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Congress is taking the final steps needed to raise the national debt ceiling from its current $12.1 trillion to make room for more borrowing.
Investors left the safe haven of the dollar Monday as Dubai's $10 billion bailout eased worries over global credit problems, while the euro rose despite anxiety about government debt and credit in euro-zone nations Greece and Spain.
McDonald's Corp. will begin selling a variety of breakfast items for $1 early next month, a spokeswoman for the world's largest hamburger chain said Thursday.
Investors left the safe haven of the dollar Monday as Dubai's $10 billion bailout eased worries over global credit problems, while the euro rose despite anxiety about government debt and credit in euro-zone nations Greece and Spain.
The dollar rose Monday to its highest level since the first week of November as last week's U.S. jobs report fed traders' expectations of higher U.S. interest rates.
The dollar fell briefly to its lowest level in 14 years against the Japanese yen Friday but rallied against the euro and other currencies as Dubai's debt problems roiled currency markets.
The safe-haven dollar further strengthened Friday and Treasury yields hovered around their lows for the year as worries about the economy in 2010 diminished traders' appetites for risky bets.
In his visit to Beijing this week, President Barack Obama is expected to tread lightly when pressing China to let its currency rise against the dollar.
The dollar mostly declined Wednesday, with the euro bumping up near $1.50 as a Federal Reserve official said in a speech that interest rates could possibly not rise until 2012 from their current record low near zero — if the Fed acts as it has before.
The euro pushed back up above $1.50 Monday after finance ministers from the Group of 20 rich and developing countries steered clear from addressing the weakness of the U.S. currency against most of its competitors at a meeting over the weekend.
The dollar dropped to a new 15-month low as the the euro rose above $1.50 Wednesday morning, even as Treasury Secretary Timothy Geithner reiterated the administration's stance that a strong dollar is good for the U.S. economy.
The dollar declined ahead of an expected announcement from the Federal Reserve this afternoon that interest rates are likely to remain near zero.
The dollar was choppy in Tuesday trading after mixed reports showed consumers' confidence dropping unexpectedly this month, while home prices in 20 major metropolitan markets rose for the third straight month in August.
The dollar slid to a 14-month low against the euro Wednesday as investor appetite for risk increased following upbeat comments from Intel Corp. and after a top Federal Reserve official indicated U.S. interest rates would likely remain low for a quite a while.
The dollar recovered Tuesday as weak U.S. economic data tempered better-than-expected earnings results from big American companies. The dollar had fallen earlier to a 14-month low in overseas trading against other major currencies.
The dollar was mixed Monday as investors looked ahead to third-quarter earnings reports for more clues on the state of the global economy.
Investors fled to the safe haven of the dollar Thursday as unsettling reports on manufacturing and the labor market overshadowed good news on housing and consumer spending.
The recent drop in the value of the dollar has been a good thing for U.S. exporters. But if the currency falls too far, the consequences could be serious. The Answer Desk, by John W. Schoen.
Treasury Secretary Timothy Geithner says the United States has a a special responsibility to preserve the role of the dollar as the world's primary reserve currency.
The federal tax credit for first-time home buyers has given the ailing housing market a shot in the arm. Will Congress extend it? The Answer Desk, by John W. Schoen.
The dollar hit a fresh 12-month low, then bounced back a bit in later trading as the Federal Reserve left interest rates at a range near zero, saying it will keep them there for a long time amid gradual improvements in the economy, and did not announce any new liquidity measures.
The dollar hit another annual low against the euro Thursday as strong economic data added to evidence the recession has ended, pushing traders to risker assets.
The dollar continued its slide to fresh annual lows against the euro Thursday as investors felt confident to leave the safety of the American currency.
The euro fell slightly against the dollar Friday as more economic signals continued to point upward.
The dollar slipped slightly Wednesday on reports that productivity jumped and employers are cutting fewer workers, though layoffs are likely to continue.
The Growing Job Threat: Falling Dollar Pushes Manufacturing Out of EuropeProduction jobs have been moving out of Europe for years. But as the Daimler decision last week to move C-Class production to the US shows, the process is accelerating as the dollar becomes weaker.
