US Home Woes Continue
September 28, 2007
The number of new homes selling in the US has fallen dramatically over the course of August fuelling fears that the problems of the sub-prime crisis have finally spread to the wider economy, according to official figures released today.
The figures had been anticipated to be disappointing, which had seen a sell off on the greenback […]
US House Prices Fall
September 25, 2007
The price of homes in the US’s top ten largest cities has fallen over the course of July by the steepest margin in nearly two decades, according to a survey published today, reflecting the growing depression in the US housing sector that has so badly plagued its economy in recent years.
The figures, derived from the […]
Dollar Further Down To Record Lows
September 20, 2007
The value of the dollar has fallen to a new record low against the euro off the back of Federal Reserve interest rate cuts earlier in the week, which has seen many currency investors turn away from the dollar in favour of more beneficial currency investment.
The dollar fell below the benchmark $1.40 to the euro […]
Feds Poised To Cut Interest Rates
September 18, 2007
The Federal Reserve is today poised to slash interest rates, with many analysts predicting they could slash the prime rate of lending by up to two incremental steps in order to bring some stability to financial markets.
The Federal Reserve will begin its talks tomorrow, which are scheduled to last for a day, with the result […]
UK To Suffer In Coming Years Says Greenspan
September 17, 2007
Alan Greenspan, former Chairman of the Federal Reserve, has today spoken out against the UK housing boom, predicting significant unrest over the coming years as a result of the US sub-prime sector.
In a statement made today, Greenspan said that UK inflation would more regularly break the 3% mark resulting in a need for higher interest […]
Inflation Well Under Control In US
August 31, 2007
The rate of inflation in the US grew by a small margin than analysts had expected over the course of the last month, according to figures released today.
In official consumer price figures, prices have grown over the month of July, but even still fall below the rate of growth many analysts had forecast for the […]
Federal Reserve Pledge To Ease Credit Crunch
August 21, 2007
The Federal Reserve has today announced it will use all tools available to it to prevent a credit crunch, according to international media reports.
The Federal Reserve, the authority responsible for deciding US monetary policy, has been quoted by Senator Christopher Dodd as pledging to exercise their full availability of powers in dampening the threat of […]
US Home Slowdown Hits Builders
August 17, 2007
The rate at which new homes are being built in the US has fallen dramatically, according to official figures released today.
The figures released reflect the growing downturn in demand for housing within the US, as a result of a poor underlying economic performance and ongoing problems in the mortgage market.
The sub-prime lending market crisis, a […]
US Stock Markets In Turmoil Through Morning Trade
August 14, 2007
Stock markets in the US have reverted back to red, continuing last week’s downward trend after continued mortgage sector problems.
The ongoing sub-prime lending saga is continuing to suppress trading on markets, and indeed markets worldwide, despite intervention in financial markets by the Federal Reserve over the beginning of this week.
The Federal Reserve three-part cash pledge […]
US Shares Badly Hit By Financial Worries
August 9, 2007
Shares on the US stock markets have closed significantly down over the course of trade today, after concerns from the mortgage market threatened to lead to a worldwide credit crunch.
Trading on the Dow Jones, Nasdaq and S&P were all down over the course of today, after what has been a week of recovery for worldwide […]
US Interest Rates Hold Fast
August 8, 2007
The Federal Reserve yesterday announced its decision to maintain interest rates at 5.25% for the thirteenth consecutive month.
The US Federal Reserve made the announcement that interest rates would remain constant as analysts predicted, even in the face of apparent deep-rooted economic problems.
In spite of growing worldwide concern as to the health of the US economy, […]
Federal Reserve On Track For Maintaining Interest Rates
August 7, 2007
The Federal Reserve are today expected to make a decision on US central interest rates, according to widespread economic opinion and Federal Reserve convention.
US interests currently stand at 5.25%, reflecting a base rate by which much variable consumer and commercial lending is tracked. Increases in interest rate are used to dampen economic growth, whilst slashing […]
US Economy Doubts Send Oil Prices Tumbling
August 6, 2007
The price of crude oil has fallen considerably over the course of today, continuing the declining price trend of last week.
Oil prices, which have fairly recently broken all time record highs, have been dramatically impacted upon by poor US economic performance, causing prices to decrease in the face of recent trends.
Worrying results from Wall Street, […]
Market hits slump after volatile week
August 4, 2007
The U.S. stock market experienced big losses Friday, marking the end of a volatile week of trading.
After realizing triple digit increases over Wednesday and Thursday, the Dow Jones fell by 2.1% (284.8 points) down to 13,178.5 points, with the Nasdaq following at a loss off 2.5% down to 2,511.25 points. Over the whole week, the […]
$80 Oil On The Verge Of Ruining US Economy
August 3, 2007
Oil price rises beyond $80 a barrel are inevitable, and will cause a profound effect on the US economy, a statement released today intimated.
US Energy Secretary Sam Bodman stated that prices in the region of $80 a barrel could hinder economic growth, and lead to inflation in energy prices and consumer products.
Analysts have forecast $80 […]
US Stock Markets Bouncing Back
July 31, 2007
Stock markets in the US have today showed strong performance thus far, signifying an apparent recovery from the losses throughout the course of last week.
The strong performance over trading this morning and yesterday has been echoed around the world, with most of the world’s major stock exchanges posting positive trading results.
US stocks closed up on […]
Gasoline Prices Fall
July 30, 2007
The price of gasoline at US pumps has fallen to an average of $2.88, down a substantial 17 cents from earlier in the month, with increasing supply helping to curb the rising prices.
The figure is taken as a national average for self-service, unleaded petroleum at retail stations, and reflects an overall fall in the price […]
US Growth Above Expectations
July 27, 2007
The USA has experienced sharper growth over the last quarter than analysts predictions, figures today have shown.
The figures released today show growth of around 0.2 percentage points beyond analyst projections, highlighting a rare good day for the immediate future of the US economy.
The statistics reflected a surprising increase in growth over the last three months […]
US Price Spikes Not As Bad As Analysts Forecast
July 27, 2007
Wall Street’s worry has begun to subside on the back of Federal Reserve Chairman Ben Bernanke’s speech to the National Bureau of Economic Research.
Bernanke’s comments came on the back of a day of sliding trades on the Dow Jones, and other world stock markets, relating primarily to the future of US inflation.
“Swings in volatile energy […]
US Mortgage Applications Fall
July 26, 2007
The number of mortgage applications in the US fell last month, according to figures released by the Mortgage Bankers Association.
The Mortgage Bankers Association applications index fell to 609.0, hitting a five-month low figure on the number of new applications for home buying mortgages.
The calculation, which takes into account seasonal variation, reflects the number of mortgage […]