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EU Won't Manage Unified Banking Plan

posted by MarcB 1327 days ago in EUR, Fundamental, Daily made popular 1326 days ago

The European Union will not respond with a U.S.-style bailout package to the current crisis but it will probably decide to guarantee all private deposits in banks across its territory to boost citizens' confidence in financial institutions, analy

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Job Losses Pushing U.S. Economy Into `Significant' Recession

posted by MarcB 1329 days ago in USD, Fundamental, Daily made popular 1328 days ago

The U.S. may be heading for its worst recession in at least a quarter century as the credit crisis forces employers across the country to cut workers and ratchet back spending.

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Oil Closes Slightly Lower, Loses $13 For The Week

posted by MarcB 1329 days ago in USD, Fundamental, Gold made popular 1328 days ago

Oil closed a choppy session slightly lower on Friday in U.S. trading. Light sweet crude for November delivery moved to $93.88, down 9 cents on the session. Prices fell to a two-week low of $91.30 at the start of the session but later climbed as h

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Employment Falls By More Than Expected in September

posted by MarcB 1331 days ago in USD, Fundamental, Employment made popular 1329 days ago

Employment fell by more than expected in the month of September, according to a report released by the Department of Labor on Friday, although the unemployment rate remained unchanged compared to the previous month.

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How Ireland Will Destroy the Euro

posted by MarcB 1331 days ago in EUR, Fundamental, Daily made popular 1331 days ago

Ireland's decision to guarantee all bank deposits will contribute to the demise of the single European currency, because it will erode the euro's credibility if it's allowed to go ahead, Hugh Hendry, chief investment officer and Partner at Eclect

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Dollar Heads for Weekly Loss Versus Euro Before U.S. Jobs

posted by MarcB 1331 days ago in USD, EUR, JPY made popular 1331 days ago

The dollar fell against the yen, headed for a third weekly loss, before a government report that will probably show the deepening credit crunch contributed to the biggest drop in employment in more than five years.

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Mexican Peso Drops to One-Year Low on Growth Concerns

posted by MarcB 1332 days ago in Fundamental, Daily, GDP made popular 1331 days ago

Mexico's peso dropped to a one-year low amid concern a global economic slowdown will reduce demand for emerging-market assets.

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Crude Drops By Nearly 5%

posted by MarcB 1332 days ago in USD, Daily, Oil made popular 1331 days ago

Crude oil lost almost 5% on Thursday and closed at a 16-day low. Light sweet crude for November delivery ended the session at $93.97, down $4.56 on the day. Prices touched as low as $93.65 in mid-afternoon trading.

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Gold Gains in London as Weaker Dollar Spurs Demand for Safet

posted by MarcB 1333 days ago in USD, Daily, Gold made popular 1332 days ago

Gold rose in London as a weakening dollar and speculation of a deepening global financial crisis increased the metal's allure as an alternative asset.

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Dollar Rises Against Euro on Demand for U.S. Currency Fundin

posted by MarcB 1333 days ago in USD, EUR, Daily made popular 1332 days ago

The dollar rose against the euro for a third day as demand for funding in the U.S. currency increased, reflecting banks' reluctance to lend to each other amid a global credit crunch.

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Chicago PMI Indicates Slower Growth In September

posted by MarcB 1334 days ago in USD, Fundamental, Manufacturing made popular 1332 days ago

Tuesday morning, the National Association of Purchasing Management - Chicago released its report on business activity in the Chicago-area manufacturing sector in September, showing that the pace of growth in the sector slowed compared to the prev

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Euro Falls Most Against Dollar Amid European Banking Failure

posted by MarcB 1334 days ago in USD, EUR, Fundamental made popular 1332 days ago

The euro fell the most against the dollar since the introduction of the shared currency in 1999 after France and Belgium led a state-backed rescue of Dexia SA, as the widening financial crisis forces governments to prop up financial institutions

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