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BoE says it can't give banks long-term support

posted by nancypants 1353 days ago in GBP, Fundamental, Inflation made popular 1353 days ago

Bank of England governor Mervyn King warned Thursday that planned money market reforms by the central bank will not provide long-term assistance to banks facing tougher lending conditions, arguing that was a government responsibility.

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Gold Falls Below $750 on Dollar's Surge; Silver Plummets

posted by nancypants 1353 days ago in USD, Gold, Metals made popular 1353 days ago

Gold fell below $750 an ounce, marking the longest slump in eight years, as the dollar's surge reduced demand for the precious metal as an alternative investment. Silver dropped to the lowest since June 2006.

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Crude Oil Falls Below $101

posted by JayP 1353 days ago in USD, Oil made popular 1353 days ago

Oil plunged again on Thursday and threatened to cross below the key $100 a barrel mark. Light sweet crude for October settlement closed at $100.87, down $1.71 on the session. Prices dipped as low as $100.10 in mid-morning trading.

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Dollar Rises to One-Year High Against Euro on Global Outlook

posted by JayP 1353 days ago in USD, GDP made popular 1353 days ago

The dollar rose to a one-year high against the euro on signs global growth is slowing, and the yen strengthened on speculation investors will sell higher-yielding assets funded by loans in Japan.

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CNBC: Don't Rule Out Another Fed Rate Cut This Year

posted by odell 1353 days ago in USD, Special, Inflation made popular 1353 days ago

Though there’s virtually no chance the Fed will change interest rates at its meeting next Tuesday, there’s a growing likelihood it will make subtle changes in the language of its policy statement, placing greater emphasis on the risks to growth t

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Canadian Dollar Falls as Report May Say Trade Surplus Shrank

posted by MarcB 1353 days ago in CAD, Fundamental, Trade made popular 1353 days ago

The Canadian dollar fell before a government report that may show the nation's trade surplus shrank in July as crude oil prices during the month declined for the first time since March.

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New Zealand Cuts Rates, Euro Falls

posted by MarcB 1353 days ago in USD, EUR, NZD made popular 1353 days ago

The Euro broke 1.40 following the Reserve Bank of New Zealand interest rate decision as traders realized that the European Central Bank could cut interest rates over the next few months. Despite the hawkishness of ECB President Trichet, it should

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Bernanke: Financial crisis taking toll on economy

posted by odell 1373 days ago in USD, Special, Inflation made popular 1371 days ago

Federal Reserve Chairman Ben Bernanke said Friday the financial crisis that has pounded the country — coupled with higher inflation — is taking a toll on the economy and poses a major challenge to Fed policymakers as they try to restore stability

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Crude Crushes the Dollar; Financials Threaten

posted by jkgreen 1373 days ago in USD made popular 1373 days ago

Oil prices are above $120 a barrel on geopolitical tensions and fears that Tropical Storm Fay will make landfall for the third time, which is an extremely rare occurrence.

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Pound Plummets As Growth Stalls, Euro Follows Suit

posted by JayP 1374 days ago in USD, EUR, GBP made popular 1373 days ago

The pound reversed yesterday’s gains after the second reading for 2Q GDP was flat. After reaching as high as 1.8797 during the U.S. session the sterling dropped over two hundred points to 1.8573. Growth in the U.K. was unexpectedly revised lower

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U.K. Economic Growth Stagnated in Second Quarter

posted by odell 1374 days ago in GBP, Fundamental, GDP made popular 1374 days ago

The U.K. economy stagnated unexpectedly in the second quarter, ending the nation's longest stretch of economic growth in more than a century.

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Japan's trade surplus falls 86.6 percent in July

posted by odell 1374 days ago in JPY, Fundamental, Trade made popular 1374 days ago

Japan's trade surplus in July fell 86.6 percent from a year earlier as spending on imports grew because of higher prices for oil and other commodities, the government said Thursday.

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