U.S. Dollar Falls on Rate Cut
The dollar fell to $1.3292 per euro on news of the half a percent rate cut anounced yesterday.
BOE Official Suggests U.K. Interst Rate Needed
A member of the Bank of England’s Monetary Policy Committee said that interst rates in the UK need to fall “significantly” to ward off the threat of a recession.
Stocks Rebound in Europe and Asia
Yesterday’s rate cut by the U.S. Federal Reserve prompted major gains in the Asian markets and the trend continued as the European markets opened for trading.
September Durable Goods Up 0.8% From August
Despite mounting evidence of a recession, the U.S. September Durable Goods report showed a 0.8% gain over the previous month. Much of the increase can be credited to a growing demand for airplanes and automobiles.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by Scott Boyd (see all)
- Japan’s Demographic Trap - 25 June 2012
- Officials Talk Openly of Greek Euro Exit - 16 May 2012
- Greek Voters Prepare to Roll the Dice - 15 May 2012