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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Anticipations of intervention draw down euro

Aug 08, 2012 02:57 PM

Wednesday saw the common currency of the European Union edge down against the U.S. dollar as market participants kept a watch on worldwide central banks, Reuters reports.

While the sovereign debt crisis continues attacking 17-bloc euro zone nations and global development slows, investors, analysts and traders are watching the European Central Bank and the U.S. Federal Reserve for hints of intervention techniques. ECB President Mario Draghi last week said reducing borrowing costs in Spain and Italy is a task on his plate.

"We think there will be a reality check in time," senior economist Sarah Hewin with Standard Chartered Bank in London told Reuters. "Any action from the ECB is really reliant upon euro area governments first taking action. And indeed countries that require assistance will have to ask for a bailout, so there are many steps before you get to the ECB moving in to buy bonds."

Ben Bernanke, chairman of the U.S. Federal Reserve, is believed to be considering a third round of quantitative easing to spur the world's largest economic system.

Bloomberg reports the euro also fell in value against the Japanese yen in the aftermath of a report stating industrial production in Germany fell in June.

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