South Pacific currencies dropped in value Monday, the first trading session following the Group of 20 meetings' adjournment in Paris after two days of meetings ended on Saturday, according to published reports. Bloomberg reports both the Australian and New Zealand dollars slipped but not as much as they could have due to Asian stocks resuming… Read more.
Officials with Group of 20 nations at the summit in France lent support to plans to resolve the sovereign debt crisis, which pulled down the Japanese yen, according to Bloomberg. As European stocks increased in value, safe-haven investment assets like the yen lost value to the dollar as the Japanese monetary unit approached its lowest… Read more.
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Aussie weather to push down price of wheat Forecasts for pleasant weather in Australia helped push down the price of wheat to its lowest value in 14 days, Bloomberg reports. Dry weather in high-grain production regions in the globe's fourth-largest exporter will very nicely complement the recent sprinkling of rain, according to meteorologists. Much of… Read more.
The price of gold edged up again on Tuesday, driven by a falling dollar. On the Comex in New York, gold futures for December delivery briefly reached $1,231.10 per troy ounce, the highest price since July 1, reported Bloomberg News. Equities also had a positive day, with the major indexes up 1 to 2 percent.… Read more.
The dollar sank on Thursday against the euro, British pound and Australian dollar, as investors reacted to strong equity markets and the words of Ben Bernanke. The chairman of the Federal Reserve spoke to Congress on Wednesday, and his tone was grave and cautious. He warned that the future of the U.S. economy appeared “unusually… Read more.
CME Group and Dow Jones Indexes announced Tuesday the launch of a new index called the Dow Jones CME FX$INDEX, which they say will give futures brokers and traders a more efficient way to trade global currencies against the U.S. dollar. The index represents the value of the dollar as compared to a basket of… Read more.