Market News
Forex Top Story
Oil Prices Finish Modestly Lower After Touching Above $70
6/5/2009 4:19:15 PM Crude oil finished modestly lower on Friday after briefly rising above the $70 per barrel mark earlier in the day. With the slip, oil gave back some of its sharp rally from the day before. Light sweet crude for July delivery fell to $68.44 per barrel, down 37 cents on the session.
Gold Falls 2% As Dollar Rebounds
6/5/2009 3:22:59 PM Gold fell on Friday amid a broad drop for commodities as an improved U.S. dollar reduced the need for a hedge investment. The metal finished the week lower for the first time in five weeks. August-stamped gold futures ended at $962.60 per ounce, down $19.70 on the session.
Dollar Rallies Versus Other Majors After Jobs Surprise
6/5/2009 3:09:05 PM The dollar enjoyed its best performance in months on Friday, paring a portion of its steep recent losses after a mixed bag of jobs data fueled speculation the worst of the recession may be over for the world`s biggest economy. With the jobs data signaling the US is in recovery, the dollar skyrocketed versus the yen and extended its modest gains from the previous session versus the euro and sterling.
Euro Backs Away From Highs Against Major Rivals
6/5/2009 12:58:27 PM The euro saw weakness against other majors on Friday in New York as traders continued to mull the European Central Bank`s latest move. The single currency fell against the dollar and sterling and gave back an early surge against the yen. Investors considered comments from several European Central Bank members on Friday, including President Jean-Claude Trichet, who said this is a time of unprecedented uncertainty and challenges.
Employment Falls By Much Less Than Expected In May
6/5/2009 9:10:42 AM Employment fell by much less than expected in the month of May, according to a report released by the Labor Department on Friday, although the unemployment rate rose more than expected to reach a new twenty-five year high. The report showed that non-farm payroll employment fell by 345,000 jobs in May following a revised decrease of 504,000 jobs in April.
© RTTNews.com
Currency Market Update
Israeli shekel falls from 2-day high against US dollar
6/5/2009 6:11:49 AM The Israeli shekel lost ground after hitting a 2-day high of 3.9160 against the US dollar at 5:30 am ET Friday. The Israel currency is currently trading at 3.9456 against the dollar with 4.007 seen as the next target level. The dollar-shekel pair closed Thursday`s North American session at 3.9377.
Swiss franc falls against most majors
6/5/2009 6:02:21 AM During Friday`s early deals, the Swiss franc edged down against the US dollar, the European currency and the Japanese yen as Swiss CPI recorded the biggest annual fall since 1959. On the other hand, the franc climbed to a 15-day high against the British pound due to across the due to across the board weakening of the latter.
British pound tumbles to 15-day low against euro and franc
6/5/2009 5:01:03 AM During early European deals on Friday, the British pound declined to a 15-day low against the European currency and the Swiss franc as concern over the stability of the U.K. government reduced demand for sterling. The pound also slipped to a 1-week and a 4-day low against its U.S. and Japanese counterparts.
British pound falls to 1-week low against dollar and franc
6/5/2009 1:51:07 AM The British pound traded down against the US dollar and the Swiss franc during early deals on Friday. At 1:40 am ET, the pound declined to a 1-week low of 1.6069 against the dollar and 1.7182 versus the franc, compared to Thursday`s closing values of 1.6177 and 1.7300 respectively.
Singapore dollar climbs to 1-week high against British pound
6/5/2009 1:13:05 AM During early deals on Friday, the Singapore dollar showed strength against its major counterparts as a rise in Asian stock prices increased demand for emerging-market assets. The Singapore currency thus climbed to a 1-week high against the British pound.
© RTTNews.com
Market Sensitive Global News
Obama pays tributes to Holocaust victims in Germany
6/5/2009 1:01:05 PM U.S. President Barack Obama, who is on a brief European tour, paid his respects Friday to victims of the Holocaust when he visited a former Nazi concentration camp in Germany. German Chancellor Angela Merkel accompanied the president on his stroll around Buchenwald, where an estimated 56,000 prisoners died before the camp was liberated by U.S. forces on April 5, 1945.
Obama, Merkel vow to `redouble` efforts for peace in Middle East
6/5/2009 7:14:13 AM A day after making a landmark call for a new beginning in U.S-Islamic world ties, American President Barack Obama joined German Chancellor Angela Merkel to announce that they had agreed to `redouble` efforts to achieve peace in the Middle East. Addressing a news conference Friday after an hour-long talks with the German leader in Dresden, Obama said his government would seek a resumption of peace talks between Israel and the Palestinians.
