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LiveWire Economics Blog - March 11, 2010 10:57
Oil hits highs and pulls back.
Crude oil prices cruised to their highest level of 2010 Wednesday (March 10) morning, before quickly reversing, as speculators consider new data on the level of crude supplies released by the Energy Information Administration.
Pound down against dollar, Euro in trouble
The British Pound has dipped below $1.52, currently (February 26) trading at below $1.5. This is the lowest level for the British currency against the dollar since mid-May 2009.
Oil prices climb after Bernanke speaks of low interest rates
The dollar has been firming up in the last several weeks, thanks in large part to growing expectations of a tighter monetary policy leading to higher interest rates. Federal Reserve Chairman Ben Bernanke tried to reassure Americans and quash some of those assumptions with his comments to Congress about the economy Wednesday (February 24).
Gold prices soar past $1,100
Gold prices have been on the rebound in the last two weeks after touching a near-term low at price on February 5th of $1,052.25. With a current (February 17) gold spot rate of $1,114.70 per ounce, the commodity has increased in worth by over $60 in 12 days.
Dollar gains on January retail report but economic concerns grow
The US Commerce Department reported Friday (February 12) morning that January retail sales grew by .5 per cent, which was higher than the .3 per cent forecasted by analysts. Wal-Mart and other big department stores were seen as the major catalyst for the growth, which suggests a more conventional increase in consumer spending on retail […]
Dollar gains against major currencies, commodities
The dollar has grown stronger to start this week, gaining ground against most major currencies and commodities, the Japanese yen, being the prominent exception.
Gas prices falling in line with oil prices
While declining oil prices over the last week have not necessarily caught the attention of consumers as much as they have speculators and impacted businesses, falling gas prices have. Friday (January 22) marked the seventh consecutive day of falling fuel prices with the current national average at $2.73, according to Wright Express and the Oil […]
Oil falls below $79 on strong dollar
As the dollar has rebounded from some recently disappointing jobs news, it has pushed back against recent gains in oil prices and gold prices. A barrel of oil fell below $79 in Friday (January 15) morning trade on the New York Mercantile Exchange.
Dollar struggles again after latest job, housing news
Exchange rates have not been favorable for the US dollar in the early part of the week as the greenback has been hit again following disappointing news of late on the job and housing sector fronts.
Gold price spikes as jobs disappoint
Just when it appeared that the gold price was ready to reverse its long-running and fast-paced upward trend, speculators have begun to jump back in. After falling to a 60-day low of $1,080.50, the price of gold reached its highest point in just over a month at the close of New York trade on January […]
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