Dollar rises, euro retreats from 14-mth high – 22 Oct, 2009
Oct 22, 2009 Make Money Online
* Dollar rises, pulls away from 14-month low vs euro
* Weaker stocks cool risk demand, supporting U.S. currency
* Dlr correction seen limited, EUR/USD to return above $1.50
(Adds comment, updates throughout; previous TOKYO)
By Naomi Tajitsu
LONDON, Oct 22 (Reuters) – The dollar rose broadly on Thursday, rebounding from 14-month lows against the euro and a currency basket as a slide in global share price cooled risk demand and put the brakes on a rally in higher-risk currencies.
European shares .FTEU3 fell around 1.0 percent, tracking Asian and U.S. stocks lower and prompting some investors to book profits from the euro’s rise above $1.50 on Wednesday.
The dollar was also supported by Chinese GDP figures. While showing quickening growth in the economy, the figures sparked selling in higher-yielding currencies, including the Australian dollar, as some in the market had expected even stronger data. Read the rest of this entry »
Tags: American Express, AT&T, Commerzbank, Dollar, EUR, Euro, Forex, GDP, JPY, McDonald's, Phillip Morris, US stock, USD
Shares, oil slip as recovery hopes wane
Sep 19, 2009 Make Money Online
By Herbert Lash
U.S. stocks rose on corporate profit hopes, but global equities faltered and crude oil slipped toward $72 a barrel on Friday, as the U.S. dollar rebounded from a one-year low on waning risk appetite.
Oil fell as dealers took profits from a 5 percent rally earlier in the week and the dollar rose as investors trimmed their positions ahead of holidays in Japan and Singapore next week.
Analysts said a lack of conviction that the global economic downturn was indeed ending had dragged down oil and some equity markets on expectations that fuel demand could stay weak.
World equities came under pressure after scaling an 11-month peak as investors took stock of recent hefty gains. The MSCI all-country world index .MIWD00000PUS fell 0.2 percent after touching a high last seen in early October.
But Wall Street rebounded from earlier losses as investors bet the recovery will be strong enough to sustain corporate profits. Procter & Gamble (PG.N) and major homebuilders advanced on positive brokerage comments. Read the rest of this entry »
Tags: Citigroup, Crude Oil, Dow Jones, economic, Gold, Oil Price, Procter & Gamble, Share, Stock Market, US stock, Wall Street
Big mood shift seen in year after Lehman
Sep 12, 2009 Make Money Online
By Ellis Mnyandu
U.S. stocks are poised to repeat their advance next week as investors bet that the economic recovery is gaining strength and company outlooks are turning rosier.
Despite the upcoming anniversary of Lehman Brothers Holdings’ collapse and the tumult that subsequently rocked Wall Street a year ago, the mood in the market is likely to be more optimistic than gloomy.
A year ago, it seemed as if the financial world was coming to an end when Lehman, a 158-year-old trading company and parent of what had been the fourth-largest U.S. investment bank, filed for bankruptcy on September 15, setting off a scramble by authorities to avert global financial meltdown.
But fast forward to September 2009, U.S. stocks are at fresh 12-month highs, and if next week’s economic reports show that the recession continues to abate, U.S. stocks should extend their run-up.
“The market is still in the process of pricing in an economic recovery,” said Sean Clark, chief investment officer at Philadelphia-based Clark Capital Management. Read the rest of this entry »
Tags: Barack Obama, economic, FedEx Corp, investment bank, Procter & Gamble, Producer Price index, Stock Market, US stock, Wall Street
Oil prices little changed as long weekend looms
Sep 5, 2009 Make Money Online
Oil prices were little changed on Friday as stronger equities boosted hopes for economic recovery, outweighing U.S. jobs data that showed the unemployment rate at a 26-year high.
U.S. crude settled at $68.02, up 6 cents.
London Brent crude dropped 30 cents to close at $66.82.
“Today’s oil price response to the long awaited employment data was muted by the fact that the jobless report provided a mixed bag of information that failed to provide much insight into future economic or oil demand trends,” said Jim Ritterbusch, president, Ritterbusch & Associates, Galena, Illinois. Read the rest of this entry »
Tags: Crude Oil, economic, INTC.O, Intel's, Oil Price, Stock Market, US stock
Oil falls slightly on disappointing economic data
Sep 3, 2009 Make Money Online
By Rebekah Kebede
NEW YORK (Reuters) – Oil prices slipped on Thursday, settling just under $68 a barrel as disappointing news from the labor market outweighed economic optimism from data showing that the U.S. service sector and retail sales improved.
U.S. crude prices for October delivery settled at $67.96 a barrel, down 9 cents, after reaching a high of $69.40 on U.S. stock gains and a weaker dollar earlier.
London Brent crude settled at $67.12 a barrel, down 54 cents.
“Right now, there’s not a whole lot of momentum here in either direction. I think the trend for the week, which has been down, is still in force,” said Tom Bentz, senior commodity analyst, BNP Paribas commodity Futures Inc in New York. Read the rest of this entry »
Tags: Barrel, Crude Oil, economic, Oil Price, Stock Market, US stock
Wall Street off 1 percent after consumer sentiment
Aug 14, 2009 Make Money Online
U.S. stocks extended losses on Friday, with all three major indexes falling more than 1 percent, after data showed U.S. consumer confidence fell in early August as more Americans fretted about their finances.
The Dow Jones industrial average .DJI was down 105.13 points, or 1.12 percent, at 9,293.06. The Standard & Poor’s 500 Index .SPX fell 11.61 points, or 1.15 percent, at 1,001.12. The Nasdaq Composite Index .IXIC shed 28.57 points, or 1.42 percent, at 1,980.78.
(Reporting by Edward Krudy; editing by Jeffrey Benkoe)
Tags: Stock, Stock Market, US stock, Wall Street
Forex Snapshots: Asian Session: GS Results Provides Spark
Jul 15, 2009 Make Money Online
Asian Session: GS Results Provides Spark
July 15, 2009 11:45 AM CEST
Market Brief
The better than expected Goldman Sachs second quarter earnings, released yesterday, have captured the markets imagination over a recovery in the banking sector and has provided continued support for the rally in risk appetite. In addition, better than expected Retail sales and PPI (gasoline prices were a major driver) helped fuel optimism. The EURUSD rallied above the 1.4000 (key resistance now stands at 1.4203 ), while the AUDUSD marches towards the 0.8000 psychological resistance. Equity markets are green across the board and US stock futures are pointing to a higher open. Even the Baltic Dry index seems to have troughed and is gaining momentum to the upside. Interestingly China’s reserves rose to $150bn to $2.13tn in the Q2, one of the fastest reserve accumulations ever recorded. Currently, the momentum in FX markets
Read the rest of this entry »
Tags: AUD, Economics, EUR, Forex, FX Market, JPY, Stock, Stock Market, US stock, USD