Gold Falls Most in a Year as Dollar Rally Spurs Investor Sales Dec. 4 (Bloomberg) -- Gold dropped the most in a year as a rising dollar prompted some investors to sell bullion on the heels of a rally to an all-time high.
Gold price slumps as dollar strengthens The gold price has slumped after surprisingly good US unemployment data sent the US dollar higher, making gold a less attractive investment. Gold fell more than $65, or 5%, to $1,161.4 an ounce, down from a record high of $1,226.56 in early trading.
We have seen all too often where the financial markets collapse and rise in dramatic fashions. The problem for most investors over the past few years is that they did not know when to get out of the market, and conversely, did not know when to get back in.
David Rosenberg: Buy The Gold Dips, Cause It's Only Going HigherExcellent article on what is going to happen with Gold due to the falling dollar. If we Americans think stuff is costly now wait untill the hyperinflation comes, Buy Gold and silver soon
Competitive devaluations threaten a trade warI'm beginning to hear calls in the local (French) press for EU tariff action, if China refuses to re-evaluate the renminbi.
Wen labels renminbi pressure 'unfair'China will not move unless pushed. It is time to push.
We must get ready for a weak-dollar worldThis is about as simple and straightforward an analysis as I have seen. And brutal.
Greece can expect no gifts from EuropeKeeping the Euro strong, despite the prodigality of some countries... I suppose that the Fed has the same sort of problem, with different states maintaining different budget strategies.
Rebuff for EU in push for strong renminbiThe Chinese are imperturbable. The Euro is at $ 1,499 this morning.
This morning, like every morning, I checked the exchange rate between the US dollar and the Euro. My wife and I are traveling to the States at Christmas, so this is of very direct interest to us! One Euro is now "worth" $ 1,511. Wow.
Audit the Fed Attached as an Amendment - Texas Straight TalkI was pleased last week when we won a vote in the Financial Services Committee to include language from the Audit the Fed bill HR1207 in the upcoming financial regulatory reform bill.
Dollar Will be "Utterly Destroyed": Strategist (Video)The dollar will get "utterly destroyed" and become "virtually worthless", said Damon Vickers, chief investment officer of Nine Points Capital Partners.
Obama, Hu Avoid Discussions of U.S. Indebtedness to ChinaThe one issue aides say President Obama and China leader Hu Jintao didn't talk about was the communist nation's holding of $800 billion in U.S. treasury bonds.
China says yes to free markets, no to free currency regimePresident Barack Obama on his tour to China has approached a very cautious approach. While raising issues of contention between the two nations, he has been subtle in his own right.
Full circle: India buys 200 tons gold from Interational Monetary FundMore than 18 years after New Delhi pawned 67 tons of gold to tide over a balance of payments crisis, the Reserve Bank of TwitterFacebookShare EmailPrintSaveComment India has bought thrice that amount of gold from the International Monetary Fund to diversify its assets.
Geithner lauds stance on exchange ratesYa gotta love Tim Geithner. Just like we always love a doofus! While blatantly kowtowing to the Wall Street jackals whom he actually has the power to control, now he's standing up to the Chinese... over whom he has no control whatsoever.
Decline but no fallHere's a fourth and last article... for today. Four is a bit much for a single day -- I suppose that Mr Obama's trip is the reason for this flurry. Still... There is at least one article every day, even when Mr Obama isn't doing anything in particular.
Plea to reduce demand for dollar reservesThere are risks in having the world's reserves denominated in any particular currency. Everyone becomes vulnerable to irresponsible monetary policy for that single country.
Dollar weakens as China hints at stronger renminbiThe €uro is slightly over $1,50 this morning.
How the Dollar is Being Systematically Devalued since the 1980s.Yes. The Federal Reserve and the Government are devaluing our money ON PURPOSE. Why, you ask?
G20 Meet To Finalize Dumping Of Dollar?A press release detailing Estulin's statements says that G20 Finance Ministers and Central Bank Governors, meeting in St. Andrews, Scotland, will debate actions to sink the U.S. Dollar, thereby crashing the present world financial system.
Wages falling; the prices of imported goods are rising Everyone remembers oil prices near $150 per barrel (July 2008). The price of natural gas peaked about then (June 2008) at $61.90/million BTUs. By mid-February, the prices of both of these commodities had fallen about 70 percent. But, since then, their prices have diverged.
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