Katrina Pain Index: New Orleans Three Years Later

" Katrina hit New Orleans and the Gulf Coast three years ago this week. The president promised to do whatever it took to rebuild. But the nation is trying to fight wars in several countries and is dealing with economic crisis. The attention of the president wandered...

Renminbi rise ‘less necessary’

" By Martin Wolf in London and Geoff Dyer in Beijing Published: August 31 2008 22:21 | Last updated: August 31 2008 22:21 China does not need to accelerate the appreciation of the renminbi against the US dollar, according to Cheng Siwei, vice-chairman of the...

Biggest Fall in Oil Since 2004

After worries that growing tensions between Russia and the US over Georgia could degenerate into a war led to higher prices this week there has been a big reversal, a fall in the price of oil of 5.4%. Conversely, the dollar is up."Crude oil prices fell more than 5.4 percent...

Oil and Gold Down, Dollar Still Going Up

Oil - down."A rapidly cooling global economy and an increase in supply from Opec nations will see the price of oil ease next year. In its latest monthly market report, the International Energy Agency looks to a "potential easing in...

Sovereign funds fly out dollar deposits

In reaction to growing US dollar weaknes, some sovereign wealth funds decided to reduce their exposure to that currency. According to the following FT article "Behind the scenes, fund officials are questioning the credibility of the Federal Reserve and US Treasury in...