Euro and pound gaining legs - July 21, 2009 9:51

After taking brief dips against the dollar, the major European currencies have surged again in the last week. The Euro has bounced firmly after dropping to just below $1.40 on July 15th. One Euro is currently (July 20th) worth $1.4207, after trading near $1.425 earlier in Monday trade. The British Pound now fetches $1.6504 after […]

Bank struggles over? - July 17, 2009 14:53

It might be a stretch say that the finance and credit sectors are completely out of the troubled economic woods at this point, but two strong earnings reports Wednesday morning surprised the market. Citigroup and Bank of America both impressed – Citi with the fact that it earned a profit, and BoA because of the […]

Swiss-Bank Gold Vaults “Room Out of Room” - July 17, 2009 9:02

THE PRICE OF GOLD slipped 0.7% early in New York on Thursday, repeating an earlier drop to $935 after gaining $30 an ounce so far this week.

Economic reality check brings oil back near $60 - July 8, 2009 9:14

As economic data continues to validate the notion that the recovery will take time to develop and play out, speculators that had begun to jump back into the oil market are starting to back off. Oil has quickly dropped toward the $60 level after reaching near $75 late in June.

What to do with gold - July 1, 2009 14:23

Just as the stock market has been stuck in the mid-8,000 range over the past few weeks, the gold spot rate has been hanging around the $930 per ounce price point for a while. Despite a couple modest swings, gold has traded in a very narrow range between $920 and $940 since it dropped significantly […]

Retail on the rebound - June 26, 2009 9:51

More and more sectors are lending evidence to support the call by Fed Chief Ben Bernanke and others of an economic recovery for the last half or 2009. On Thursday (June 25), it was the retail sector’s chance to shine. Despite a surprisingly lower jobless claims report, positive earnings reports and optimism from retailers helped […]

Oil back below $70 - June 24, 2009 8:49

Oil peaked above $73 per barrel last week, but prices have dropped steadily, with a strong fall below $67 Tuesday (June 23). Expiring crude for July delivery expired on Monday, with speculators pushing rates down $2.62, to settle at $66.93. US crude for August delivery also quickly dipped to the $67 per barrel level.

US dollar struggles to gain ground on yen - June 19, 2009 17:11

As part of its overall weakness, the US dollar is having a difficult time piercing the 100 yen level. After topping the century mark in early April, and then again in early may, the greenback has steadily fallen back from the level. In mid-May, one dollar was worth 94 yen. After a modest bounce, in […]

Euro fails above $1.40 - June 17, 2009 12:11

After a roughly two week stint flirting mostly above the $1.40 level, the Euro has fallen back to a current rate at $1.3834 (June 16). The Euro has steadily dropped from a peak over $1.43 on June 2nd. It has operated on a downward progression from the $1.40 level for the last three days.