Worldwide support for Obama`s call to the Islamic world
6/4/2009 12:55:33 PM U.S. President Barack Obama`s call for a new beginning in relations with the Islamic world evoked worldwide accolades, except from the militant Islamic groups, the Hamas and the Hezbollah. The President of the European Parliament, Hans-Gert P?ttering, welcomed Obama`s `courage and determination to achieve a solution to the Israeli-Palestinian conflict.` He urged Israel to cooperate with the two-state solution, for which Obama asserted Washington`s support Thursday.
EU sets conditions to accept Guantanamo inmates
6/4/2009 10:11:53 AM European Union (EU) member-states agreed to place restrictions and to share information on former Guantanamo Bay detainees they plan to accept, reports say. This important decision in support of the Obama administration`s efforts to help close the prison in Cuba was taken Thursday at a meeting of the Interior Ministers of the 27-nation bloc in Luxembourg.
Obama calls for new beginning between U.S. and Islamic world
6/4/2009 8:47:05 AM U.S. President Barack Obama called Thursday for a new beginning in his country`s relations with the world`s 1.5 billion Muslims, and for ending a cycle of `suspicion and discord.` He made the historic call while delivering a keynote speech at Cairo University.
© RTTNews.com
Political News and Chatter
Watchdog Group Finds Pork Barrel Spending in New House Legislation
6/5/2009 4:52:09 PM Citizens Against Government Waste (CAGW), a nonprofit organization that monitors government spending, released its preliminary analysis of the House version of the Fiscal 2010 Commerce, Justice, Science (CJS) Appropriations Act Friday. According to the CAGW, the act has 1,086 projects at a cost of $366.7 million, which represents a 3.3% decrease in projects and a 10.5% decrease in cost from the House 2009 CJS version.
Lawmakers Spar Over Interpretation Of Employment Data
6/5/2009 2:02:20 PM Lawmakers reacted to the better than expected employment numbers Friday, with members of both parties sparring over the interpretation of the data. Employment fell by much less than expected in the month of May, according to a report released by the Labor Department, although the unemployment rate rose more than expected to reach a new twenty-five year high.
Biden Sees Signs Of Hope In `Tough` Job Loss Figures
6/5/2009 12:31:28 PM Vice President Joe Biden said that while new jobless data revealed `tough` economic conditions, there are still signs of hope. The Labor Department reported Friday that the economy shed another 345,000 jobs in May, bringing the unemployment rate up to 9.4 percent, the highest rate in almost 26 years, Biden said.
Solis Says May Jobs Report Shows The Needs of Working Families
6/5/2009 12:09:12 PM Following the Labor Department`s release of the May jobs report, which showed unemployment at its highest rate in 25 years, Labor Secretary Hilda Solis said that the Labor Department will continue to move `swiftly and aggressively` to help workers impacted by the economic downturn.
Lawmakers, Administration Officials React To Employment Numbers — Update
6/5/2009 12:07:52 PM Lawmakers reacted to the better than expected employment numbers Friday, continuing to express concerns about the rising unemployment rate. Employment fell by much less than expected in the month of May, according to a report released by the Labor Department, although the unemployment rate rose more than expected to reach a new twenty-five year high.
© RTTNews.com
Forex Audio News
• Dollar Rallies Versus Majors After Jobs Surprise 6/5/2009 5:00:32 PM
• Oil Prices Move Slightly Lower 6/5/2009 4:44:55 PM
• Gold Drops Sharply On Dollar`s Rise 6/5/2009 4:14:59 PM
• Employment Fell By 345,000 Jobs In May 6/5/2009 8:47:14 AM
• ECB`s Hurley Sees Extended And Gradual Recovery 6/5/2009 8:05:41 AM
• Dollar Steady Versus Majors Ahead of Jobs Report 6/5/2009 8:01:47 AM
• UK Output Prices Fall For First Time Since 2002 6/5/2009 7:56:41 AM
• Swiss Consumer Prices Continue To Fall In May 6/5/2009 7:54:19 AM
• Australia May Construction Index Improves, Remains In Contraction – AIG 6/4/2009 8:00:59 PM
• South Korea Revised Q1 GDP Up 0.1% Q/Q 6/4/2009 7:58:03 PM