financial news

The unemployment rate fell to 9.5% from 9.7%, but this likely reflects people dropping out of the labor market.  The work week fell 0.1%, which is the equivalent of about 300k job loss.  The private sector 83k jobs and the May…

Highlights The US dollar is mixed ahead of the monthly jobs data.   It is generally consolidating yesterday’s losses against the European currencies and Japanese yen, while slipping against the dollar-bloc.  The increased…

On jobs, labour mobility and the stickiness of wages Macroeconomics Doubtbook, Installment 3, Arnold Kling | EconLog | Library of Economics and Liberty The Usual Fare AppleInsider | Apple sued over iPhone 4 reception issues…

US data have been disappointing.  The weekly initial jobless claim increase has been followed by a weaker than expected ISM manufacturing report.  The ISM fell to 56.2 from 59.7. The consensus had anticipated a smaller decline to…

Highlights The US dollar is mostly lower.   The euro is the strongest of the majors, gaining across the board.  The week’s high was set on Monday just below $1.24 and unless this is taken out, it simply seems like range…

From BBH's Win Thin The IMF just released its quarterly report on currency shares of global reserves.  In Q1 10, the dollar’s share fell slightly to 61.5% from 62.2% in Q4, while the euro’s share fell to 27.2% from 27.3% in Q4 and…

Must-reads Rajiv Sethi: On Blogs and Economic Discourse Time to shut down the US Federal Reserve? – Telegraph Blogs The Usual Fare Morgan Stanley - Global Economic Forum - The Case for Argentina Leaving oil spill alone…

Highlights The US dollar is generally softer, consolidating yesterday’s moves.  In fact, the three best performers yesterday and for the month of June, namely the Swiss franc, British pound and Japanese yen, are the laggards…

In defense of bloggers on the economy Marginal Revolution: How hard is economics? Signal and Noise in Economics Writing, Arnold Kling | EconLog | Library of Economics and Liberty Matthew Yglesias » Do I Have Anything Interesting…

Highlights The US dollar is broadly higher, alongside the Japanese yen, amid heightened anxiety over the possible stalling of the global economic recovery and the fragility of the banking system.  The euro has borne the brunt of…