Dollar Slumps on Regional Factory Data
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The dollar sagged on Thursday, pressured by a sharply weaker-than-expected US regional manufacturing survey, but the currency remained rangebound as dealers awaited comments
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Stocks dropped sharply on Thursday as data showing a plunge in regional factory activity and news of a hefty loss by brokerage Merrill Lynch fanned worries about the economy.
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Stocks slid on Thursday as data showing a sharp contraction of regional factory activity and news of a hefty loss by brokerage Merrill Lynch fanned worries about the economy.
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The dollar weakened on Friday after top  U.S. Federal Reserve officials sounded cautious on credit  tightening, fueling jitters in the market ahead of U.S.  employment figures due later in the day.
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Stocks fell on Thursday after a report   said factory activity slowed sharply in the U.S. Mid-Atlantic   region in September, triggering fresh worries about an economic   slowdown and prospects for corporate profits.
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The dollar fell against major currencies after a key survey of US manufacturing activity came in below expectations and renewed concerns about the US economy.
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NEW YORK - Factory activity in the US Mid-Atlantic region slumped in September, a survey showed Thursday, spurring fears that the economy&#39;s soft patch over the summer could extend into the fall.
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The dollar fell against the euro and yen after a gauge of business in the Chicago area, a center of US manufacturing, declined more than economists predicted.
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The US dollar sank to an all-time low against the euro yesterday amid concerns over the US trade and budget deficits and worse-than-expected US employment data.
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Sentiment toward the U.S. housing sector remained poor in December and a regional factory index showed weakness, while other data on Monday suggested the dollar's shrinking value had boosted trade and capital inflows in recent months.
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Stocks tumbled on Thursday as data showing a plunge in regional factory activity and news of a hefty loss by brokerage Merrill Lynch fanned worries about the economy.
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The dollar dipped amid concerns about the US position with the rest of the world following data showing a record current account deficit in the second quarter.
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Stocks fell sharply after data showed factory activity contracted in December to its weakest since April 2003, underscoring worries about the economic slowdown.
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Major indexes slide 4% to 8% across the region as fears intensify that the U.S. will fall into a recession, hurting exporters.
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The dollar hovered two cents above  recent record lows against the euro on Tuesday after U.S.  manufacturing data in the previous session cast doubt on jobs  growth and brought about a pause in its new year rebound.
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The dollar stalled on Wednesday after  weaker-than-expected U.S. economic data failed to provide new  direction for the market, as focus shifted to what the Federal  Reserve would say after an expected rate rise next week.
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The dollar fell to a fresh 20-month low  against the euro on Monday, carrying over its weakness from  late last week, when soft U.S. factory data reinforced  expectations that the Federal Reserve will cut interest rates  next year.