Japan’s Exports Still on the Slide
Japan’s exports continue to decline month over month with the pace of loss increasing; when compared to July 2008, exports have fallen 35.5 percent. Slower car sales to the US, Middle East and Russia were blamed for the decline, which followed June’s 35.7% fall. More
US Durable Goods Jumps 4.9%
The US Commerce Department announced today that orders for durable goods for July shot up 4.9 percent – the largest single-month increase in two years and beating expectations of a 3 percent increase. More
Analysts Say Dollar Will Weaken As Global Economy Recovers
As the global economy recovers, investors will begin looking for higher-yielding returns on their investments and this, according to a panel of currency strategists, will create downward pressure on the dollar.
Ã¢â‚¬Å“Investors in the U.S. and globally are sitting in too many T-bills and too much cash,Ã¢â‚¬Â said Rebecca Patterson, global head of foreign exchange at JPMorgan Private Bank in New York. Ã¢â‚¬Å“As the world slowly gets better, they are going to want to take advantage of that. They want a better yield than you get in a T-bill, and that keeps the dollar under pressure.Ã¢â‚¬Â
Increasing German Confidence Boosts Euro
Growing confidence within German companies boosted the euro to 87.82 pence and marked the fifth straight monthly increase in the business sentiment index. More
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