China and Japan Cut Rates as Slowdown Worsens
The Bank of Japan cut its interest rates to 0.1 percent last week and China made its fifth rate cut in the past three months earlier today. Both countries rely heavily on exports and the drop in demand – particularly in Europe and the U.S. – has resulted in the closing of factories and growing unemployment. More
Rubble Hits Three-Year Low
Falling oil prices and a government -sanctioned program of devaluing the ruble against the dollar-euro basket used to monitor the ruble, has resulted in Russia’s currency falling to a three-year low of 28.4567 rubles to one US dollar. More
Analysts Suggest Euro to Reach $1.50 by Year-End
Technical analyst Pak Lai Ng of Forecast Singapore suggested earlier today that, based on Fibonacci Sequence data, the euro could touch $1.50 within the next two weeks. More
Toyota Also Issues Profit Warning
We have been tracking the travails of the American automakers for several months now, but the world-wide drop in demand for new cars has also forced Japan’s Toyota into a position where it will see its first operating loss since 1941. More
