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Government Takes Control of Fannie, Freddie

posted by MarcB 1357 days ago in USD, Fundamental, Housing made popular 1356 days ago

The Government on Sunday seized control of mortgage finance companies Fannie Mae and Freddie Mac, launching what could be its biggest federal bailout ever, in a bid to support the U.S. housing market and ward off more global financial market turb

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Exporters Happy with Falling Aussie Dollar

posted by skushno 1358 days ago in AUD made popular 1356 days ago

"It is a tough time and it's nice to see the dollar falling because I think it's going to give us some advantages."

While delighted, Mr Murray said local exporters were now much better able to cope with a rising currency in contrast to previou

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Japan Business Spending Falls

posted by skushno 1358 days ago in Quarterly made popular 1356 days ago

TOKYO -- Japan's business spending fell for the fifth-consecutive quarter during the April-June period, while corporate sales and profits also tumbled, according to a government survey released Friday.

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Mitsubishi UFJ Financial Group Cutting Jobs in London

posted by skushno 1358 days ago in JPY, Employment, Manufacturing made popular 1356 days ago

"Earnings at the U.K. unit have been hurt as they've been affected by the subprime crisis," said Hiroshi Kutose, a spokesman in Tokyo for Mitsubishi UFJ Securities. Between 80 and 90 jobs will be cut, he said, without naming individuals.

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ECB, BoE expected to leave interest rates steady

posted by warrenbuffet 1361 days ago in EUR, GBP, Inflation made popular 1361 days ago

The European Central Bank and Bank of England will likely leave interest rates unchanged on Thursday as they face mounting inflation and slowing growth.

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Oil Posts Fifth Straight Decline

posted by JayP 1361 days ago in CAD, Oil made popular 1361 days ago

Oil pared much of its daily slide, but still closed lower for a fifth straight session. Light sweet crude for October closed at $109.35, down 36 cents on the session. Oil touched as low as $107.22, more than $40 off its record high of $147.27 set

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'Loonie' Jumps as Bank of Canada Leaves Rates at 3.00%

posted by JayP 1361 days ago in CAD, Fundamental made popular 1361 days ago

The Canadian dollar jumped this morning as the Bank of Canada left rates steady at a nearly 3-year low of 3.00 percent, as expected. However, the more market-moving factor involved with the rate decision was the commentary contained within the G

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Real Interest Rates Are Actually High

posted by trade2win 1361 days ago in USD, Fundamental, Inflation made popular 1361 days ago

I am going to make a shocking statement. Here it is: Real interest rates are high. Before stating the basis for such a seemingly wild claim it is important to define some terms. In this case "real" means inflation adjusted.

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As gas prices go down, so will food, right? No

posted by ooogleemooglee 1374 days ago in USD, Consumer made popular 1374 days ago

As prices for crude oil and other commodities ease, Americans have gotten a small dose of relief at the gas pump. But don't expect less pain at the grocery counter.

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NZ Economy sound despite finance company collapses

posted by ooogleemooglee 1375 days ago in NZD, Fundamental, Special made popular 1374 days ago

The New Zealand financial system remains fundamentally sound and is working well despite high profile meltdowns of several finance firms, says the Reserve Bank.

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Dollar Falls on U.S. Manufacturing Slump, Credit-Market Loss

posted by ooogleemooglee 1375 days ago in USD, EUR, JPY made popular 1374 days ago

The dollar fell to a one-week low against the yen on speculation a manufacturing industry contraction and credit-market losses will prompt the Federal Reserve to hold off from raising interest rates.

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Meat, Dairy May Push Food Inflation to 28-Year High

posted by odell 1375 days ago in USD, Inflation, Consumer made popular 1374 days ago

Rising prices for meat, dairy products, cooking oil and fresh produce may accelerate U.S. food inflation this year at the fastest pace since 1980, the government said in a report.

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