OPEC will see a record setting trillion dollars or more added to its purses for its exports of petroleum this year, if the price of the petroleum keeps above $100 per barrel, according to the International Energy Agency. The director of economic analysis of the International Energy Agency, Fatih Birol, explained that the number of [...]
Soybean futures are expected to report earnings between 35 and 45 cents per bushel today, at the Chicago Board of Trade, pushed higher by the results of the reports of the United States Department of Agriculture (USDA) said some traders. The USDA said that it believes soybean reserves will decrease as will the number of [...]
Freddie Mac (OTC: FMCC) reports that both long-term fixed and ARM’s rates rose slightly this week mostly due to continuing global unrest and inflation concerns. For the week ending March 31, 30-year fixed-rate mortgages had an average of 0.7 points and 4.86 percent interest for the week. That is up very slightly compared to last [...]
The high performance of American bonds pushed the dollar over 82 yen for the first time since the recent monetary intervention in Japan, and some economic indicators suggested that the greenback could be on the way to extend its earnings. The euro also rose to its highest level against the yen since last May as [...]
The International Monetary Fund (IMF) cut back its projections of growth for the Japanese economy this year after the earthquake and tsunami. It also cut back it estimate for the United States. The IMF lowered its calculation for the Japanese GDP to a growth of 1.4 percent from a projection of 1.6 percent published last [...]
Following in the footsteps of its iPhone app launch, America Airlines is launching the Mobile Million Sweepstakes for Android. One lucky winner will receive one million American Airlines AAdvantage miles. They are also giving away 30 Barnes & Noble NOOK Color, one a day for 30 days. The free app is part of American Airlines [...]
The average price of coffee climbed in the month of February to levels not seen since 1977. Mild coffee is on the verge of reaching its historical high price, mainly due to a drop in the supply versus an increasing demand according to the International Coffee Organization (ICO). For example, the price of the mild [...]
China’s Central Bank said on Monday that the increase in money and credit in the country is moving along with its goals of monetary politics. They also said they will maintain a tough stance to keep inflation under control. “The situation of the money and the credit in China is moving in the wished direction [...]
The price of petroleum went down yesterday to less than $104 per barrel as the Libyan insurgents recovered two key ports and announced that in a matter of weeks will resume the exports of the crude oil. The price is still 22 percent higher than mid-February when the turmoil in Libya removed 2 percent of [...]
Gold’s price moved down today in Europe as the expectation of rising interest rates in industrialized countries reduced confidence in the metal. Because of investors cautious attitudes, gold was not able to climb above the record price set last week. Weakness of the dollar, the uncertainty in the Middle East and concerns over a looming [...]