UNITED STATES

Daily forex forecast 02/7/2010

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A slightly lower than forecast 0.2% May Retail Sales result coupled with a 6.6% fall in Building Approvals for the same month saw the Aussie dollar momentarily dip below 0.8320 during yesterday's local session.

Australian Dollar Outlook 02/7/2010

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The AUD has opened slightly firmer today after it was announced the government and the mining industry had reached a deal on the new profits tax late yesterday.
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Weather hinders oil cleanup

Tropical storm Alex slowed oil spill clean-up and containment work in the Gulf of Mexico and drove more petroleum into fragile Gulf wetlands and beaches on Thursday, with any permanent fix to BP Plc's ruptured deep-sea well still several weeks away.
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U.S. government slowly adopting Web-based computing

The United States, seeking to modernize technology and reduce costs, is embracing cloud computing, but privacy and security issues need to be ironed out during a decade-long transition, U.S. officials said on Thursday.
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Airbus, Boeing spar again as appeal looms

Airbus and Boeing clashed over aid for the next generation of European passenger jets on Thursday, while details emerged on the battleground for possibly lengthy appeals following a major trade ruling on aircraft subsidies.
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June auto sales flat but Hyundai gains

Auto sales slipped in June from the previous month's pace and major automakers said there was no sign of the definitive second-half recovery that the battered industry had expected at the start of the year.
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Brokers also want to be your banker, lender

Big brokerages are working to boost banking and lending services to their clients, eager for new revenue to offset the squeeze from volatile markets and nervous clients clinging to low-margin bond and cash funds.
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Goldman says claims against AIG were legitimate

Goldman Sachs officials insisted demands for billions of dollars from insurer AIG ahead of a $182-billion government rescue package were based on legitimate market prices and denied gaming values for a massive payout.
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Global manufacturing growth cools in June

Manufacturing growth cooled around the world in June, with China hitting its slowest pace in more than a year and growth in the United States and Europe also easing -- further evidence that the global economic recovery is moderating.
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How Realistic Is a Change of US Policy Regarding Israel?

Whoever said it's all about the economy, stupid, got it only partially right. It is indeed all about the economy, or at least half of it is about the economy. The rest is about a country's national interest. Typically, nations act or react to situations involving one of the above-mentioned
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GM June U.S. sales up nearly 11 percent

General Motors Co reported a 10.7 percent rise in June U.S. sales, helped by strong demand for newly launched vehicles such as the Chevrolet Equinox crossover and a recovery in truck sales.
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Toyota mulling another recall; engines may stall

Toyota Motor Corp by Thursday morning had not yet alerted U.S. safety regulators of a recall of one Toyota and seven Lexus models for possible engine stalling while driving, a federal safety official said.
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Oil dives 4 percent on weak economic data

Oil fell more than 4 percent to below $73 a barrel on Thursday, its biggest dive in five months, as weak manufacturing data from China and the United States fueled concerns about faltering economic growth.
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Goldman says claims on AIG were legitimate

Goldman Sachs officials insisted demands for billions of dollars from insurer AIG ahead of a $182-billion government rescue package were based on legitimate market prices and denied gaming values for a massive payout.
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Dollar drops to 7-mo low vs yen on global growth concerns

The dollar fell to a seven-month low against the yen on Thursday as economic reports in both the United States and China added to investors' uncertainty about the global economic recovery. The euro, however, rallied broadly after European banks borrowed less money than expected from a European Central Bank's tender, cooling concerns over euro zone banks' funding issues.
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Growth worries undermine global stocks, commodities

World stocks fell to three-week lows on Thursday and commodity prices sagged after data showing China's rapid growth was losing steam added to worries about the strength of the global economic recovery. Wall Street looked set to track Asian and European peers lower with U.S. stock index futures all in the red.

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