Foreign exchange bureaus at Bakara, Somalia's largest open-air market Mogadishu, reopened on Tuesday after a two-day closure. The bureaus closed two days ago after an anonymous note dropped at the market last Sunday ordered those dealing in foreign exchange to

The tight Canadian credit markets have remained a concern for the BoC. Therefore, the central bank will infuse another C$2 billion in liquidity into the market on April 17, when they purchase securities with treasuries. The MPC's fretting has led

Euro surges to a new all time high of $1.5966 after Eurozone March inflation was unexpectedly revised to a record 3.6% y/y from the initial 3.3% estimate, validating the European Central Banks' relentless hawkish rhetoric and further dampening any chances

There were few surprises from the frontline inflation readings for the US, which may leverage greater weight on the otherwise battered dollar. According to the Labor Department's data, prices for goods comprising the broad consumer basket rose 0.3 percent through

Consumer prices rose 0.3 percent and prices excluding food and energy items rose 0.2 percent. Both gains were in line with expectations and possibly even a little better than that. The core CPI was actually rounded up to 0.2 percent

Week after week I have called for the EUR/USD to break 1.60. Today, the currency pair hit an all time high and is inching ever so closer to that target. It will just be a matter of time before that

Housing starts fell to a new cycle low of 947k with considerable drops in both single and multi-family products. Single family starts are now down to 680k, a level not seen since early 1991. Permits also continued to move down

My working count suggests that the fall started from 2.0049 (4 April) is a terminal impulse (ending diagonal). If this idea is correct, we should see one more fall below 1.9598 in wave 5. With an eye on this idea

How much higher can the euro climb against sterling? Price action on the EUR/GBP daily chart, as shown, displays the sheer magnitude of the steep ascent that has occurred within the past half year or so. Parallel uptrend lines (represented

GBPCHF: There are 5 waves down from the October high at 2.4205. This may comprise wave 3 of what turns out to be a 5 wave drop from 2.4963. Under this count, a 4th wave is underway now and could

Hyperinflation and increasing insecurity have forced Somali businessmen to demand payment in US dollars, creating difficulties for ordinary people with limited access to the greenback, traders said.

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Earlier this week Covad Communication held a shareholders meeting where the majority approved the agreement and plan of merger pursuant to which an affiliate of Platinum Equity will acquire all outstanding shares of Covad for $1.02 per share in cash.

Shares in Kodiak Oil & Gas (AMEX: KOG) , an oil and gas exploration and production company with assets in the Green River Basin of southwest Wyoming and the Williston Basin of North Dakota and Montana, continued their ride up

European inflation rose more than expected to 3.6%, nearly a 16 year high .Energy prices increased and food costs reach record levels, with dairy products and breads and cereals seeing major jumps of 14.3% and 9.0% respectively. The breakneck pace

Hotter than expected CPI data out of the Eurozone propelled the euro through the 1.5900 level in early European trade as focus returned to inflation which will likely continue to dictate a restrictive monetary policy from the ECB for the

The March inflation numbers have sprung no major surprises. Headline inflation posted a 0.35% m/m reading, keeping the annual inflation rate unchanged at an elevated rate of 4.0%. Core inflation was a bit on the soft side, rising by 0.15%

On our weekly outlook last Friday, we referred to the triple top formation in EURUSD and drew attention to this week's key U.S. inflation and housing data in potentially taking the pair above 1.60 level in a fourth attempt to

In the currencies commodities continued have an impact on the weak USD scenario throughout the European session as Crude hit fresh all-time highs above $114.35 and gold tested the $935-level. The EUR/USD tested the 1.5940-level following the March CPI data