Created in 1973 after the disbanding of the Bretton Woods system, the US Dollar Index is comprised of the exchange rates of the EuroFX, Canadian Dollar, British Pound, Japanese Yen, Swedish Krona and Swiss Franc. Its highs have taken us to around 160 and the lows about 70. During these times of record high unemployment,… Read more.
Reports in the Wall Street Journal and elsewhere suggested that the size of the quantitative easing package put forth by the Federal Reserve may not meet investors' expectations. Their disappointment put pressure on precious metals futures, where investors had been counting on a large monetary stimulus and subsequent inflation to drive up the price of… Read more.
Traders backed away from precious metals as well as base metals on Wednesday, as the day of reckoning – the Federal Open Market Committee meeting – draws ever closer. "The longer-term question will be on how much of the Fed’s action has already been priced in," Tom Pawlicki, an analyst at Chicago's MF Global Holdings,… Read more.
Financial markets were consumed this week with talk of quantitative easing – the prospect that the Federal Reserve will buy assets to pump liquidity into the economy and stimulate economic recovery. Also called monetary stimulus, QE is often thought of as "priming the pump." Once the money is injected, the theory goes, it will drive… Read more.
Stock index futures around the world surged on Tuesday morning, driven by renewed prospects for global growth and strong monetary stimulus from the Bank of Japan, which pledged to maintain its benchmark interest rate near zero. The Japanese central bank will also create a fund to buy 5 trillion yen ($60 billion) worth of government… Read more.
Gold and silver futures jumped again on Wednesday, with commodity futures brokers and traders betting heavily that the Federal Reserve will once again engage in quantitative easing to push more liquidity into the faltering U.S. economy. Comex gold futures for December 2010 delivery gained $3.90 to $1,312.20 per troy ounce; earlier, the contract rose as… Read more.
Investors eyed both falling home prices and new Irish and Portuguese debt auctions which increased the cost of borrowing for those euro-zone countries – but before the markets opened on Tuesday, U.S. stock futures were still positive. In the U.S., the big news was housing prices – the S&P/Case-Shiller index of property values rose just 3.2… Read more.
Stock index futures rose after the markets closed on Thursday evening and the Senate announced the passage of a bill targeted at creating jobs by boosting small businesses around the country. Dow Jones Industrial Average index futures jumped 8 points to 10,554.00 at 6:09 p.m. EST, while Nasdaq 100 index futures rose 4.75 points to 1,954.50 at… Read more.
Unemployment data delivered a modest boost to investors' economic sentiment, as the U.S. Department of Labor's weekly jobless claims figures dropped slightly. For the week ended September 4, the advance seasonally adjusted claims figure came in at 451,000, down 27,000 from the previous week. In addition, the Federal Reserve's twice-quarterly Beige Book report found that… Read more.
Stock index futures in the U.S. and abroad seemed to ignore some disappointing data about the American housing market and focused on other signs of potential recovery in the global economy. The Japanese government indicated that it might engage in some stimulus to help buoy the stagnant economy, and U.S. manufacturing rose by 1 percent… Read more.