Irish economy received little respite this week when the International Monetary Fund (IMF) said it is not too optimistic about the Ireland economy. And, this has come as a huge repite for the sliding gold prices on Thursday.
With more and more bad economic news emanating from Europe, the gold prices have slowly started picking up the lost rhythm this week.
Oil reversed early losses on Thursday to head back toward $77 a barrel as signs of a stronger recovery in Germany soothed investor concerns, but rising U.S. inventories kept prices in check.
The yen neared a 7-1/2-month high and Asian stocks slid on Thursday after comments by the head of the Federal Reserve added to concerns about the U.S. economy, causing investors to dump riskier assets ahead of European bank stress test results.
Oil slid for a second day on Thursday, a day after Fed chief Ben Bernanke rekindled unease across financial markets over the pace of economic recovery, while rising U.S. inventories also kept prices in check.
Oil slid for a second day on Thursday, a day after Fed Chairman Ben Bernanke rekindled unease across financial markets about the pace of economic recovery, while rising U.S. inventories also kept prices in check.
The yen neared a 7-1/2-month high and Asian stocks slid on Thursday after comments by the head of the Federal Reserve added to concerns about the U.S. economy, causing investors to dump riskier assets ahead of European bank stress test results.
Gold slipped more than half a percent on Thursday and could revisit its weakest level in two months as investors sold bullion to cover equities losses ahead of Europe's bank stress test results this week.
Gold has fallen more than 6 percent since hitting a lifetime high around $1,264 an ounce in late June on worries the debt crisis in Europe would spread.
Now, will Ireland help gold prices go up? It seems so. When Dubai economic crisis unraveled, gold prices zoomed. When Greece economic tragedy came to the light, gold prices soared.
Now, Moody's Investors Service downgraded Ireland one notch, to Aa2 from Aa1, although it remained comfortably above junk level. Moody's also changed the outlook on the ratings to stable from negative.
The yen neared a 7-1/2-month high and Asian stocks slid on Thursday after comments by the head of the Federal Reserve added to concerns about the U.S. economy, causing investors to dump riskier assets ahead of European bank stress test results.
Asian stocks slipped and the yen rose on Thursday after comments by the head of the U.S. Federal Reserve added to concern about the U.S. economy and left investors uneasy ahead of European bank stress tests.
Three telecoms firms have subscribed to a new undersea cable linking Nigeria and West Africa to Europe, paving the way for a transformation in internet access in Africa's fastest-growing telecoms market.
Moody's cut Ireland's credit rating on Monday, warning the country still faces a slow climb out of recession after nearly two years of austerity as the cost of rescuing its banking sector mounts.
Corrects quote in 2nd paragraph from end of story to include attribution to Commerzbank
A drop in consumer confidence in Europe amid worries about the region's debt crisis is holding back a recovery in global consumer sentiment and weighing on the broader economic outlook, a survey showed on Sunday.
Analysts say further dlr weakness may be short-lived
Euro's outlook improved by break above Ichimoku cloud
Option structures at $1.3000 hampering further euro gains
The AUD has opened slightly stronger this morning as ongoing concerns about the recovery in the US economy weakened the USD.
The U.S. dollar fell broadly on Thursday, with the euro soaring to a two-month high above $1.29 as soft inflation and manufacturing data added to concern about the strength of the U.S. economy.
Data showing a third straight monthly decline in producer prices came a day after Federal Reserve meeting minutes revealed policymakers think they may need to do more to boost the economy if a sputtering recovery slows any further.
The dollar hit a two-month low against the euro and a basket of major currencies on Thursday as soft inflation and manufacturing data added to concern about the strength of the U.S. economy.
Data showing third straight monthly decline in producer prices came a day after Federal Reserve meeting minutes revealed policymakers think they may need to do more to boost the economy if a sputtering recovery slows any further.
Gold thrives on tragedies. And, it has proved once again that any economic crisis will help gold rise. This is the turn of Portugal, which is facing economic crisis like Greece.
As the news spread about Portugal's economic woes, gold prices surged on Monday and Tuesday.
World stocks hit a three-week high on Wednesday while government bonds fell broadly after Intel's forecast-beating quarterly results raised expectations of strong corporate earnings in the second quarter.
Euro holds near 2-mth highs on easing debt concerns
Resistance seen at $1.2767 and then at $1.2780
Aussie holds previous day's gains, U.S. earnings help
World stocks hit a three-week high on Wednesday while government bonds fell broadly after Intel's forecast-beating quarterly results raised expectations of strong corporate earnings in the second quarter.
