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Dollar, Euro, Pound & Yen

22:40 Thursday 22 July, 2010

China should be worried about its growth prospects because its biggest consumers are facing problems, says Fraser Howie, managing director, CLSA Singapore. However, he tells CNBC's Bernard Lo & Karen Tso that China is unlikely to undergo a hard landing.

22:36 Thursday 22 June, 2010

Crude-oil futures edged higher Thursday, reversing some of the previous session's losses, with the market taking its cues from equities, which were up sharply on a largely upbeat slate of corporate results.

"Earnings have been a little bit positive, which brought stocks back up, and also brought back up the price of oil," said Phil Flynn, an analyst at PFG Best.

"We're bouncing back after bleak Ben gave his downbeat assessment," added Flynn, referring to Federal Reserve Chairman Ben Bernanke, who began on Wednesday two days of a semiannual address to Congress.

22:31 Thursday 22 July, 2010

Stocks and U.S. futures gained as EBay Inc. and Caterpillar Inc.’s earnings beat estimates and growth accelerated in European manufacturing and services. The dollar fell after Federal Reserve Chairman Ben S. Bernanke said the economic outlook is “unusually uncertain.”

The Stoxx Europe 600 Index climbed 1.3 percent at 8:30 a.m. in New York as 10 stocks advanced for every one that declined. Futures on the Standard & Poor’s 500 Index gained 1 percent, paring gains after the Labor Department said jobless claims rose more than forecast last week. The Dollar Index dropped 0.8 percent, and copper increased for a fourth day.

The unexpected acceleration in manufacturing and service industries signaled Europe’s economy is growing. Bernanke is scheduled to speak to U.S. lawmakers for a second day today, and reports may show sales of existing homes decreased and leading indicators fell, according to economists surveyed by Bloomberg. About 85 percent of companies on the S&P 500 that have reported since July 12 beat analysts’ estimates for earnings, based on data compiled by Bloomberg.

12:02 Thursday 22 July, 2010

Discussing why the markets didn't like what they heard from the Fed chairman, with Jim Lacamp, Macroportfolio Advisors; Andrew Busch, BMO Capital Markets Global; Sen. Judd Gregg, (R-NH) and CNBC's Steve Liesman.

11:57 Thursday 22 July, 2010

Fresh economic data Thursday could feed the market's phobia about a weaker economy, ahead of another round of testimony from Fed Chairman Ben Bernanke.

Weekly jobless claims are released at 8:30 a.m., and existing home sales are expected at 10 a.m., as are leading indicators. The FHFA home price indices for May is also released at 10 a.m. Bernanke gives his semiannual report on the economy before the House Committee on Financial Services, starting at 9:30 a.m.

Bernanke's first day of testimony Wednesday, before the Senate Banking Committee, rattled stocks and drove investors into the relative safety of bonds. The dollar gained nearly a percent against the euro, as investors fled risk assets.

11:45 Thursday 22 July, 2010

The yen approached a seven-month high against the dollar and Asian stocks fell after Federal Reserve Chairman Ben S. Bernanke said the outlook for the world’s largest economy remains “unusually uncertain.”

The MSCI Asia Pacific Index of shares was 0.2 percent lower at 115.41 as of 11:35 a.m. in Tokyo. Japanese exporters led the Nikkei 225 Stock Average’s slide to a three-week low as the yen strengthened against all 16 major currencies. The yield on the two-year Treasury reached a record-low 0.55 percent, while futures on the Standard & Poor’s 500 Index were little changed.

“Markets hate uncertainty and the reaction in global markets is to sell risky assets,” said Khoon Goh, head of market economics and strategy at ANZ National Bank Ltd. in Wellington. “The yen is likely to benefit from risk aversion.”

07:45 Thursday 22 July, 2010

Whether investors should buy or sell into FinReg, with Doug Kass, Seabreeze Partners Management.

07:39 Thursday 22 July, 2010

Federal Reserve Chairman Ben S. Bernanke said central bankers “remain prepared” to act as needed to aid growth even as they get ready to eventually raise interest rates from almost zero and shrink a record balance sheet.

While Fed officials plan for the exit, “we also recognize that the economic outlook remains unusually uncertain,” Bernanke said today in testimony to the Senate Banking Committee. “We will continue to carefully assess ongoing financial and economic developments, and we remain prepared to take further policy actions as needed to foster a return to full utilization of our nation’s productive potential in a context of price stability.”

Bernanke, responding to questions, outlined options for further steps, including giving more information on the Fed’s commitment to low interest rates, and he said officials haven’t decided which tools they might use. Economic data over the past month that were weaker than analysts projected have prompted investor speculation that the Fed may increase monetary stimulus in a bid to keep the economy growing.

07:16 Thursday 22 July, 2010

U.S. stocks slid, while Treasuries and the dollar rallied, as Federal Reserve Chairman Ben S. Bernanke said the economic outlook remains “unusually uncertain” without offering additional measures to stimulate growth. Oil dropped on an unexpected increase in inventories.

The Standard & Poor’s 500 Index fell 1.3 percent to 1,069.59 at the 4 p.m. close in New York, halting a two-day advance. The yield on two-year Treasuries sank to a record low for the fourth time in five days and the Dollar Index surged 0.6 percent. Oil slipped below $77 a barrel, while copper rallied 3 percent after Freeport-McMoRan Copper & Gold Inc. said the outlook for the metal is “positive.”

Equities slid to their lows of the session as Bernanke said central bankers “remain prepared” to act as needed to aid growth, without providing any specific details. U.S. stocks staged a late-day rally yesterday as investors speculated Bernanke would announce plans today to stimulate the world’s largest economy.

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