Business :: The St. Kitts-Nevis Observer

The U.S. dollar edged up against the euro after U.S. government gave a mixed read on growth in the first two quarters of the year and consumer confidence.

The euro fell to $1.3031, down from $1.3094 late Thursday.

The British pound slipped versus the dollar, after worse-than-expected U.S economic data boosted the appeal of the dollar as a refuge.

The pound is lower by 0.16% on the day, at $1.5594.

The Canadian dollar remained higher versus its U.S. counterpart after reports showing economic growth slowed in both nations failed to deter speculation the central bank will continue to increase interest rates.

The loonie is trading at $0.9699.

Stock Market Wrap-up - Thursday, July 29, 2010

U.S. stock indexes finished lower for the second day, as disappointing revenue from utilities and consumer companies pushed aside a handful of strong earnings reports.

- The Dow Jones Industrial Average closed 0.20 percent.
- The Nasdaq Composite edged down 0.57 percent.
- The Standard & Poor's 500-stock index shed 0.42 percent.

European shares closed lower, with big banks among the biggest losers, mirroring weakness on Wall Street and erasing gains from earlier in the session following upbeat corporate earnings.

- London’s FTSE 100 closed down 5.73 points (0.1 percent).
- Frankfurt’s DAX index ended down 44.24 points (0.72 percent).
- Paris’ CAC-40 index closed down 18.45 (0.50 percent).

US Dollar vs Euro, Pound, Canadian Dollar - Thursday, July 29, 2010

The U.S. dollar slipped against the euro, which has made a sustained push above $1.30 after consolidating on either side of that level for several days.

The euro is trading at $1.3082, its highest level in nearly three months and up from $1.2985 in North American trade late Wednesday.

The British pound shrugged off a 0.5% decline in July for U.K. home prices, as reported by mortgage lender, Nationwide.

The pound is trading at $1.5630, up from $1.5586 late Wednesday.

The Canadian dollar strengthened against its U.S. counterpart, as equities headed for a rally this month, reviving demand for risk assets.

The loonie is at $0.9669.

Stock Market Wrap-up - Wednesday, July 28, 2010

U.S. stock indexes edged slipped on news that orders for big-ticket items in the United States suffered the biggest drop in almost a year in June, on weaker demand for airplanes and electronic goods.

- The Dow Jones Industrial Average fell 39.81 points (0.38 percent).
- The Nasdaq composite index slipped 23.69 points (1.04 percent).
- The S&P 500 index lost 7.71 points (0.69 percent).

European stock markets closed narrowly mixed, consolidating recent gains after weak U.S. data raised fresh doubts over the strength of the economic recovery.

- London’s FTSE 100 index closed down 45.99 points (0.86 percent).
- Frankfurt’s DAX fell 28.37 points (0.46 percent).
- Paris’ CAC 40 index added 3.96 points (0.11 percent).

US Dollar vs Euro, Pound, Canadian Dollar - Wednesday, July 28, 2010

The U.S. dollar advanced slightly against the euro, ahead of key U.S. data on durable goods orders, and the U.S. Federal Reserve release of its Beige Book, a summary of the information the bank uses when setting the benchmark interest rate.

The euro was down 0.02% against the dollar $1.2995.

The British pound slipped against the dollar after the Governor of the Bank of England, Mervyn King, said it would take a "considerable" length of time before U.K. interest rates could return to "normal".

The pound lost 0.06% to hit $1.5582.

The Canadian dollar strengthened versus its U.S. counterpart on increased appetite for higher-yielding assets and month-end portfolio rebalancing by asset managers.

The loonie is trading at $0.9687.

Stock Market Wrap-up - Tuesday, July 27, 2010

U.S. stock indexes were mixed Tuesday, with the Dow inching higher for a fourth straight day of gains built on solid company earnings, but declines shown in the Nasdaq and S&P on news that consumer confidence data in the world's largest economy came in at a five-month low.

- The Dow Jones Industrial Average rose 12.26 points (0.12 percent).
- The Nasdaq composite index fell 8.18 points (0.36 percent).
- The S&P 500 index lost 1.17 points (0.10 percent).

European stock exchanges extended a rally Tuesday, powered by further gains in the banking sector and despite a disappointing report on U.S. consumer confidence.

- London’s FTSE 100 index added 14.55 points (0.27 percent).
- Frankfurt’s DAX rose by 13.1 points (0.21 percent).
- Paris’ CAC 40 index added 30.22 points (0.83 percent).

US Dollar vs Euro, Pound, Canadian Dollar - Tuesday, July 27, 2010

The euro rose to an 11-week high against the U.S. dollar after better-than-expected euro-zone economic data gave the common currency a sustained boost over the key $1.30 level.

Early Tuesday, the euro was at $1.3044 from $1.2997 late Monday.

The British pound also gained to its highest level since February after U.K. retail sales posted their strongest growth in three years, exceeding economists' expectations.

