Fed Beige Book Describes Economy as “Weak”
The US Federal Reserve “beige Book” – an assessment of each of the Federal Reserve’s 12 districts – showed that the overall economy contracted further and remained weak during the reporting period of early March to April 6th. More
Bank “Stress Test” Results to be Released in Early May
The US government said today that the results of the “stress tests” intended to reveal the overall health of the nation’s banking system, will be available by early May. More
Taiwan’s Dollar Weakens After Ratings Cut
Taiwan’s dollar reversed recent gains after the Standard & Poor’s Ratings Services downgraded the country;s long-term credit rating to negative from stable on fears of a further “deterioration in the government’s fiscal position”. More
Canadian Dollar Continues to Soar
The Canadian dollar – known as the loonie because of the water bird depicted on the reverse of the dollar coin – continued to make large gains against its American counterpart. The loonie jumped to its highest level in 13 weeks, rising as high as $1.2013 to the US dollar (88.24 US cents). More
