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.

Oil prices at eight month high - June 12, 2009 10:46

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 - June 10, 2009 8:52

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 - June 5, 2009 14:15

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 - June 3, 2009 5:26

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 - May 29, 2009 11:47

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.

Fading dollar loses steam against Yen - May 27, 2009 7:47

The dollar has become so weak again that it has begun to fade even against the lowly Yen. The greenback and the Japanese currency seem to be effectively fighting for the label of least desirable currency at the moment. One dollar is currently (May 26) netting 95.40 Yen.