The Tokyo- based maker of the Accord sedan and Odyssey minivan has been the hardest hit among automakers from the costs related to a global recall of Takata Corp.' s air bags that can explode. Honda, which has a stake in Takata, relies heavily on the Tokyo- based air bag and seatbelt maker. Honda estimates its recalls related to Takata air bags worldwide at 24.5 million.» Read More
The U.S. dollar eased off a seven-month peak against the yen on Monday, halting an 11-day advance against a basket of currencies, as falling stocks and rebounding gold saw investors skim profits off a recent rally.
For the week ending Friday, August 15, 2008, U.S. major Indices finished mixed, after the markets digested negative results including a surge in CPI, a decline in retail sales, and continued expansion in unemployment claims. The Nasdaq Composite prevailed amongst the major U.S. indices, as it edged up 1.59% for the week, marking its fifth week of gains. Nasdaq gains were led by bullish comments on Amazon (AMZN) which gained 7.3% for the week. The likelihood of the eurozone moving toward recession allowed for a stronger dollar against the euro, continued pressure on oil, and a positive impact on U.S. stocks as a potential safe haven.
The U.S. dollar jumped to a six-month high against the euro Friday amid signs the U.S. economic slowdown may be bottoming while growth in the euro zone stalls.
The U.S. dollar rallied to an almost six-month high against the euro Thursday amid growing concern over euro zone economic weakness and accelerating inflation in the United States.
Stabilizing U.S. economic growth, falling oil prices and a deteriorating outlook outside the United States have led Goldman Sachs to abandon its ten-year bearish stance on the U.S. dollar.
The U.S. dollar edged lower against the euro on Wednesday after a spike in crude oil prices rekindled worries about the world's largest economy's growth outlook.
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.