The US dollar has appreciated steadily against most of its major counterparts this past week (the notable exception being USDJPY). However, the greenback’s rise has been conspicuously reserved.
The Australian dollar was hit hard due to the sharp drops we saw in FX carry trades, and the currency will face event risk overnight. The Australian labor markets started to deteriorate during the second half of 2008, and this is likely to continue through 2009. While we did see a surprise improvement in April, the June results are projected to show that the unemployment rate jumped up to a nearly 6-year high of 5.9 percent from 5.7 percent while the net employment change is anticipated to fall by 20,000
Stocks tumbled Monday morning, as weakness in overseas markets and tumbling oil prices added to concerns about the length of the recession.
GBP experienced downside pressure as risk appetite waned on Monday. Cable fell in Asia and saw good selling early on in the European session to trade at 1.6222 lows, which provided support for EUR-GBP and it traded in to the 0.8600 region
Last I checked, the economy’s still in recession, unemployment is rising, and consumers are having trouble paying their bills. But you wouldn’t know this from looking at what’s going on in the credit card world lately
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Stock gains accelerated Wednesday morning after reports on manufacturing and housing added to bets that the pace of the recession is slowing.
Stock Market Crash: The Dow Jones is encountering major resistance in both time and price, and looks set to resume the selloff to the lows. This video looks at the technical analysis chart and gives the current picture for stock and stock index traders. Asoka Selvarajah is a former investment banking trade strategist with major [...]
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Stocks were mixed at Friday’s open as investors mulled a government report that showed personal income surged — but so did savings, as investors opted to sit out the recession rather than spend.
