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US Dollar Dips Against Euro, British Pound

Euro heads higher against dollar to $1.4268 in European trading The dollar dropped against the euro and the pound on Monday amid fears that upcoming reports on U.S. manufacturing and housing would be bleak.In morning European trading Monday, the 15-nation euro rose to $1.4237 after closing at $1.4067 in New York late Friday.The British pound also gained ground, rising to $1.4744 in Monday trading... [read more]

U.S. Retail Holiday Sales Plunge

Despite massive price-cuts in an attempt to save the holiday shopping season, 2008 proved to have the worst holiday retail sales in decades amid decreasing consumer spending. As American consumers curb spending due to the recession, climbing unemployment, and tightening credit conditions, sales dropped by 2.5 percent in November and 4.0 percent in December (through December 24), according... [read more]

Dollar Mixed Against Rivals

The U.S. dollar fell against its major trading partners Wednesday as investors digested a barrage of economic data ahead of the holiday.The euro edged higher against the dollar to trade at $1.4006, from $1.3950 late Tuesday in New York.The British pound remained weak against the dollar at $1.4752 from $1.4759. The pound fell sharply in the previous session after the U.K. government reported that... [read more]

US Dollar Plummets as US 10-Year Treasury Yields Hit Record Lows

A massive flight to quality has left US 10-Year Treasury Bond Yields at their lowest levels on record—further emphasizing extreme risk aversion in global financial markets. Banks and other financial entities unwilling to lend to one another have desperately sought safe haven for funds, and US Government debt has largely been the instrument of choice for many investors. Such flows have not resulted... [read more]

China Tells US to get Economy in Order

China appeals to Washington to reform economy, protect Chinese assets at high-level talksChina promised more currency reform to ease trade tensions but told Washington to get its own economy in order as the two sides opened high-level economic talks Thursday amid a global financial crisis.The unusual Chinese appeal at the Strategic Economic Dialogue highlighted the close links between the world's... [read more]

Yen Technical Outlook

Staying bearish the USDJPY has proved a wise decision although the decline over the last month has been choppy. As long as price remains below 96 (below the resistance line from early October), bearish potential is significant (below 80).Another reason to stay bearish is that the USDJPY is not ‘acting’ as it has at recent bottoms. Turns usually occur with a price spike (notice indicator... [read more]

ForexGen | Lockheed Martin Gets $180 Million Air Force Deal

Lockheed Martin gets $180 million Air Force contract for more F-22 fighter jetsLockheed Martin Corp., the nation's largest defense contractor, received a contract from the Air Force worth up to $180 million to buy four more F-22 fighter jets, the Pentagon said late Wednesday.The deal comes with an option to buy an additional 16 aircraft. So far, only $49 million has been committed to the program... [read more]

ForexGen | China Downturn Deepens

China warned on Thursday its economic downturn was deepening and pressure grew on the European Central Bank (ECB) to make a big cut in interest rates to help contain the global financial crisis.In India, emerging Asia's other economic titan, financial markets were closed after Islamist militants killed more than 100 people in the commercial capital Mumbai.Violence in India and political unrest... [read more]


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