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Entrepreneur Forum > Entrepreneur - Other Ways to Make Money > Stock Market and Commodities Trading

Euro higher against dollar in 2008

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Topic: Euro higher against dollar in 2008 (Read 242 times)

Offisklit

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United States

Mar 22, 2008, 11:25:05 PM

Dollar Registers Biggest Weekly Decline This Year Against Euro
Feb. 15 (Bloomberg) -- The dollar posted its biggest weekly loss this year against the euro as a decline in New York manufacturing and tumbling consumer confidence added to concern that the U.S. economy is headed for a recession.
...The yen posted a gain against the dollar during most of New York trading as U.S. stocks dropped. Japan's currency then pared its advance against the dollar as the Standard & Poor's 500 Index trimmed its loss. The index ended up 0.08 percent, after losing as much as 0.8 percent earlier...
...Foreign demand for U.S. securities waned in December. International investors bought a net $56.5 billion of U.S. securities that month, down from an addition of $90.9 billion the prior month, the Treasury Department said today...
...The New York Fed's general economic index fell to minus 11.7 this month, from 9 in January, the bank said, signaling a contraction for the first time in almost three years. The Reuters/University of Michigan index of consumer sentiment dropped to 69.6, the lowest since 1992, from January's 78.4...
The U.S. data ``was much softer than expected and that's fostered a bit of risk aversion,'' said Daragh Maher, a senior currency strategist in London at Calyon, the investment-banking arm of Credit Agricole SA, France's second-largest bank by assets. ``The impact has been felt by the funding currencies like the yen.''
Dollar Falls as Housing Reports May Bolster Case for Fed Cuts
Feb. 19 (Bloomberg)The dollar fell to $1.4742 per euro, the lowest since Feb. 5,
and traded at $1.4726 as of 8:45 a.m. in London,
from $1.4658 in New York yesterday.
U.S. Dollar Falls Below 100 Yen; at 1995 Levels
Mar. 13(NPR)The euro exceeded $1.56 for the first time, and the dollar fell as low as 99.75 yen, before bouncing back to 100.16 yen. It was the first time the U.S. currency has traded below 100 yen since November 1995...
Dollar Falls on Speculation Housing Slump to Swell
Mar. 19 (Bloomberg) The dollar fell against the euro, erasing most of yesterday's gains, on speculation the worst U.S. housing slump in a quarter of a century will swell credit-market losses.
The currency weakened against the Japanese yen and the Swiss franc after Bank of America Corp. predicted the Federal Reserve will lower its target rate by another 75 basis points this year following a reduction to 2.25 percent yesterday. Reports this week on U.S. mortgage demand and manufacturing will probably show the economy is slowing.
...Morgan Stanley, the second-biggest U.S. securities firm by market value, will report a 57 percent drop in first quarter earnings today due to a decline in fees for advisory work and underwriting, according to a Bloomberg survey...
...``More and more Americans are going to walk away from their mortgages, and that's going to undermine the foundations of these banking institutions,'' Stiglitz, a professor at Columbia University, told Radio New Zealand today from Auckland...
...Dollar sales by Japanese individual investors on the Tokyo Financial Exchange Inc. rose to a record high on speculation the U.S. economy will suffer a recession...
The securities firm is likely to join Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc. in reassuring investors it has ample cash reserves. Morgan Stanley reported the first loss in its history last quarter.
``Should their earnings fall short of analysts' estimates, this may again trigger stock-market declines and yen appreciation,'' Tohru Sasaki and Junya Tanase, currency strategists in Tokyo at JPMorgan Chase & Co., the third-largest U.S. bank, wrote in a research note today.