US Economy Contracts, Dollar Weakness May Continue
Gross domestic product contracted less than forecasted in the third quarter according to the US Commerce Department earlier this morning in New York. In the last three months, US economic growth...
View ArticleCentral Bank Rate Cuts Continue, Bank of England Slashes Rates By 1.5 Percent
Surprising the overall market, the Bank of England cut rates by a whopping 150 basis points to 3 percent at the start of the New York morning. The decision places the domestic interest rate to the...
View ArticleGeithner Financial Plan Adds To US Dollar Prospects
USD strength was the theme in the New York afternoon as market participants saw nothing new from the administration’s Financial Stability Plan. Although finer details revealed an expansion of the...
View ArticleEuro, Pound Recover Some Ground, Philly Manufacturing Falters
Beginning in the overnight and continuing throughout the New York session, momentum turned in favor of major currencies trading against the US dollar. Prompting euro and pound support were expectations...
View ArticleMoody’s, Policy Shortfalls Sink Sterling
Moody’s fired a salvo across the bow of the British pound on Friday. The glaring policy inadequacies of the Cameron government started showing up in investor’s minds immediately. Given the sizable and...
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