The dollar climbed against the euro on Monday recuperating prior losses as traders’ slash bets the currency will decline based on speculations that Federal Reserve could further ease U.S. monetary policy. A pending homes sales index report and reading for U.S. factory orders due today will furnish more economic insights for investors. A considerable [...]
The State Bank of Pakistan (SBP) Monday said that foreign investment in Pakistan fell 22 percent to $1.73 billion in the first 10 months of the 2009/10 fiscal year but country’s current account deficit in the same fiscal period narrowed to a provisional $3.060 billion. Foreign investment in Pakistan during the same period last year [...]
Amid growing fears over the sovereign debt issues of few European countries euro continued it’s downward spiral hiting a fresh one-year low against the dollar in Asia Wednesday. Downward spiral accelarated after Standard and Poor’s downgraded Greece’s government debt to junk status and sliced Portugal’s ratings by two levels. The downgrades fueled worries that a sovereign debt [...]
As key Chinese economist cautioned that appreciation of local currency will drive exporters out of business, China’s yuan slid lower against the U.S. dollar late Friday afternoon due to the U.S. unit’s strength against other major currencies during Asian trading hours. Comments by Chinese bankers today underscores the domestic political pressures on Beijing amid growing international calls for [...]
The dollar shed value to a month-low against the yen at the close of last week on concerns of global economic recovery.
Stocks had begun the year with a strong start, with the Dow rallying 155.91 points, or 1.5%, on Monday and the S&P 500 and Nasdaq producing comparable percentage gains. Investors are watching the market moves especially closely because January is generally seen as a harbinger of stocks’ performance for the rest of the year.
The ISM’s manufacturing purchasing managers’ index reported Monday was above the 54.0 forecasted by economists and the U.S. stocks climbed up on the first trading day of 2010. The dollar lost some esteem and the price of commodities rose.
Federal Reserve Chairman Ben Bernanke said Sunday the U.S. central bank has a robust strategy to exit from the extraordinary stimulus it made to counter the worst recession in decades.
After three years hiatus, the US dollar is poised for annual gain versus the yen as market is confident of the U.S. recovery. It is expected that the Federal Reserve may withdraw stimulus which will result in higher bond yields.
The US dollar is lower but Swiss franc is strong in light post-Christmas trade Tuesday. Dollar is weak because there is not much happening – lack of fresh positive U.S. economic data, a factor that has been a major driver of recent dollar strength. Traders are trimming some of their recent bets ahead of year-end.
On the other hand the Swiss franc is strong today against its