-rich countries as oil prices fell after the OPEC decision. The yen weakened as falling oil prices softened Japan's inflation outlook, fanning expectations of more policy easing by the Bank of Japan.» Read More
The euro was on track for its worst week versus the dollar in three years Thursday, hurt by tempered expectations of euro zone interest rate hikes even as positive retail data bolstered U.S. rate hike expectations.
Nearly 1.5 billion shares and $23 billion traded Tuesday in CNBC's Million Dollar Portfolio Challenge. Here are the bets being made today...
The dollar fell against the euro and yen Wednesday with investors debating the relative outlook for interest rates in the United States and Europe given the rhetoric of various central bank officials in recent days.
Nearly 1.5 billion shares and $24 billion traded Tuesday in CNBC's Million Dollar Portfolio Challenge. Here are the bets being made today...
The dollar rose to a 3-1/2-month high against the yen on Tuesday after Federal Reserve Chairman Ben Bernanke raised his anti-inflationary language, stoking expectations for U.S. interest rate hikes.
Nearly 2.0 billion shares and $26 billion traded Friday in CNBC's Million Dollar Portfolio Challenge. Here are the bets being made today...
The dollar jumped as top Treasury and Federal Reserve officials voiced concern about its recent slide, raising the chances that officials could step into the foreign exchange market to support the U.S. currency.
For the week ending Friday, June 6, 2008, the markets finished in the red as the CBOE Volatility Index (VIX) again crossed above the 20 threshold and oil surged. Stocks were impacted by continued economic concerns, renewed trouble in the financial sector, and a record spike in crude oil on Friday. Although it was a negative week for the markets, the Dow managed a 200+ point rally on Thursday for the first time since 4/18, after retailers posted better than expected same store sales.
The dollar dropped across the board Friday, after data showed the U.S. economy lost jobs for a fifth straight month and the unemployment rate shot up to its highest in more than 3-1/2 years.
The euro rebounded from three-week lows against the dollar Thursday after European Central Bank President Jean-Claude Trichet said euro-zone interest rates could rise as early as next month.
The dollar was mixed Wednesday as a report on the U.S. service sector indicated a less severe downturn and retail sales in Europe dipped unexpectedly.
The dollar advanced broadly on Tuesday after Federal Reserve Chairman Ben Bernanke warned about the inflationary impact of a weak currency, suggesting the central bank is not likely to cut interest rates further this year.
The dollar fell against the yen and gave up much of its gains versus the euro Monday after rating agency Standard & Poor's downgraded U.S. financial sector firms.
For the week ending Friday, May 30, 2008, the markets finished up, with all major indices increasing ~1.3% or higher for the week. Only the Dow declined for the month, shedding 1.42%. The NASDAQ reached its third consecutive monthly gain , up 4.55% for the month. The markets were encouraged by better than expected earnings from retailers and strong results from Dell. U.S. GDP for 1Q also helped lift stocks up, as it rose 0.9% at an annual rate , better than the previous estimate. Crude Oil also retreated to lower levels.
The dollar fell to session lows versus the euro and traded flat against the yen as investors took profits ahead of the weekend after recent strong gains in the U.S. currency, traders said.
The U.S. dollar extended its gains and traded at session highs against the yen and the euro on Thursday, as U.S. stocks added to gains with oil prices pulling back from recent highs.
The dollar rose broadly after a report showed new orders for U.S. durable goods fell by less than expected in April, supporting the view the Federal Reserve may keep interest rates on hold or even raise them by the end of the year.
The dollar rose broadly Tuesday after oil prices fell and a report showed an unexpected rise in U.S. new home sales in April, boosting expectations the economic slowdown is not as bad as feared.
The dollar held its ground on Monday, taking advantage of the ultra-thin volumes owing to U.S. and UK market holidays to arrest its decline of the last three weeks and eke out slender gains against a basket of major currencies.
Over 11 billion stock shares were traded during the second week of the contest, and the most active currency pair, the euro/dollar, traded almost 16B units. Check out the week's winning trades...