The U.K. pound was at $1.5554 from $1.5485.

The Canadian dollar touched its highest level in more than a month against its U.S. counterpart as corporate earnings pushed stocks higher and along with stronger prices for commodities added to the attractiveness of currencies tied to growth.

The loonie buys $0.9740 currently.

Stock Market Wrap-up - Monday, July 26, 2010

U.S. stock indexes extended recent gains as investor sentiment was boosted by a surge in new home sales and higher company earnings.

- The Dow Jones Industrial Average jumped 100.81 points (0.97 percent).
- The Nasdaq composite index gained 26.96 points (1.19 percent).
- The S&P 500 index added 12.35 points (1.12 percent).

European stock exchanges closed higher, led by banking stocks in the aftermath of last week’s European stress tests.

- London’s FTSE 100 index added 38.5 points (0.72 percent).
- Frankfurt’s DAX was up 27.87 points.
- Paris’ CAC 40 index added 29.13 points.

US Dollar vs Euro, Pound, Canadian Dollar - Monday, July 26, 2010

The euro gained in the U.S. dollar in Asian trade, as the global markets appear to approve of the results of the ‘stress tests’ given to European banks last week as both the euro-zone currency and Asian shares are on the rise.

The euro edged up 0.2 percent against the Monday to $1.2944.

The U.K. pound surged to hit a 3-month high against the dollar on data released Friday, which showed that Britain's economy grew more than expected in the second quarter.

The pound hit $1.5501 during early European trade, the highest since April 26, before consolidating at $1.5483.

In early trading the Canadian dollar has risen above last week's highs on renewed demand for the country’s commodities, such as oil.

The loonis is trading at $0.9666.

Stock Market Wrap-up - Friday, July 23, 2010

U.S. stock indexes rallied after a report showed that most of Europe's big banks passed their stress tests, easing investor worries about the strength of the global economy.

- The Dow Jones industrial average added 102 points (1 percent).
- The S&P 500 index rose 9 points (0.8 percent).
- The Nasdaq composite gained 23 points (1 percent).

European shares ended essentially flat, as investors traded cautiously throughout the session ahead of results of stress tests for 91 European banks, which came in after the close of the market. Organisers of the tests said seven banks would not be strong enough to withstand another recession and would face a total capital shortfall of 3.5 billion euros ($4.5 billion).

- London’s FTSE 100 ended down 1.19 points.
- Frankfurt’s DAX index ended up 24.19 points (0.39 percent).
- Paris’ CAC-40 index closed up 6.48 points (0.18 percent).

US Dollar vs Euro, Pound, Canadian Dollar - Friday, July 23, 2010

The U.S. dollar is lower against the euro after an unexpected jump in a German business-climate gauge trumped nervousness over the upcoming publication of European bank stress tests.

The euro is trading at $1.2926, up from $1.2901 in late North American trading Thursday.

An unexpected 1.1% rise in second-quarter British GDP, above the forecast 0.6%, boosted the U.K. pound over the dollar in early trading.

The pound surged versus the dollar to $1.5433, up from $1.5278.

Though up substantially in yesterday’s trading, the Canadian dollar fell versus its U.S. counterpart in early trading as a government report showed the annual inflation rate slowed in June, reducing pressure on the Bank of Canada to raise interest rates later this year.

The loonie is trading at $0.9630.

Stock Market Wrap-up - Thursday, July 22, 2010

Upbeat outlooks from economic bellwethers 3M, UPS and Caterpillar propelled U.S. stocks higher, as investors shed some of their fears about the strength of the recovery.

- The Dow Jones industrial average gained 201.77 points (1.99 percent).
- The Standard & Poor's 500 added 24.08 points (2.25 percent).
- The Nasdaq Composite rose 58.56 points (2.68 percent).

European shares surged to a one-week closing high on strong earnings results and some solid macro-economic numbers.

- London’s FTSE 100 closed up 99.17 points.
- Frankfurt’s DAX index ended up 151.77 points (2.53 percent).
- Paris’ CAC-40 index advanced 106.65 (3.05 percent).

US Dollar vs Euro, Pound, Canadian Dollar - Thursday, July 22, 2010

The U.S. dollar was down against the euro ahead of key U.S. data on jobless claims and existing home sales, and on data indicating that the euro-zone's manufacturing and services sectors expanded in July, and that new industrial orders in the region rose unexpectedly in May.

In early European trade, the euro advanced 0.80% to reach $1.2855.

The British pound rose against the dollar on news that the U.K. Office for National Statistics indicated that retail sales had risen more than expected in June.

The pound gained 0.78% to hit $1.5284.

The Canadian dollar edged higher versus the U.S. dollar as the latter plunged after Federal Reserve chairman Ben Bernanke painted a gloomy outlook for the U.S. economy

The loonie is currently trading at $0.9596.