Australian Dollar Down on Weaker Stock Prices
The Australian dollar fell today as stocks declines and a diminishing consumer confidence. Also, a report due later this week is expected to show that unemployment rose for the month of November provideing further evidence of an impending recession. More
UK Housing Problems Force Down the Pound
The pound fell to a record low against the euro this morning as UK home sales fell to their lowest level since 1978. Despite a big cut last week reducing the key lending rate to 2 percent, analysts predict another quarter point cut in January as the Monetary Policy Committee struggles to stave off a deepening recession. More
Oil Down on Decreasing US Demand
The US Energy Department forecast today that global demand for oil will decline for the first time since 1983, causing the price to fall 1.7 percent to $42.96 in early trading in New York. More
US 3-Month T-Bill Yield Falls Below Zero Percent
The yield on the three-month US Treasury bill fell below zero as investors bought government bonds as a safe haven from declining stocks and other investment vehicles. More
