The dollar was basking on Friday in the afterglow of US figures which rekindled expectations of a pick-up in the world's biggest economy later this year
Published:
19 July 2003 y., Saturday
The single European currency stood at $1.1208 against $1.1203 late on Thursday in New York, some way below an all-time high point of $1.1933 reached in late May.
The dollar traded at 119.08 yen from 118.78 on Thursday. "Although the earnings season has checked the equity market rally for now, alleviating some of the pressure on fixed income markets, in general the macro backdrop continues to evolve in a dollar positive fashion," said Steve Pearson, economist at British bank HBOS.
Prospects of a US economic recovery appeared to brighten after a closely watched index from the Philadelphia Federal Reserve Bank showed on Thursday a sharp improvement in activity in the US manufacturing sector in the Philadelphia region.
But losses on US stock markets dulled some of the dollar's shine as dealers picked over a feast of corporate news.
New York's Dow Jones industrials dipped 0.5 per cent on Thursday while the tech-heavy Nasdaq plunged 2.9 per cent. And Commerzbank strategist Nick Parsons said it was too soon to declare an end to the dollar's downturn. "The question everyone is asking is whether this is the end of the 18-month bear market.
Šaltinis:
jang.com.pk
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An International Monetary Fund mission led by Mr. Paulo Drummond visited Bissau during January 12-27, 2010, to discuss the government’s medium-term economic program that could be supported by the IMF under the Extended Credit Facility.
more »
The International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) have agreed to support US$1.9 billion in debt relief for the Republic of Congo, which includes US$255.2 million of debt relief from the two institutions.
more »
In 2009, net external assets of Monetary Financial Institutions remained negative but increased by LTL 9.3 billion.
more »
Spain's Minister for Science and Innovation, Cristina Garmendia, supports making R&D+i at the heart of Europe as a key to economic recovery.
more »
Lithuania and Malta granted reprieve on budget deficits; Hungary and Latvia on track to meet deadlines.
more »
More responsibility for fishermen, rules favouring good fishing practice and adjusting fisheries management models to complement and improve the traditional quota system should be among the key aims of common fisheries policy reform, say MEPs in an own-initiative report approved by the Fisheries Committee on Wednesday.
more »
On January 8, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Yemen.
more »
On January 22, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Norway.
more »
Agriculture can help to slow climate change, but should be ready to adapt to the impact of global warming, said Agriculture Committee MEPs and scientists at a public hearing on Wednesday.
more »
The Ministers for Employment of the European Union are holding an informal council on Thursday 28 and Friday 29 January which will lay the foundations for drawing up the common policies in the area of employment which the European Union will adopt over the next ten years as part of the “2020 Strategy”.
more »