Peso/Dollar closes lower today

Peso/Dollar exchange based on Philippine dealing system rates closed lower today with P44.950 vs. $1.

Oil prices edges down on Asian Trend

Oil prices edged slightly down in Asian trade Thursday after soaring in the US the previous day on strong US manufacturing data, analysts said.

New York's main contract, light sweet crude for October delivery, slid six cents to $73.85 a barrel.

Brent North Sea crude for delivery in October fell 24 cents to $76.11.

Ong Yi Ling, investment analyst at Singapore-based Phillip Capital, said the slight easing in prices was not indicative of market sentiment right now.

AFP

Peso/Dollar exchange closes lower today

Peso/Dollar exchange based on Philippine dealing system rates closed lower today with P45.080 vs. $1.

Peso/Dollar exchange closes lower today

Peso/Dollar exchange based on Philippine dealing system rates closed lower today with P45.2489 vs. $1.

Oil prices fell below $74 a barrel, Asia

Oil prices fell below $74 a barrel Tuesday in Asia, extending losses from the previous session as global stock markets slump after a disappointing US consumer spending number.

Benchmark crude for October delivery was down 71 cents to $73.99 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost 47 cents to settle at $74.70 on Monday.

Oil traders have been following closely global stock markets as a barometer of overall investor sentiment. The Dow Jones industrial average dropped 1.4 percent Monday after the Commerce Department said consumer spending in the U.S. rose just 0.4 percent in July.


AP

Forex closes higher today

Peso/Dollar exchange based on Philippine dealing system rates closed higher today with P45.200 vs. $1.

Americans now at risk of losing their homes

Jobs crisis is putting more Americans at risk of losing their homes.

One in 10 households has missed at least one mortgage payment, and more than 2 million homes have been repossessed since the recession began. Few expect the outlook to improve until companies start to hire steadily again and layoffs ease.

And while there was some good news Thursday — a modest decrease in the number of Americans filing for jobless benefits for the first time in a month — the figure is still too high to bring down the unemployment rate.

So the housing crisis goes on, even though the average rate on a 30-year mortgage fell again this week to an all-time low of 4.36 percent.

"Ultimately, the housing story, whether it is delinquencies, homes sales or housing starts, is an employment story," said Jay Brinkmann, the top economist for the Mortgage Bankers Association.



AP

Peso/Dollar exchange closes lower

Peso/Dollar exchange based on Philippine Dealing system rates closed lower today with P45.130 Vs. $1.

US recovers from weak stocks

It was shaping up to be another crummy day on the stock market Wednesday until investors decided to start looking for beaten-down shares after four straight days of declines.

The Dow Jones industrial average fell as much as 102 points in the first hour of trading after the latest batch of weak reports renewed fears that the economy was slowing down. Sales of new homes fell to their lowest pace on record in July, and durable goods orders were also weak.

But after four straight days of avoiding risk, traders began edging out of safe assets like Treasurys and back into stocks. The Dow ended with a gain of 19.61 points, or 0.2 percent, at 10,060.06.


AP

Peso/Dollar exchange closes lower today

Peso/Dollar exchange based on Philippine dealing system rates closed lower today with P45.285 vs. $1.