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
The World Bank is seeing a surge in demand from borrowers seeking the Bank’s expertise to mitigate currency and interest rate risk.
more »
The European Commission has approved under EU state aid rules a Lithuanian package intended to stabilise the markets as a response to the global financial crisis.
more »
Total cereal production in 2010 should be close to the average from the last five years. While the yield per hectare will be 5% above average, overall cultivated areas have decreased.
more »
According to the unaudited data, AB Bank SNORAS profit prior to provisions and tax exemption within the first half of this year comprised LTL 51 million, the bank formed almost LTL 48 million provisions.
more »
The European Commission today approved two applications from Denmark for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Investment Bank today signed two loans for a total amount of EUR 150 million in support of small and medium-sized enterprises (SMEs) in Turkey.
more »
On 23 July 2010 the Board of the Bank of Lithuania permitted Bank SNORAS to register a change to the articles of association related to the increase of the authorized capital of the bank by LTL 82.3 million up to LTL 494,217,107.
more »
Heads of State and top officials from the Central American Integration System and World Bank Group President, Robert B. Zoellick, agreed to join efforts towards regional cooperation and integration and adopted a comprehensive agenda that includes an action plan with more than 20 specific measures.
more »
The Executive Board of the International Monetary Fund (IMF) today approved the full cancellation of Haiti’s outstanding liabilities to the Fund, of about SDR 178 million (equivalent to US$268 million).
more »
The Executive Board of the International Monetary Fund (IMF) today completed the third review of Latvia's performance under an economic program supported by a Stand-By Arrangement (SBA).
more »