"Retail sales were very disappointing for investors bettingon the recovery story and for euro bulls," said BorisSchlossberg, director of FX research at GFT in New York. "The whole trade in the currency market has been driven bythat recovery," he said, and Wednesday's data belied thoseexpectations. The dollar's uptrend this past year was consistent withsafe-haven flows as a global slowdown accelerated, withinvestors brushing off the country's extreme fiscal weakness.But that support is expected to fade once investors price inthe United States' enormous debt load over the next severalyears. In midday New York trading, the euro fell to session lowsagainst the dollar to $1.3567 EUR=, according to electronictrading platform EBS, but last traded at $1.3618, down 0.2percent on the day The euro earlier hit hit a seven-week highof $1.3722 on EBS. The ICE Futures' dollar index rose 0.2 percent on the dayto 82.440 .DXY, having hit a four-month low of 81.871. The dollar fell earlier to fresh lows after an article inthe Financial Times flagged a risk of the United States losingits top sovereign credit rating. While analysts warned against reading too much into thearticle since the United States has run persistent and growingbudget deficits for years, they said a downgrade would havehuge economic, political and financial implications.
Sterling fell against the dollar after the Bank of Englandsaid it expects anemic UK inflation and the economy to recovermore slowly than previously thought The pound was down 0.6percent on the day at $1.5177 GBP=. The British currency's sharp fall relieved some of theselling pressure on the dollar that had intensified since lastweek's break below key 200-day and 200-week moving averagesupport levels on technical charts.The euro has also broken above similar moving averagesagainst the dollar. GFT's Schlossberg said investors had bought currencies suchas the euro and pound the last few weeks in anticipation of aneconomic rebound. But with the retail sales data, he said therewas now "considerable doubt" in the market that this wouldhappen anytime soon. Meanwhile, the dollar slid 0.8 percent against the yen to95.69 JPY=, a two-week low. Talk about the potential for fundrepatriation flows from Japanese investors related toredemptions and coupon payments on U.S.
Treasuries this weekalso helped push the dollar lower against the yen, traderssaid. The Australian dollar fell 0.7 percent to US$0.7596 AUD=,while the New Zealand dollar dropped 1.7 percent to US$0.5949NZD=. Currencies Global Markets Japan. Some Destinations Gain Popularity Despite Economic Challenges and ProvideVacation Deals for TravelersSOUTHLAKE, Texas--(Business Wire)--Travelocity`s ( ) most recent summer travel data revealssome domestic destinations have increased in popularity despite many travelersreducing their vacation budgets. In Travelocity`s most recent poll, one-third ofrespondents reported a reduced summer vacation budget as compared to last year.These summer hotspots will benefit from an increase in popularity, despite atroubled economy. In an analysis of the top 25 destinations for summer travel, Travelocity editorsidentified the 10 domestic summer hotspots with the largest share increases whencompared to 2008. What makes them so popular now? These destinations have someof the steepest drops in airfare in the country and vacation deals areplentiful. With hotel rates down in most places - in some cases as much as 30 percent -travelers will have no trouble finding deals in these destinations for theirsummer vacations.
Airfare also continues to drop with an average domestic summerfare of $299, 17 percent less than last year. "With travelers expected to take more domestic trips this summer these citiesand their tourism businesses will benefit from a surge in popularity," said AmyZiff, Travelocity editor-at-large. Top 10 Summer Hotspots Include: Destination Share Increase Minneapolis / St. Paul13 percent Salt Lake City13 percent San Francisco 12 percent Las Vegas 11 percent Seattle 11 percent Chicago 10 percent Washington, D.C.10 percent Portland (OR) 9 percentSan Diego 8 percentBoston7 percent Where are these destinations luring visitors away from? Some of the country`sclosest neighbors have lost visitor share this summer: Canada (down 8 percent),Mexico (down 19 percent) and the Caribbean (down 21 percent). For more information on summer getaways, visit The Window Seat® Travel Blog.About Travelocity GlobalTravelocity is committed to being the traveler's champion -- before, during andafter the trip - and provides the most comprehensive and proactive guarantee inthe industry (). This customer-driven focus, backedby 24/7 live phone support, competitive prices and powerful shopping technologyhas made Travelocity one of the largest travel companies in the world withannual gross bookings of more than U.S $10 billion. Travelocity also owns andoperates: Travelocity Business for corporate travel; igougo , a leadingonline travel community; lastminute , a leader in European online travel; andZUJI, a leader in Asia-Pacific online travel.
Travelocity is owned by SabreHoldings Corporation, a world leader in travel marketing and distribution. VOLLMERKate Sutherland, orAshley Johnson, Copyright Business Wire 2009. DUBLIN--(Business Wire)--Research and Markets( http://) hasannounced the addition of Supplier Relations US, LLC's new report "Bread andBakery Product Manufacturing Industry in the U.S and its Foreign Trade [2009Edition]" to their offering. The Bread and Bakery Product Manufacturing Industry report is the mostcomprehensive market research report available on this industry. With complete2008 data and sophisticated forecasts for 2009, the report provides the mostupdated data and analysis on the industry's key financial data, cost andpricing, competitive landscape, industry structure, and trends andopportunities. This 163-page report includes the most recent information on the domesticmarket, global market and overseas growth opportunities. This detailedinformation resource, independently researched and supported by 10 years ofhistorical data, identifies best and worst case scenarios of today's pressingchallenges.

admin
Posted in
RSS Subscription!