Japan’s Exports Still on the Slide
Japan’s exports continue to decline month over month with the pace of loss increasing; when compared to July 2008, exports have fallen 35.5 percent. Slower car sales to the US, Middle East and Russia were blamed for the decline, which followed June’s 35.7% fall. More
US Durable Goods Jumps 4.9%
The US Commerce Department announced today that orders for durable goods for July shot up 4.9 percent – the largest single-month increase in two years and beating expectations of a 3 percent increase. More
Analysts Say Dollar Will Weaken As Global Economy Recovers
As the global economy recovers, investors will begin looking for higher-yielding returns on their investments and this, according to a panel of currency strategists, will create downward pressure on the dollar.
“Investors in the U.S. and globally are sitting in too many T-bills and too much cash,†said Rebecca Patterson, global head of foreign exchange at JPMorgan Private Bank in New York. “As the world slowly gets better, they are going to want to take advantage of that. They want a better yield than you get in a T-bill, and that keeps the dollar under pressure.â€
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Increasing German Confidence Boosts Euro
Growing confidence within German companies boosted the euro to 87.82 pence and marked the fifth straight monthly increase in the business sentiment index. More
