LiveWire Economics Blog
LiveWire Economics Blog - July 1, 2009 14:23
What to do with gold
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
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
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
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
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.
Oil prices at eight month high
July crude oil traded up $1.35 on Thursday (June 11) to settle at $72.68 per barrel, after reaching as high as $73.23 during the New York trading day. The leading catalyst for the jump was the latest jobless claims report that shows that first time jobless claims dropped, a sign that perhaps the worst of […]
Mortgages not so cheap anymore
Late last year, when mortgage rates dipped to the low five per cent level, it seemed like a once in a lifetime opportunity for buyers to get in on a great home loan discount. Today’s (June 9) 5.56% national average interest rate on a 30-year fixed loan (according to bankrate.com) is likely disappointing to people […]
Bank stocks in wait-and-see mode
Financial company stocks have traded in a very narrow range over the last several weeks. Following the massive sell-off that drove many stocks to all-time low prices, shares of financials led the way for the two month stock rally that began after the Dow dropped to nearly 6,500.
Housing market on the rise
Pending home sales climbed 6.7 per cent in April, which is the highest single monthly jump in about eight years. Pending sales are deals made by a buyer to close on a previously owned home.
Oil closes above $65
Crude oil reached a new high price point for 2009 after clearing $65 per barrel. A combination of news that OPEC was maintaining production levels and data suggesting more hope for the US economy helped spark a $1.63 gain as trade on the New York Mercantile settled at $65.08.
Most Popular Content
- Copper Finds Its Footing as Market Sentiment Improves
- S&P 500 Grinds Higher as Rate Cut Hopes Simmer
- Bitcoin Holds Near $120K as 401(k) Buzz Meets Inflation Jitters
- Pound Climbs on BoE Cut and Dovish Signals
- Gold Soars on Tariff Shock as Copper Holds Steady
- Markets Wobble After Highs as Fed Holds Steady and Earnings Send Mixed Signals
- Copper Prices Drift in the Wake of a Surprise Tariff Shock
- Gold Prices Retreat from Highs Amid Easing Geopolitical Tensions