Business :: The St. Kitts-Nevis Observer

The British pound was near its lowest in more than a month against the dollar after a report showed U.K. services grew the least in 16 months, boosting concern the recovery may falter.

The pound is trading at $1.5405 in morning London trading.

The Canadian dollar climbed versus its U.S. counterpart after a U.S. Labor Department report showed employers added more jobs than anticipated, bolstering the outlook for higher-yielding assets.

The loonie is trading at $0.9602.

US Dollar vs Euro, Pound, Canadian Dollar - Thursday, Sept. 2, 2010

The U.S. dollar was lower against the euro ahead of the conclusion of the European Central Bank's monthly meeting later in the day. The euro was also buoyed by Spain's sale of 3.3 billion euros ($4.2 billion) of five-year debt, which helped ease concerns about sovereign debt in the 16-nation euro zone

The euro, at $1.2822, erased early weakness, and was up from $1.2799 in late North American trading on Wednesday.

The British pound was undercut by mortgage lender Nationwide's monthly housing survey, which showed that U.K. house prices declined by 0.9% in August compared to July.

The pound fell to $1.5401, from $1.5453.

The Canadian dollar recovered some lost ground against its U.S. counterpart as risk appetite was revived on strong overseas data, offsetting concerns about the world economic recovery.

The loonie is trading at $0.9520.

Stock Market Wrap-up - Wednesday, Sept. 1, 2010

U.S. stock indexes surged after an unexpectedly strong U.S. manufacturing survey further eased tensions about the global economic recovery.

- The Dow Jones Industrial Average advanced 254.75 points (2.54 percent).
- The Nasdaq Composite gained 62.81 points (2.97 percent).
- The S&P 500 index climbed 30.96 points (2.95 percent).

European stock indexes enjoyed their biggest daily gain in more than three months, on strong manufacturing data from the United States and China, the world's two biggest economies.

- London’s FTSE 100 closed up 141.19 points (2.7 percent).
- Frankfurt’s DAX index ended up 158.68 points (2.68 percent).
- Paris’ CAC-40 index closed up 133.05 points (3.81 percent).

US Dollar vs Euro, Pound, Canadian Dollar - Wednesday, Sept. 1, 2010

The euro gained slightly on the U.S. dollar as investors investors mainly waited for the August non-farm payrolls report Friday, in which the unemployment rate is expected to move to 9.6 percent to from 9.5 percent.

The euro was at $1.2700, from $1.2673 late Tuesday in New York.

The British pound came off five-week lows against the dollar as investor sentiment improved after robust data from Australia and China eased concerns about a weakening global economic recovery.

In early trading, the pound rose 0.2 percent to reach $1.5385.

The Canadian dollar rose 0.4 percent against its U.S. counterpart, as commodity-based currencies benefitted from improved investor sentiment on riskier venues.

The loonie is trading at $0.9434.

Stock Market Wrap-up - Tuesday, August 31, 2010

U.S. stock indexes ended their worst August since 2001 with small gains after minutes from the latest Federal Reserve meeting showed officials' increasing concern about the economy.

- The Dow industrial average rose 4.99 points (0.05 percent).
- The Standard & Poor's 500 index edged up 0.41 points (0.04 percent).
- The Nasdaq composite index fell 5.94 points (0.3 percent).

European stock indexes edged higher, helped by a rise in U.S. consumer confidence data, though gains were limited by fears for economic recovery, with the market recording its worst monthly decline since May.

- London’s FTSE 100 gained 23.66 points (0.45 percent).
- Frankfurt’s DAX index ended up 12.81 points (0.22 percent).
- Paris’ CAC-40 index closed higher by 3.78 points (0.11 percent).

US Dollar vs Euro, Pound, Canadian Dollar - Tuesday, August 31, 2010

The euro is down against the U.S. dollar as traders await new European and U.S. data for indications on the state of the global economy.

The euro bought $1.2637 in morning European trading, down from $1.2671 on Monday in New York.

The British pound was down slightly against the dollar support the latter garnered as a safe haven currency.

The British pound dropped to $1.5435, from $1.5468 on Monday.

The Canadian dollar is lower Tuesday morning, extending its retreat on weaker-than-expected gross domestic product data for the second quarter.

The loonie is currently trading at $0.9396.

Stock Market Wrap-up - Monday, August 30, 2010

U.S. stock indexes fell as cautious trading dominated as investors await the non-farm employment data due out later this week.

- The Dow Jones industrial average fell 140.92 points (1.39 percent).
- The Standard & Poor's 500 index lost 15.67 points (1.47 percent).
- The Nasdaq tumbled 33.66 points (1.56 percent).

European shares ended slightly lower as concerns about the global economic recovery weighed on investor sentiment, outweighing support from merger and acquisition news.

- UK markets were closed for the August Bank holiday, and will reopen on Tuesday.
- Frankfurt’s DAX index ended down 38.76 points (0.65 percent).
- Paris’ CAC-40 index closed down 20.43 points (0.58 percent).

US Dollar vs Euro, Pound, Canadian Dollar - Monday, August 30, 2010

The euro is starting the week up against the U.S. dollar after turbulent trading on Friday, closing up after Federal Reserve Chairman Ben Bernanke laid out steps the central bank would consider to bolster a weakening economy

The euro bought $1.2741 in morning European trading, up from $1.2731 late on Friday in New York.

The British pound rose against the dollar in early European session on Monday on optimism from the Bernanke statements.

The pound is trading at a four-day high of $1.5573.

The Canadian dollar was a touch firmer against the U.S. dollar, unmoved by the morning's domestic data as markets digested news that the Bank of Japan stopped short of aggressive monetary easing measures.

The loonie is currently trading at $0.9487.

Stock Market Wrap-up - Friday, August 27, 2010

U.S. stock indexes bounced back from seven-week lows on a report showing economic growth slowed less than feared in the second quarter, and by Federal Reserve Chairman Ben Bernanke's promise to protect the recovery.

- The Dow Jones Industrial Average gained 164.84 points (1.7 percent).
- The S&P 500 Index rose 17.37 points (1.7 percent).
- The Nasdaq Composite Index added 34.94 points (1.7 percent),

European stock indexes rose on Bernanke’s stated commitment to support the U.S. economy if needed.

- London’s FTSE 100 stock index closed up 1.0 percent.
- Frankfurt’s DAX increased 0.7 percent.
- Paris’ CAC-40 rose 0.8 percent.

US Dollar vs Euro, Pound, Canadian Dollar - Friday, August 27, 2010

The euro lost a slight amount of ground to the U.S. dollar, as the currency markets were in a subdued mood in European trading as market participants awaited a speech on the U.S. economic outlook by Federal Reserve Chairman Ben Bernanke.

The euro was recently trading at $1.2714 against the dollar, from $1.2724 late in New York Thursday.

The British pound receded moderately against the dollar, despite news from the U.K.'s Office for National Statistics that the country's economy expanded an upwardly revised 1.2% in the second quarter.

The pound stood at $1.5504, from $1.5530.

The Canadian dollar stand poised to appreciate for a second day as commodities including copper and crude oil gained, but opened slightly lower against its U.S. counterpart.

The loonie stands at $0.9442.