Posted By: CNBC.com Global stocks were mixed Wednesday, a day after US President Barack Obama signed off on the $787 stimulus bill. Experts on CNBC said that although defensives were hot property last year, they are too pricey this year. Read More Topics: Singapore | Europe | Yen | U.S.
The dollar was flat in New York trading Thursday after congressional leaders said they reached a tentative agreement on a financial-rescue bill that approves $700 billion fund. US stocks rallied, but credit spreads like the TED spread remained high, indicating banks do not trust each other
The Dollar shook off the weak fundamental data and advanced on its rivals as US lawmakers announced they were close to a breakthrough on a bipartisan bailout plan. The Dollar-Yen pair rose from its intra-day low near 105.50 to test 107, a 150-pip rally.
The final GDP reading for the second quarter is widely expected to hold steady at 3.3%, but any revisions to the growth figures may spark volatility for the U.S. dollar. The fiscal stimulus plan initiated earlier this year has clearly helped to support economic activity, and the government may be…
The currency market never responds favorably to uncertainty and when a plan is in place and there is hope, relief is expected. This is exactly what we saw in the stock market and the US dollar today, as they both rallied on the announcement of a tentative agreement to Paulson’s…
The dollar was moving higher against the euro, pound and yen while stocks where trading near session highs as investors speculated a deal would be reached on the Treasury’s plan. The White House said “significant progress” had been made ahead of an extraordinary meeting planned between the President, Republican and…
Data released today underscored the global fallout from what began as a U.S.
The U.S. dollar fell today against majors as investors’ confidence rose over the prospects of the biggest bailout plan in the U.S. history to get approved by the Congress, this increased so called carry trades where investors borrow in low yielding currencies and invest proceeds in higher yielding assets, which…
The U.S. housing market continued to display weakness in August as sales of new single-family homes fell 11.5% from 520,000 in July to 460,000 in August. The prior month’s initially reported 515,000 figure was revised up to 520,000.
Risk appetite is slammed across the board on a combination of poor US economic data and negative corporate news.
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