Crude futures have recovered from intraday lows inflicted by worse than expected U.S. employment data. Rising unemployment and declining consumption should take its toll on demand for crude. Additionally weekly inventories registered a sizable surplus for the second week in a row.
Hong Kong's official foreign currency reserve assets has risen for five consecutive months to $218.1 billion in July, up $11.6 billion on June, the Monetary Authority said on Friday.
China will maintain a "basically stable" yuan at a reasonable and balanced level, Chinese Premier Wen Jiabao said in a reiteration of the country's long-standing description of its exchange rate policy.
China's mainland and Hong Kong are transferring key personnel of its central bank, State Administration of Foreign Exchanges(SAFE) and Hong Kong Money Athority (HKMA), an effort to promote the cross-border yuan trade and accelerate the process of yuan's internationalization.
China's foreign exchange reserves are surging again, which, according to the report of People's Daily Online, helps the Obama administration drag its economy out of a recession by holding a record-high US debt by the end of May.
Hong Kong saw the volume of total goods exports fall 12.6% and that of imports drop 16.2% year on year in May, the Census & Statistics Department said on Thursday, adding that the volume of goods re-exports fell 11.8% while that of domestic exports dived 35.5%.
Given the reputed strong earnings of Goldman & Other US Financial Firms, why won't secretary Geithner commit to no more bailouts?
As US dollar's role as international currency was questioned over the global financial crisis, China began its long-awaited initiative to trade with yuan as a step toward reducing China's reliance on the dollar.
The issue of reserve currencies and the reform of the international monetary regime will probably not take place at the Group Eight Summit (G8) with the so-called Group Five (G5) nations, despite the calls from China and other countries, according to industry experts.
The BP opened lower at 1.4555 after the Confederation of British Industry increased the contraction in the U.K. economy in 2009 to 3.9% from 3.3%. Prices slid to a morning Lo of 1.4496 as pressure from a stronger DX weighed on prices.
The US dollar strengthened against the euro and yen but weakened against a basket of currencies. Data released by ADP this morning showed the private sector cut 697,000 jobs in February, which suggests continued deterioration of the US labor markets.
It's hard to believe that yesterday was the washout it was. The Dow finished with a six-handle for the first time in 12 years and the incessant bad news obeyed definition. On Tuesday, there is a strange air of optimism.
GE – General Electric - Implied volatility on GE has increased today from 110% to 124% as shares dropped like a stone to $7.61. In the middle of Friday trading the company reneged on its promise to maintain its dividend, citing the benefits of capital preservation.
The roof is on fire at HIG after shares sky-rocketed up by over 23.5% to $8.25. But, one investor appears to have jumped the gun today by initiating the sale of over 17,000 calls at the January 2011 7.5 strike price for a premium of 3.90 at which point the tinder was aflame, but the roaring blaze wa...
According to confirmed reports in the media, AmEx is offering some clients $300 to pay down their credit card balance and close their accounts with the company. Investors are in no mood for business model rethinks that lead to lower revenues in this climate and have sold shares in the company 1.9% t...
The dollar is heading back to battling to return to unchanged on the day currently standing at $1.2725 against the euro despite the weakest reading in German business and consumer confidence in 26 years. The Munich-based IFO survey of 7,000 respondents came in at a weaker than expected 82.6 for Janu...
An investor appears to have a pretty good insight on the fortunes or otherwise of merchant services provider, Alliance Data Systems, which was in good company reaching a fresh 52-week low today at $27.83. We had to go back to trading patterns in put options as far as October to see when a 12,500 lot...
The US dollar bounced back after yesterday's brief dip, as risk appetite soured today on concerns over ailing banks and a global recession. Meanwhile, U.S. consumer prices rose 0.3 percent in January for the first time since July due to higher energy costs. However, sluggish economic growth w...
The dollar traded mostly higher against its rivals on Wednesday as US housing starts fell to a record low and President Barack Obama released a 75 billion dollar housing program to stem home foreclosures.
