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Dollar, Euro, Pound & Yen

00:05 Wednesday 14 July, 2010

Lee Boon Keng, MD & senior advisor at Julius Baer expects weaker numbers from the slew of Chinse data due out Thursday but he says markets should not be too worried. He explains, to CNBC's Martin Soong, Karen Tso and Sri Jegarajah.

00:00 Wednesday 14 July, 2010

U.S. stocks climbed Tuesday for a sixth consecutive session after quarterly results from aluminum producer Alcoa Inc. and railway operator CSX Corp. heightened investor optimism.

"While second-quarter earnings season has just moved out of the starting gate, it always helps investor psychology if the early reporting companies deliver better-than-expected earnings and do not cut current quarter guidance," Fred Dickson, chief market strategist at Davidson Cos., wrote in a research note.

22:14 Tuesday 13 July, 2010

The economic recovery will be weak, but there is no double-dip on the horizon, Stephane Deo from UBS told CNBC Tuesday.

22:04 Tuesday 13 July, 2010

The trade deficit in the U.S. unexpectedly widened in May to the highest level since November 2008 as a gain in imports outpaced growth in exports.

The gap expanded 4.8 percent to $42.3 billion as U.S. companies imported more automobiles and consumer goods, Commerce Department figures showed today in Washington. The deficit was projected to narrow to $39 billion, according to the median forecast in a Bloomberg News survey. Imports and exports rose to the highest level since 2008.

The increase in trade flows showed a global economy that was strengthening before recent figures signaled a pause last month in growth in China, Europe and the U.S. The fallout from the European debt crisis may limit overseas demand, while an increase in the value of the dollar makes American goods less competitive abroad.

22:00 Tuesday 13 July, 2010

European stocks gained for a sixth day and U.S. index futures rose after Alcoa Inc.’s earnings beat estimates, BP Plc rallied and Greece sold bills for less than the rate charged for European Union bailout funds. Gold climbed after Moody’s Investors Service downgraded Portugal’s debt.

The Stoxx Europe 600 Index increased 1.7 percent at 7:55 a.m. in New York, while futures on the Standard & Poor’s 500 Index jumped 0.8 percent. China’s Shanghai Composite Index sank 1.6 percent, the most in two weeks. The 10-year Portuguese bond yield rose six basis points to 5.50 percent. Gold reversed earlier losses, and oil topped $76 a barrel. The pound strengthened against all 16 of its most-traded peers.

“We expect a strong majority of companies to beat their numbers,” said Graham Bishop, the London-based head of pan- European equity strategy at Royal Bank of Scotland Group Plc. “We already know a great deal about the performance of the global economy through the second quarter. Consensus economic forecasts have actually been revised materially higher.”

14:22 Tuesday 13 July, 2010

Global commodity demand will double in the next 15 years, believes Matthew Sherwood, head of investment market research, Perpetual. He recommends that investors put their money in quality global resource companies in today's edition of Protect Your Wealth.

14:16 Tuesday 13 July, 2010

Asian stocks fell and the yen strengthened after China said it will maintain lending curbs and Infosys Technologies Ltd. posted lower first-quarter profit. Chinese shares sank the most in two weeks.

Chinese developers and lenders led the nation’s shares lower after the government said it will “strictly enforce” policies enacted to quash real estate speculation. Infosys, India’s second-largest software services provider, reported profit that fell short of analyst estimates, sending its shares down the most in five months. The results outweighed better- than-expected earnings from Alcoa Inc.

“Today’s comments on property loan rules put to rest speculation about a possible reversal of the tightening policy,” said Takashi Kudo, general manager of market information at NTT SmartTrade Inc., a unit of Nippon Telegraph & Telephone Corp. “A sharp sell-off of Shanghai stocks in the wake of such remarks weakened risk sentiment to an extent.”

11:39 Tuesday 13 July, 2010

The death tax is set to skyrocket to 55 percent, affecting a ton of American families. Insight with James Pethokoukis, Reuters Breakingviews money and politics columnist.

11:34 Tuesday 13 July, 2010

Asian shares were mostly higher Tuesday as Alcoa Inc. kicked off the U.S. earnings season on a positive note, helping lift markets in Tokyo and Australia.

Alcoa's results "beat market estimates with a reasonably positive outlook; obviously the U.S. reporting season is going to drive sentiment in the next week or so with quite a few companies coming to the market," said Macquarie Equities Broker Brad Gordon in Wellington.

After U.S. markets shut Monday Alcoa reported it swung to a profit in the second quarter on higher sales volumes and prices compared with a year earlier, and raised its outlook for global aluminum consumption this year. Shares were 2.9% higher in after-hours trade.

11:30 Tuesday 13 July, 2010

The yen traded near a two-week low against the dollar as signs of earnings growth at U.S. companies curbed demand for Japan’s currency as a refuge.

The yen weakened versus 15 of its 16 major counterparts after Alcoa Inc., the largest U.S. aluminum producer, reported second-quarter profit that topped analysts’ projections. The Australian and New Zealand dollars traded near the strongest levels since June as Asian stocks rallied, spurring demand for currencies tied to growth.

“There is emerging optimism that the ongoing quarterly reporting will underscore continued profit growth at U.S. companies,” said Hiroshi Higa, senior strategist in Tokyo at MoneySquare Japan Inc., an online currency trading company. “Such a view will ease risk aversion and put some downward pressure on the yen, which has recently been bought as a safe haven.”

08:09 Tuesday 13 July, 2010

Cramer cuts through the noise for those who are feeling skeptical of last week's rally.

08:04 Tuesday 13 July, 2010

Crude-oil futures settled lower Monday as investors waited for more clues from the start of earnings season and no catalyst emerged to take prices higher following last week's 5.5% gains.

Crude for August delivery lost $1.14, or 1.5%, to $74.95 a barrel on the New York Mercantile Exchange. It was oil's lowest close in three sessions.

Oil needed "quite a bit of luck from the equities side" to trade higher, said Tony Rosado, a broker with GA Global Markets in New York.

07:53 Tuesday 13 July, 2010

Stocks rose, with the Standard & Poor’s 500 Index climbing for a fifth day, as analyst upgrades of technology shares boosted optimism before the start of the earnings season. The dollar strengthened and oil and copper retreated.

Technology shares led U.S. equities higher after analysts advised buying stock in SanDisk Corp. and Qualcomm Inc. as the S&P 500 added to its 5.4 percent advance last week, its biggest in a year. Alcoa Inc. started the second-quarter reporting season with better-than-estimated results after markets closed, sending the largest U.S. aluminum company’s shares up 2.9 percent in extended trading.

“We don’t see the double dip in the economy,” said Patrick Becker Jr., chief investment officer of Becker Capital Management Inc. in Portland, Oregon, which oversees $2.3 billion. “We see stock valuations being very attractive at these levels, especially within technology.”

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