Market News

The US Dollar gave back some of its recently made gains against the Euro and the Japanese Yen before regaining positive momentum.

China’s stock markets continue their roller coaster ride as shares turned upwards again Wednesday after plummeting 7.63 percent Monday near 9 percent to settle at an eight-month low of 2,965.1.

Exercising caution in a trading environment threatened by a struggling China, the US Dollar came up off of 7-month trough versus the Japanese Yen.

Is a global recession in the offing? All signs point to one as currencies around the world plummeted to record lows Monday and traders in the $5.3 trillion-a-day foreign-exchange market wonder just how the Chinese financial drama will unfold.

Shortly before the NYSE opened, the S&P 500 Index was expected to open more than 5% down from Friday’s close.

Safe haven currencies were the beneficiaries of investors growing fears, a result this time of the new evidence which shows that China’s economy continues to significantly slow.

The week started out with a bang and news out of Asia is not encouraging. Asian stocks slumped to 3-year lows on Monday as a slump in Chinese equities continued and world markets reacted.

I had expected last week that the market would be more volatile and it came to pass, with the market growing more convinced that the U.S. Federal Reserve will not implement a rate hike next September.

In a move that could either make him or break him, Greek Prime Minister Alexis Tsipras took a dramatic step Thursday by announcing that he would resign his position and hold early elections next month after being in office for less than one year.

The Norwegian Krone, generally considered a safe haven currency, earlier skidded to its lowest level in nearly 8 months versus the Euro.

The common currency Euro recovered slightly after earlier coming under pressure in the wake of China’s slumping equity market. Investors are concerned that the second largest economy on the globe may be on the verge of becoming destabilized.

Ready for some good news at the pump? After years of rising gas prices, consumers should soon be able to fill up their tanks at rock bottom costs. Oil prices are already lower than they have been since 2009 and aren’t even close to settling.

The Dollar edged higher during the European session as markets re-shift their focus to the US and the monetary policy decision of the Federal Reserve Bank. The Fed is due to release its meeting minutes later this week.

The report on the latest prices for home sales in China has been released and it looks good for the world’s third economy. Official data on Tuesday showed monthly home prices climbing for a third straight month in July.

Now that concerns over the potential currency war spurred on by China’s intervention in the Yuan have subsided, the markets’ focus has turned primarily to the US Federal Reserve Bank.