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Higher prices taking toll on economy, Fed says

posted by pipsmgee 1444 days ago in USD, Fundamental, Inflation

The U.S. economy "remained generally weak" in May as higher prices for food and energy were pinching consumers' pocketbooks, the Federal Reserve said Wednesday in its Beige Book report on the economy.

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Trade gap widens, inflated by record oil prices

posted by pipsmgee 1445 days ago in USD, Fundamental, Trade made popular 1445 days ago

The U.S. trade deficit widened to $60.9 billion in April behind higher prices for crude oil and other commodities, the Commerce Department reported Tuesday.

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Slowdown will bring down inflation

posted by pipsmgee 1445 days ago in Fundamental, Inflation made popular 1445 days ago

Federal Reserve Board Chairman Ben Bernanke said Monday that he believes that sluggish growth will hold down inflation, suggesting he is in no hurry to raise interest rates to combat higher prices.

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Japan GDP up, wholesale inflation hits 27-yr high

posted by pipsmgee 1446 days ago in JPY, Fundamental, GDP made popular 1445 days ago

Japan's growth has been revised up to 1 percent for the first quarter but this may be the last hurrah for the world's No.2 economy as surging raw material prices and a global economic slowdown bite.

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Trade deficit jumps to highest level in 13 months

posted by pipsmgee 1446 days ago in USD, Fundamental, Trade made popular 1446 days ago

The trade deficit jumped to the highest level in 13 months in April as America's bill for foreign crude oil soared to an all-time high.

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Oil falls, but gas goes farther past $4

posted by pipsmgee 1447 days ago in Fundamental, Oil made popular 1446 days ago

Oil prices dropped Monday on a stronger dollar and a call from Saudi Arabia for a meeting to talk about prices it called unjustifiably high, but gas prices kept marching higher, leaving the $4 mark in the rearview mirror.

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Dollar reverses overnight losses; market eyes rates

posted by pipsmgee 1447 days ago in USD, Fundamental, Daily made popular 1447 days ago

The U.S. dollar rebounded against the euro and other currencies in North American trading Monday as traders eyed the chance of an increase in U.S. interest rates and some rosier housing market news.

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Canadian dollar ends lower on U.S. economy concern

posted by pipsmgee 1449 days ago in CAD, Daily made popular 1448 days ago

The Canadian dollar fell on
Friday as a record surge in oil prices stirred concerns about
the impact a U.S. slowdown could have on Canada, despite the
direct benefits of expensive crude for the resource-oriented
economy.

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Gold gains over $23 to end the week higher

posted by pipsmgee 1450 days ago in Gold made popular 1450 days ago

Gold futures climbed more than $23 an ounce Friday to log their biggest one-day dollar gain since February, as a larger-than-expected rise in the U.S. unemployment rate put severe pressure on the dollar, raising investment demand for the precious

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Dollar firm as BOE and ECB hold rates steady

posted by pipsmgee 1451 days ago in USD, Fundamental, Daily made popular 1451 days ago

Currency markets posted little lasting reaction Thursday to widely expected decisions by the Bank of England and the European Central Bank to leave key interest rates unchanged.

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U.S. productivity remains in healthy shape

posted by pipsmgee 1452 days ago in Fundamental, Daily, Employment made popular 1452 days ago

Productivity in the U.S. economy remained at a healthy level in the first quarter and labor costs were contained, government data showed Wednesday.

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Bernanke defends the dollar

posted by pipsmgee 1453 days ago in USD, Fundamental, Daily made popular 1453 days ago

Federal Reserve Chairman Ben Bernanke defended the dollar Tuesday, saying that he was uneasy with the weak currency's ramifications for the outlook for inflation.

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