Tuesday saw the dollar hover at a near five week low while oil eased as traders anticipated a policy meeting at the Federal Reserve that could discuss whether the US economy requires a cash injection. Only a small percentage of speculators expect the Fed to make further easing moves and gains in the dollar could [ Read More ]
Following a 3.7 percent drop last week, oil was steady on Monday as investors watched for signals of sustained economic growth in the US ahead of a key policy meeting at the Federal Reserve. US crude for October was unchanged at $73.66 a barrel, while ICE Brent for November rose 12 cents to $78.33. The [ Read More ]
The price of spot gold increased on Monday to near its record, raising speculation of more quantitative easing in the USA as investors remain concerned about the economic recovery. Gold was pushed to an all-time high on Friday following weak data. Consumer morale dropped to its lowest in 13 months in August while underlying inflation [ Read More ]
Oil dipped for a successive third day yesterday ahead of the restart of an important North American pipeline that will provide US refiners with crude supplies. The 670,000-barrel-per-day (bpd) Enbridge pipeline, which transports oil from Canada to the US will reopen on Friday after a one-week closure for essential maintenance. October’s US crude futures dropped [ Read More ]
The dollar fell to it’s lowest point in 15 years on Tuesday after Japanese Prime Minister Naoto Kan won the ruling party leadership vote and speculation was raised that Tokyo would not doing anything to immediately slow down the rising yen. Ichiro Ozawam, who had made a strong case to curb the yen’s rise lost [ Read More ]
The euro increased off the back of positive Chinese factory data while shares in Asia and Europe rose on Monday. Lenders were given some respite after a deal on global bank rules meant they can put off having to raise hundreds of billions of dollars in fresh capital. Japan’s Nikkei average .N225 ended 0.9 percent [ Read More ]
Forecasted economic growth in the USA for the remainder of this year and next was reduced for a consecutive third month by a 50-strong panel of economists. The weaker prospects of growth for 2010 growth came from lower expectations for consumer spending, business investment and private construction according to the latest Blue Chip Economic Indicators [ Read More ]
Oil continued to lose money on Tuesday as the dollar strengthened but there were no indications of disruption to crude or refining output as Tropical Storm Hermine made landfall near the Mexico-Texas border . October saw US crude fall as high as 1.25 percent to $73.67 and was down a further 91 cents at $73.69 [ Read More ]
World stocks took a dip from the one-month high on Tuesday the day before and the euro suffered as fresh concerns over the European banking sector caused investors to halt their recent rally. A report in the Wall Street Journal stated recent “stress tests” done on of the strength of major banks in Europe underestimated [ Read More ]
A stronger-than-expected jobs report could mean an optimistic stock market next week with further market gains likely. The economy may not be headed for another severe downturn as feared after a positive government’s nonfarm payrolls report on Friday. All three major US stock indexes increased more than one percent on Friday. September is usually the [ Read More ]
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