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Consumer cut in spending the most since 1980

posted by odell 1304 days ago in USD, Fundamental, Retail Sales made popular 1304 days ago

Scared and out of money, Americans stopped buying everything from cars to corn flakes in the July-September quarter, ratcheting back spending by the largest amount in 28 years and jolting the national economy into what could be the most painful r

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Credit squeeze explained!

posted by odell 1305 days ago in USD, Special made popular 1305 days ago

How did the actions of subprime mortgage borrowers in the US affect global financial markets and lead to the ongoing liquidity crisis - and will the resulting fallout hurt the wider economy? Here's a cool interactive explanation of the credit squ

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Sell Aussie Dollar as China's Economy Weakens, RBC Capital

posted by odell 1307 days ago in USD, AUD, Special made popular 1307 days ago

Investors should sell the Australian dollar against the greenback as the currency is likely to extend this year's record declines because a weaker Chinese economy will sap demand for raw materials, RBC Capital Markets said.

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BoE Says Global Downturn Poses U.K. Stability Risk

posted by odell 1307 days ago in GBP made popular 1307 days ago

The Bank of England said the world economic downturn and turbulence in emerging markets pose heightened risks to Britain's financial stability.

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Yen Falls Against Dollar, Euro as BOJ May Interven

posted by odell 1307 days ago in USD, JPY made popular 1307 days ago

The yen fell amid speculation Japan's central bank will sell its own currency for the first time since March 2004.

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Australia central bank intervenes again

posted by odell 1307 days ago in AUD made popular 1307 days ago

Australia's central bank intervened to prop up the Aussie dollar for a third straight day on Tuesday after the currency fell to fresh 5-½ year lows against the U.S. currency in offshore trade.

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Banking system should steady, but risks remain -BoE

posted by odell 1307 days ago in GBP, Special made popular 1307 days ago

Global intervention should steady the banking system but it will also put big constraints on banks, the Bank of England said on Tuesday, six months after it said it expected confidence to return to financial markets.

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Survey: Gas prices fall nearly 53 cents in 2 weeks

posted by odell 1308 days ago in USD, Oil, Consumer made popular 1308 days ago

A national survey shows gas prices continue to decline, tumbling nearly 53 cents a gallon in the last two weeks.

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Outlook On Gold: Buying Opportunity and Hedge

posted by odell 1310 days ago in USD, Weekly, Gold made popular 1307 days ago

Perhaps the most interesting development during the intensification of the credit crisis is that the price of gold did not climb higher than it did. Upon the initiation of the crisis in August 2007, the price of gold surged reaching a high of $10

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Financial crisis has one beneficiary: The dollar

posted by odell 1312 days ago in USD, Fundamental, Special made popular 1312 days ago

The great market upheaval of 2008 has stripped 45 percent from the value of global equities, led bank lending to nearly dry up and caused commodity prices to crash from stratospheric heights. And now, paradoxically, it is helping to lift the long

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Analysts: 1 million barrel OPEC cut not enough

posted by odell 1315 days ago in USD, CAD, Oil made popular 1314 days ago

A crude oil production cut of even 1 million barrels per day at OPEC's upcoming emergency meeting is unlikely to reverse slumping prices in the short term, analysts said Sunday, amid mounting calls by several cartel members to take action to keep

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Grocery bill still high? Blame "sticky" prices

posted by odell 1315 days ago in USD, Sentiment, Consumer made popular 1314 days ago

Worries over a global recession have pushed the price of oil to its lowest in over a year. Don't expect the same for a bottle of beer, a tube of toothpaste, or a box of cereal. You can blame "sticky" prices.

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