*Yen near 15- month high despite Japan's verbal intervention. LONDON, Feb 12- Relative calm returned to world markets on Friday after a hurricane-force week that gave dollar/yen its biggest smashing since 2008, wiped billions off share prices and saw a stampede into top-rated government bonds and gold. Japan's Nikkei fell 5.4 percent, having been shut during...» Read More
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...
For the week ending Friday, May 23, 2008, the U.S. Equity Markets ended the week down with all of the major indices off by more than 3% on continued concerns about high energy costs. Oil and gasoline continued to hit new record highs and the dollar declined against major currencies.
The dollar fell on Friday and was set for its steepest weekly slide against a basket of major currencies in two months, as record high oil prices left the U.S. economy vulnerable to slower growth and rising inflation.
Most Asian currencies fell moderately on Friday, surrendering part of their gains from the previous session as investors fretted about the strength of inflation and prospects for slower economic growth.
The dollar rose Thursday, boosted by better-then-expected jobless claims data, but support remained fragile as record high oil prices stoked worries about the health of the U.S. economy.
The dollar fell to a one-month low against the euro Wednesday and touched a one-week trough versus the yen after the Federal Reserve lowered its growth estimates for 2008.
The dollar fell Tuesday as U.S. inflation data added to concerns about the economy's strength and raised doubt about whether the Federal Reserve will be able to hike interest rates this year.
The dollar rose on Monday, rebounding from a 2-1/2 week low against the euro as equities rallied and an economic forecasting gauge showed the U.S. economy, while weak, has so far managed to avoid recession.
For the week ending Friday, May 16, 2008, the U.S. Equity Markets ended the week up with all of the major indices up ~2% or more as stocks gained from M&A news, easing inflation worries, and strong earnings results. Oil and gasoline continued to hit new record highs as the dollar declined against major currencies.
The dollar extended losses against the euro and gave up gains versus the yen Friday, hurt by a report showing that U.S. consumer confidence tumbled to its lowest in 28 years in May.