Stocks Climb As Dollar Weakens
U.S. stocks sharply fell early in the session on Wednesday before closing higher amid the weakening of the dollar.
View full post on All Stories
Efforts to reform export controls detailed
NASHUA – When American troops in Afghanistan needed replacement monitors to guide tanks through the desert, U.S. export laws made the transaction impossible. The monitors had been manufactured and were sitting in the U.S. ready to ship, but export laws required the old monitors be returned before new ones could be sent – an impossible task, given that the screens serve as a soldier’s eyes from inside the tank. This is one of several anecdotes U.S.
View full post on Business Stories
Germany, China Lead International Criticism Of Decision By U.S. Federal Reserve To Buy $600 Billion In Bonds
Washington, D.C., United States (AHN) – The decision by the United States Federal Reserve to pump $600 billion into the nation’s economy by buying U.S. Treasury Bonds has sparked international criticism led by Germany and China.
China and Germany represent the world’s second- and fourth-largest economies respectively. In addition, they were joined by Brazil and South Africa in criticizing the “quantitative easing.” Quantitative easing is the economic term for buying assets to attempt to boost the economy and lower unemployment.
However, Germany, China, Brazil and South Africa allege that the scheme will not help the U.S. economy and will instead create more problems in the rest of the world. Quantitative easing is expected to lower the value of the dollar, which will make U.S. exports cheaper in world markets.
That means that U.S. exports would be more competitive against German and Chinese exports.
Indeed, the dollar did plunge in value against several of the world’s currencies on Thursday.
Germany’s Finance Minister Wolfgang Schaeuble on Friday said the U.S. Federal Reserve’s move would undermine efforts to create a level playing field in the currency markets.
China Central Bank chief Zhou Xiaochuan said the U.S. should focus on reforming the international currency system. He argued that if the U.S. central banking policy is good for the U.S., but not good for the rest of the world that it might have a negative impact on the rest of the world.
The U.S. has criticized China for artificially keeping its currency devalued for many years to make its exports cheaper. But China made that move when its country had full employment and a budget surplus. The U.S. central bank is not buying U.S. Treasury bonds to deflate the value of the dollar abroad but rather to try to pour money into the American economy – which currently has a budget deficit – and to stimulate the weak economy to encourage American businesses to hire unemployed American workers at a time of continued high unemployment.
Germany also criticized the move because they said it would add to America’s deficit.
View full post on All Stories
Dollar adds to gains after ISM, factory data
SAN FRANCISCO (MarketWatch) — The U.S. dollar solidified a turn higher Wednesday after a report on October growth in the services sector came in stronger than expected, and factory orders in September strengthened. The dollar index rose to 76.83, up from 76.719 late Tuesday and 76.605 earlier in the session. The euro bought $1.4023, down from $1.4036 late Tuesday and $1.4052 earlier in the session. Investors are keyed into the Federal Reserve’s afternoon policy meeting, when the central bank is expected to announce a new stimulus program involving large-scale bond purchases.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
View full post on All Stories
Oil drops below $82 ahead of Fed moves, US vote
Oil prices fell below $82 a barrel Friday in Asia as traders remain cautious ahead of next week’s key Federal Reserve meeting and U.S. midterm elections.
View full post on Business Stories
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%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
View full post on All Stories
Daily forex forecast – 25/10/2010
The Aussie opens higher on Monday at 0.9850 and received a boost after comments by U.S. Treasury Secretary Timothy Geithner at the weekend’s G-20 conference.
View full post on All Stories
Forex Markets Trend Analysis on EURUSD, GBPUSD and USDJPY – Oct2010
In this video Alexander Nikolov discusses the Short-Term and Medium-Term trends in major forex pairs. He explains why it is likely the U.S. dollar to remain weak against most of the world currencies. He spots apotential trend reversals in GBPUSD na USDJPY markets.
View full post on All Stories
Limited Brands CEO sees sales up four-fold
NEW YORK (MarketWatch) — Limited Brands Inc. , the parent of Victoria’s Secret and Bath & Body Works, could double the size of its about $9 billion in U.S. sales over the next five years, Chief Executive Leslie Wexner said at a meeting with analysts and investors in New York on Wednesday. The Columbus, Ohio-based company, which only in recent years started to experiment with international expansion, also has the potential to reap another $20 billion in sales outside of North America, Wexner said. Limited Brands shares rose 1.6% in midday trading. They’ve risen more than half this year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
View full post on Business Stories
Treasuries, Dollar, Yen Strengthen; U.S. Stocks Fluctuate
The advance in Treasuries sent the 10-year yield down four basis points to 2.52 percent at 9:37 a.m. in New York. The Dollar Index pared gains after climbing as much as 0.8 percent, the biggest gain since Sept. 15, while the yen appreciated against all 16 most-traded counterparts. The Standard &…
View full post on All Stories
-
Day Trading Guide- Fitch downgrades Greek sovereign debt
- Clinton urges Americans to invest in Myanmar, names ambassador
- Gambia: Small country with a big crisis
- Verizon ending unlimited data for phone upgrade
- Senate confirms Federal Reserve nominees
- Aiming to leave least developed country list
- Bret Michaels settles lawsuit over Tony awards injury
- JC Penney store sales plunge nearly 20 percent
- Skechers to pay $40 million to settle false ad claims
- French lingerie exhibit gets intimate
- Trade Online, Online Opportunities
- Business Credit Information
- Honda widens recall for airbag problem
- GM CEO: Earnings good, but not good enough
- Chinese companies buying automaker Saab
- Suzuki demands VW return shares after alleged contract breach
- Chrysler has best September since 2007
- Honda recalls million cars worldwide
- General Motors to manufacture plug-in Cadillac ELR plug-in hybrid electric car
- GM earnings soar 92 percent on global sales
- Volkswagen postpones MAN supervisory board takeover
- Business Loans
- Consumer credit card debt down
- Remittances to developing countries rebound
- Fixed mortgage rates steady near 4 percent
- Bank fee hike gives credit unions a boost
- Study: Canadians want to retire at 63
- Study: Growing number of college grads filing for bankruptcy protection
- Survey: Canadians expect to be free from debt when they reach 55
- Monthly Payments Lowered on Defaulted Debt?
- Number of hacked Citi credit card accounts rises to 360,000
- Virgin Atlantic pilots vote to strike over lack of pay increase
- Private Personal Loans
- personal loans
- U.S. Treasury should make $15 billion profit on AIG bailout
- Costco to offer mortgages
- Medicare to tie doctors’ pay to quality, cost of care
- Report: E-books encouraging reading in America
- Justice Dept. Broadens Investigations of Terrorism in Private Records
- Gold falls following Fed policy decision
- Average rate on 30-year fixed mortgage falls to 3.9 percent
- Stocks cross 13,000 for first time since May 2008
- CIA site down, Anonymous claims responsibility
- Mass. Governor Patrick disappointed in Bruins goalie’s snub of Obama
- Personal and Business Loans
- Moody’s downgrades credit of 26 Italian banks
- Initial unemployment claims drop by 1,000
- Fannie Mae not seeking new bailout funds after good quarter
- Mortgage rates fall to record low
- Spain, economic data weigh on U.S. stocks
- Costco to offer mortgages
- U.S. stocks mixed Thursday on weak jobless claims
- Short sales up in housing market
- Beyond the drought – ‘Families will disappear’
- Job growth weaker in March than prior three months
