Euro zone inflation for July remained steady at 0.2 percent.» Read More
New orders for long-lasting U.S.-made manufactured goods dropped for a third month in a row during October and companies appeared wary about making new investments, according to a Commerce Department report on Wednesday.
Consumer confidence in Germany fell for the fourth consecutive month despite the end-of-the-year holiday season, driven by fears surrounding the strong euro and high prices, according to a survey released Wednesday.
U.S. consumer confidence fell unexpectedly sharply in November to a two-year low on worries about rising gas prices and financial market volatility.
Goldman Sachs on Tuesday slashed its target for the expected trough in U.S. benchmark interest rates by a full percentage point, citing an increased probability of recession and the likelihood of a prolonged period of sluggish performance for the U.S. economy.
The dollar rose against most major currencies Tuesday after Citigroup Inc. said it will sell a $7.5 billion stake to the Abu Dhabi government, restoring some confidence in battered U.S. banks.
A parade of economic data in the next couple weeks will tell volumes about the economy and the Fed’s chances for achieving a soft landing.
The dollar was little changed against the euro and down against the yen Monday with investors finding few reasons to change their view that more Federal Reserve interest rate cuts are imminent.
The odds now point to a U.S. economic recession that slows global growth significantly even if necessary policy changes are implemented, former U.S. Treasury secretary Larry Summers said.
The euro set a fresh record high against the dollar early Friday, though the $1.50 level remained out of reach when the euro was knocked more than a cent off its peak by comments from a euro zone policymaker.
Singapore's October inflation leapt 3.6 percent from a year ago to a 16-year high, reflecting higher costs for food and transport, data showed on Friday, putting pressure on the central bank to curb rising prices.
The dollar hit new record lows against the euro, the Swiss franc and a basket of currencies on Thursday on growing belief that the U.S. Federal Reserve will cut interest rates again next month.
U.S. Treasury Secretary Henry Paulson said the number of potential U.S. home-loan defaults "will be significantly bigger" in 2008 than in 2007, the Wall Street Journal's online edition reported.
The mood among consumers hit the skids in November as gasoline prices soared and the housing slump worsened.
Standard & Poor's expects the U.S. Federal Reserve to cut interest rates to 3.5 percent in 2008 to deal with the fallout from the housing market, S&P's chief European economist said on Wednesday at a banking conference in London.
China will clamp down on new investment projects to help keep growth in the world's fourth-largest economy on an even keel, the government said on Wednesday.
Japan's exports hit a record high in October and the trade surplus jumped by two-thirds from a year earlier, though the increase was slightly less than forecast, raising concerns that a slowing U.S. economy will hurt Japan's export-led growth.
The Federal Reserve is expecting slower growth and lower inflation next year. But minutes from the Fed's October meeting show policymarkers were reluctant to cut interest rates further.
The dollar slid to a record low versus the euro after minutes of the Federal Reserve's October meeting failed to give a clear indication on the central bank's next move on rates.
Groundbreaking for U.S. housing rebounded in October but permits for future building hit a 14-year low, indicating the grim market for home construction will likely continue to worsen.
The Fed and financial markets remain at odds over where the economy and interest rates are heading, and fresh Fed forecasts to be released Tuesday are unlikely to bridge that gap.