Broad-based rally in USD pared commodity gains made Wednesday. The dollar surged to 1.434, the highest level in 3 months, as S&P downgrades Greece’s credit rating for the second time this year….
Category: Financial News
RBA’s Tightening Boosts Sentiment. Investors Seek Risks Again
Commodities rally in European morning as RBA’s surprising rate hike suggested global economic recovery is on the way. WTI crude oil price surges to 71.15 while gold price rallies to as high…
Gold Miners Soar on Record Prices
Associated Press Tuesday, October 6, 2009 Record gold prices in New York trading Tuesday sent shares of precious metals miners soaring. A faltering dollar helped kick up the price of gold. Commodities…
Inflation Outlook Fuels Investor Demand for Gold
By Pham-Duy Nguyen, Nicholas Larkin and Kim Kyoungwha Bloomberg Tuesday, October 6, 2009 Gold rose to a record on speculation that currencies will depreciate, spurring inflation and boosting the appeal of the…
Gold Price Reaches Record High
By Chris Flood Financial Times Tuesday, October 6, 2009 Gold prices hit a new record above $1,036 an ounce on Tuesday as the dollar lost ground following reports that the US currency’s…
Absence of Sales Illuminates Recovery Hubris
By Paul R. La Monica CNNMoney Tuesday, October 6, 2009 More and more economists are talking about how they think the economy actually grew in the third quarter. Unfortunately, it might be…
Arab States to Ditch U.S. Dollar-based Oil Pricing
Associated Press Tuesday, October 6, 2009 The dollar fell Tuesday towards year lows against the euro and the yen after a report that Arab states and other countries were contemplating an end…
World Bank Says U.S. Dollar Not the Only Reserve Currency Option
By Glen Somerville Market Watch World Bank President Robert Zoellick said the United States should not take the dollar’s status as the world’s key reserve currency for granted because other options are…
Chicago Fed Index Still Signals Subpar Economy
Wall Street Journal The Federal Reserve Bank of Chicago’s National Activity Index worsened in August, but its three-month moving average rose above its level from a year earlier, in August 2008 just…
Obama Touting U.S. Economy
By Joseph Spector USA Today President Obama visited an Albany-area community college this morning to discuss the economy and promote hi-tech investments as a way to boost business growth in the country….