Economic News

The dollar traded little changed against major currencies Friday as investors locked in gains ahead of the weekend after the greenback reached a five-week high. "We're heading into a weekend. The dollar has come a long way. It's hard to continue to add strength on top of strength even the data suggest more upside," said David Gilmore, a partner at Foreign Exchange Analytics. "The dollar has mov ...

Zimbabwe's inflation rate has continued its upward trend, reaching 1,193.5% in May, and putting an ever greater strain on the country's struggling economy. The latest rise represents a climb of 150.6% on April's figure which was just above 1000%, the Central Statistics Office said. It means goods cost about 13 times what they did a year ago, compounding the hardship many Zimbabweans experience. Analysts are now predicting that inflation could hit 1,800% by year-end. Printing money Zimbabw ...

By Gleb Bryanski ST PETERSBURG, Russia (Reuters) - Protecting global economic growth from high oil prices and rising inflation risks took centre stage when finance ministers from the Group of Eight (G8) wealthy nations gathered in Russia's second city on Friday. The two-day meeting in St Petersburg, paving the way for a summit here in July, comes at a time of mounting interest rates and fears in ...

The dollar strengthened against major foreign-exchange counterparts early Friday after solid U.S. economic data showed a narrower-than-expected trade deficit and a surge in import prices. Hawkish comments from a number of Federal Reserve officials in the past week have indicated the Fed's heightened sense of vigilance toward inflation, fueling hopes the U.S. central bank will continue lifting i ...

Treasurys fell early Friday, sending yields higher, after data showed a narrower-than-expected trade deficit and a surge in import prices, reinforcing the case for the Federal Reserve to hike rates again. The 10-year benchmark Treasury was last down 2/32 at 100 30/32 with a yield ( TNX) of 5.006%, up from 4.994% late Thursday. Bond prices and yields move in opposite directions. The 2-year no ...

Evening Standard9 June 2006 HOPES that foreign trade will boost the economy this year have suffered a setback from news that Britain's trade gap has widened again. OTHER STORIES Thames faces huge new fine House of Fraser 'keen' on Baugur bid Market report: Friday 13.30 Fullers' World Cup bid Property millionaires hit 66,000 THE EDITOR'S PICKS TOP STORY: Your favourite cars T ...

Stock markets have fallen in Europe and Japan on Thursday, amid concerns that higher interest rates will slow world economic and corporate profit growth. Japan's Nikkei closed down 463 points, or 3%, at 14,633, the biggest one-day drop in a year. It was the first time the index ended below 15,000 in 2006. London's FTSE 100 finished 2.5% lower at 5562.90, while France's Cac shed 2.9% and Germany's Dax slid 2.7%. US markets reversed early declines to end their session little changed. Inflatio ...

WASHINGTON (Dow Jones) -- The top economic adviser at the White House tried to pour some cold water on rampant inflation fears Thursday, arguing that the pace of recent gains in consumer and wholesale prices won't last. Although overall inflation has increased faster than expected so far this year, the economy is still expected to gradually slow down, not drop into recession, according to Edwar ...

Treasury prices rose Thursday, sending yields lower, as a global stock market sell-off sent investors into the safety of bonds. News of the death of Abu Musab al-Zarqawi, the leader of al-Qaida in Iraq, and interest-rate rate increases by the European Central Bank, South Korea, South Africa and Turkey took a toll on equity sentiment worldwide. "There's a safe-haven bid coming into the Treasu ...

WASHINGTON (Dow Jones) -- Donald Kohn, the newly designated No. 2 official at the Federal Reserve, said Thursday he sees potential danger signs in recent inflation data, the latest in a string of hawkish comments by policy-makers in recent days. "Price stability is important, and I've found the recent inflation data somewhat troubling," Kohn said in confirmation hearings before the Senate Banki ...