NEW YORK, Sept 3- The euro fell 1 percent on Thursday on a darkening euro zone outlook, while U.S. stocks pared sharp early gains as investors grew cautious ahead of Friday's key jobs report. Stocks rallied earlier following European Central Bank President Mario Draghi's pledge to beef up or prolong the bank's economic stimulus if necessary.» Read More
A slew of weak economic news and stronger than expected inflation news is weighing on stocks ahead of the Presidents’ Day weekend. Consider: .
Former U.S. Federal Reserve Chairman Alan Greenspan on Thursday said the U.S. economy is "clearly on the edge" of a recession.
The Bank of Japan left its policy rate target unchanged at 0.5 percent on Friday as uncertainty persists over the nation's economic outlook despite resilient growth figures for the last quarter of 2007.
On Tuesday, we had the Warren Buffett rally. On Valentine's Day, it was the Ben Bernanke selloff.
The dollar dipped against the euro and yen Thursday after Federal Reserve Chairman Ben Bernanke said the U.S. economic outlook had worsened and that the central bank would act as needed to support growth.
Fed Chairman Bernanke told Congress the country's economic outlook has deteriorated and signaled that the central bank is ready to keep lowering rates.
The full text of Federal Reserve Chairman Ben Bernanke's prepared testimony on the state of the U.S. economy and financial markets delivered before the Senate Banking Committee.
Singapore cut its economic growth forecast for 2008 on Thursday after the first quarterly contraction since 2003, citing worries about a U.S. recession, and said inflation would be higher than it thought earlier.
Australia's jobless rate surprised by falling to a 33-year low of 4.1 percent in January, adding to concerns the drum-tight labor market was stoking inflation and cementing the case for an urgent rise in interest rates.
Japan's economy grew 0.9% in the last quarter of 2007, double the expected rate, but a likely slowdown this year meant analysts still saw the Bank of Japan keeping interest rates on hold in 2008, or possibly cutting them.
Fed Chairman Ben Bernanke has yet to win the hearts and minds of many on Wall Street. But a stand-out performance during his appearance before Congress on Valentine’s Day may bring him considerably more admirers.
The dollar rose to a one-month high against the yen Wednesday after government data showed an unexpected rise in U.S. retail sales last month, momentarily dampening views that the U.S. economy is contracting.
Japanese annual wholesale inflation hit a 27-year high of 3 percent in January due to rising oil and other raw material costs, but the Bank of Japan is likely to sit tight on rates in the face of cost-push inflation and slowing global growth.
Federal Reserve Chairman Ben Bernanke told lawmakers Tuesday he expects the downtrodden U.S. housing sector to improve by the end of the year.
The dollar fell against the euro Tuesday but gained on the yen after Warren Buffett said he had offered to assume troubled bond insurers' liabilities, a move that may ease recent credit market turmoil.
The U.S. appears likely to avoid an economic downturn but the chances of a recession have risen, St. Louis Federal Reserve Bank President William Poole said Monday.
The yen rose broadly Monday as investors grew more risk averse, while the euro eked out a small gain against the dollar as the market weighed inflation remarks from monetary policy-makers.
UK factory gate inflation surged to a 16-year high in January, while input price inflation reached an all time high, official data showed on Monday.
Australia's central bank bluntly warned on Monday that it would likely need to raise interest rates again to restrain inflation, even as it trimmed its outlook for economic growth.
The euro recovered a little Friday but was on track for its biggest weekly fall versus the dollar in 1-1/2 years amid growing expectations the European Central Bank will cut interest rates later this year.