Oil higher despite stronger dollar
Oil prices rose on Monday after the European Union agreed on a bailout plan for Ireland. |||
New York – Oil prices rose on Monday after the European Union agreed on a bailout plan for Ireland, which offset some concern that a financial crisis could surface in Portugal and Spain.
The gain came even as the dollar was stronger against other currencies. Since oil and other commodities are priced in dollars, a stronger dollar makes them more expensive for buyers who use foreign currencies.
Benchmark crude for January delivery rose $1.97 to settle at $85.73 a barrel on the New York Mercantile Exchange.
The dollar soared against the euro. In late trading in New York, the euro dropped to $1.3116 from $1.3237 late on Friday. It had earlier fallen below $1.31 for the first time since September 21. – Sapa-AP
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Treasurys, dollar stay up after GDP revised higher
NEW YORK (MarketWatch) — Treasury prices and the dollar held onto gains on Tuesday after the U.S. said the economy grew at a 2.5% pace in the third quarter, revised from a previous estimate of 2%. Yields on 10-year notes , which move inversely to prices, fell 5 basis points to 2.75%. The dollar index , which tracks the performance of the greenback against a basket of other major rivals, rose to 79.143 from 78.611 in North American trade late Monday. The euro fell to $1.3502, versus $1.3629 Friday. Bonds and the dollar were higher before the data as military tensions on the Korean Peninsula and worries about Ireland and Portugal had investors seeking relatively safer assets. Still to come is data on existing home sales, the Federal Reserve’s next buyback, the government’s sale of 5-year notes and the release of the minutes from the most recent Fed meeting.
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ForexLive Holds Roundtable for Forex Traders
NEW YORK, Nov. 18, 2010 /PRNewswire/ — ForexLive, a market analysis forum for foreign exchange traders, investors and enthusiasts, held a roundtable, “Is the Dollar Doomed?” for forex traders with analysts Jamie Coleman, Sean Lee and Gerry Davies in New York on November 4. To view the full di
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Treasurys improve, dollar up after retail sales
NEW YORK (MarketWatch) — Treasury prices pared their losses and the dollar’s gains shrunk slightly on Monday after a report showed U.S. retail sales rose 1.2% in October, more than expected. Yields on 10-year notes , which move inversely to prices, rose 8 basis points to 2.87%. The dollar index which measures the greenback against a basket of six major currencies, climbed to 78.361, from 78.467 before the data and up from 78.106 late Friday in North American trading. The euro traded at $1.3651, from $1.3635 earlier and down from $1.3627. Still to come is the Federal Reserve buyback of Treasurys.
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Wall Street Retreats As Investors Turn To Gold
New York, NY, United States (AHN) – U.S. stocks fell slightly on Monday as hedge-seeking investors went for commodities and sent gold prices up to a record high of $1,403 an ounce.
The Dow Jones Industrial Average lost 37 points or 0.3 percent to close at 11,407. Boeing Co., Home Depot Inc. and Travelers Cos. were the top losers.
The Standard & Poor’s 500 Index gave up 2.6 points or 0.2 percent to close at 1,223.
The Nasdaq Composite Index gained a point ending at 2,580.
Oil for December delivery gained 36 cents to settle at $86.85 per barrel.
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OANDA Launches Currency Converter App for Windows Phone 7
NEW YORK, Nov. 11, 2010 /PRNewswire/ — OANDA Corporation, provider of innovative online forex trading and the world’s most accurate currency data, has developed a free currency conversion application for Microsoft’s revamped mobile operating system, Windows Phone 7 (WP7), which was officially intro
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J.P. Morgan Helps Corporates Simplify and Trim Costs from Cross-Currency Payments
NEW YORK–(BUSINESS WIRE)–J.P. Morgan Treasury Services has expanded and improved its foreign exchange solution by introducing new enhancements that help corporate clients cut costs and simplify the way cross-currency Automated Clearing House (ACH) payments are made. Instead of initiating payments from multiple in-country bank accounts and paying numerous wire fees, clients now can use a single account to perform foreign exchange conversion and execute ACH transactions in 19 currencies. The sol
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Gold loses some luster Monday
NEW YORK, Nov. 1 (UPI) — Gold lost some luster Monday on the Comex division of the New York Mercantile Exchange, as the dollar gained against the euro and the yen.
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Dollar, Treasury yields rise after confidence
NEW YORK (MarketWatch) — Treasury prices stayed down and the dollar held onto solid gains on Tuesday after the Conference Board’s index on U.S. consumer confidence rose to 50.2 in October. The dollar index , which measures the U.S. unit against a basket of six major currencies, rose to 77.634 from 77.075 late Monday. The euro traded at $1.3871, down from $1.3985 Monday. Yields on 10-year notes , which move inversely to prices, rose 4 basis points to 2.61%.
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Gold futures edge down, reversing earlier gains
NEW YORK (MarketWatch) — Gold futures gave up gains earlier in the session Thursday, after reaching $1,349.60 an ounce, as the dollar pared some losses against a basket of major currencies. The precious metal will likely consolidate further along with the dollar as more economic data comes in and before the Group of 20 meeting. “A period of consolidation would be healthy given the scale of gains seen in recent weeks although physical demand and investment-bargain hunting should keep gold underpinned,” said James Moore, a research analyst at FastMarkets. Gold futures for December delivery fell 50 cents to $1,343.70 an ounce, after closing at $$1,344.20 on Wednesday.
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