Archive for August, 2008
Euro Falls to Six Month Low
A report released today shows that German business confidence dropped further than economists expected, pushing the euro to a six month low against the dollar.
Alan Ruskin, head of international currency strategy in North America at RBS Greenwich Capital Markets Inc. in Greenwich, Connecticut said “the market is coming around to the view that the extremely [...]
UK Subprime Mortgage Arrears Rising
According to research carried out by Moody’s, the proportion of UK subprime mortgages falling into arrears has jumped to 10 per cent.
The research highlighted the difficulty facing UK home owners, as the economy slows down and more and more home owners struggle to repay mortgage loans.
[Moody's] found that the number of mortgages in arrears has [...]
Fed Expectations Fuel Greenback Gains
The US dollar gained against the euro today on speculation that the Federal Reserve will reiterate the need to curtail inflation whilst sitting tight on the benchmark interest rate later today.
According to Michael Woolfolk from Bank of New York Mellon, “the market is looking for any excuse to buy the dollar. Lower crude oil is [...]
Canadian Dollar Set to Fall?
In 2007, the Canadian dollar reached parity with the US dollar, marking a significant point after 30 years of trading lower against the USD.
The Canadian dollar has also seen strength due to the countries high value commodities, including large oil reserves, copper and lumber - however now many experts are predicting a fall of up [...]
