Archive For "February, 2010"

The U.S. dollar falls versus rivals but moves off lows after U.S. GDP data are upwardly revised.

NEW YORK (MarketWatch) — The dollar regained some ground on Friday after a report showed U.S. real gross domestic product increased at a 5.9% seasonally adjusted annualized pace in the final three months of 2009, revised up from 5.7% estimated last month. The dollar index , which measures the U.S. unit against a trade-weighted basket of rivals, traded at 80.692, compared to 80.744 in North American trade late Thursday. The euro traded at $1.3569, slipping from $1.3593 before the data but still up slightly from $1.3554. Still to come is data on existing-home sales in January and a final reading on consumer confidence for this month.

Financier Jim Rogers Friday denied making remarks attributed to him in a press release this week saying the pound sterling is at risk of imminent collapse.

The U.S. dollar fell versus most major rivals Friday, as positive economic data in Asia and a firmer tone in equity markets robbed the greenback of safe-haven support, strategists said.

Gold’s been quite the rebel lately — and investors are giving it much more than a passing glance, writes Myra P. Saefong.

The British economy expands by an upwardly revised 0.3% in the final three months of 2009.

LONDON (MarketWatch) — Consumer inflation across the 16-nation euro zone rose at an annual pace of 1% in January, up from 0.9% in December, the European Union statistical agency Eurostat reported Friday. The figure was in line with Eurostat’s preliminary estimate. On a monthly basis, inflation fell 0.8%.

LONDON (MarketWatch) — British gross domestic product expanded 0.3% in the final three months of 2009, the Office for National Statistics said in a revised estimate Friday, up from an initial projection of 0.1% quarterly growth. Economists had forecast a revision to show 0.2% growth. Compared to the same period last year, GDP fell 3.3%, compared to an initial estimate of a 3.2% decline. Third quarter GDP was revised down to show a 0.3% quarterly decline from a previous estimate of a 0.2% fall.

British house prices end a nine-month string of monthly increases amid rough weather and the expiration of a tax break.

LONDON (MarketWatch) — German healthcare firm Bayer said Friday its fourth-quarter net income rose 44.3% to 153 million euros ($207.5 million). Sales declined 0.6% to 7.9 billion euros. Bayer said it expects the global economy to continue to recover in 2010 but believes the impact of the global business downturn in 2009 will continue to be felt “for some time to come.” Still, Bayer said it’s optimistic for 2010 and plans to increase sales by more than 5% on an adjusted basis, with adjusted EBITDA expected to rise toward 7 billion euros.