Dollar Down in Anticipation of Disappointing Manufacturing Results
Manufacturing data due this morning is expected to show a dramatic drop in US manufacturing and this is dragging the dollar down against the yen and the euro. More
Brazilian Real Falls on Investment Concerns
Concerns that the ongoing global financial crisis will decrease investment in South America’s largest economy continue to force down the real which has lost 28 percent of its value in the last three months alone. More
Proposals from G20 Meeting Likely to Limit Corporate Profits
While the G20 talks have been short on specific actions to reverse the financial crisis, proposals have been put forward that would increase oversight and regulation aimed to prevent a reoccurrence of a future global financial meltdown. To date, an estimated $964 billion worth of assets held by financial institutions around the world have been wiped out resulting in a credit shortage pushing many economies towards recession. More
Japan Now in Recession
Following on the heels of last week’s announcement that the Eurozone was in a recession, Japan – the world’s second-largest economy – has now officially entered into its own recession. Japan’s economy contracted in the second quarter of the year and data just released, shows that the economy decreased again in the third quarter. More
Oil Prices Continue to Plunge
Light, sweet crude fell by more than a dollar to $55.93 a barrel while brent crude dropped $0.52 to $53.72 as global demand for energy recedes. Despite the lower prices, the Organization of the Petroleum Exporting Countries (OPEC) has suggested that it will not cut production when OPEC members meet later this week. More
