Archive for December 19th, 2008
U.S. Recovery Will Come at Dollar’s Expense, McCormick Says
By Thomas R. Keene and Michael J. Moore
Dec. 18 (Bloomberg) — The dollar may continue to weaken even if the U.S. economy recovers early next year, Citigroup Inc.’s Jim McCormick said.
Posted: December 19th, 2008 under News.
Tags: Dollar, Euro, Federal Reserve, Global Economy, Global Recession, U.S. Recovery
Comments: none
Australia, New Zealand Dollars Sink on GE Outlook, Global Slump
By Candice Zachariahs
Dec. 19 (Bloomberg) — The Australian and New Zealand dollars dropped as equities fell after General Electric Co.’s debt-rating outlook was changed to negative, prompting investors to shun higher-yielding assets.
Posted: December 19th, 2008 under News.
Tags: Australia dollar, bank of Japan, Commonwealth Bank of Australia, General Electric Co., Global Economy, Institute of International Finance, New Zealand Dollar, The Reserve Bank of Australia
Comments: none
Euro Will Fall 10% Versus Dollar in 3 Months, UBS, Barclays Say
By Garfield Reynolds and Candice Zachariahs
Dec. 19 (Bloomberg) — The euro will fall about 10 percent against the dollar in the next three months as demand for safety and economic weakness in Europe boosts demand for the U.S. currency, UBS AG and Barclays Capital said.
Posted: December 19th, 2008 under News.
Tags: Barclays, Dollar, Euro, European Economy, Federal Reserve, Global Rates, Global Recession, The Fed, UBS, Yen
Comments: none
Canadian Dollar Falls From One-Month High as Crude Oil Drops
By Chris Fournier
Dec. 18 (Bloomberg) — Canada’s currency fell from a one- month high after crude oil dropped below $37, reinforcing speculation that currencies related to commodity prices may decline against their peers.
Posted: December 19th, 2008 under News.
Tags: Canadian Dollar, Crude Oil Price, Federal Reserve, Global Economy, Global Recession, Price Index, The Bank of Canada
Comments: none
Yen Declines Against Euro After BOJ Lower Rates to 0.1 Percent
By Stanley White
Dec. 19 (Bloomberg) — The yen fell against the euro for a fifth day after the Bank of Japan lowered borrowing costs to 0.1 percent from 0.3 percent and said it will buy commercial paper to help unlock credit markets.
Posted: December 19th, 2008 under News.
Tags: bank of Japan, BOJ, British Pound, Dollar, Euro, Global Recession, South Korean won, Yen
Comments: none






