Jobs taking a hit as the markets reel!

The world markets reeled from the effects of the Oil prices hitting new heights at $106 per barrell. If that was not bad enough employers had to slash jobs to such a large extent that recession seems to be the mantra on everyone's lips. One can almost feel sorry for whoever the next president is going to be, because when all is said and done, the recession is not going to hit the bush aministration but the buck is going to be passed to the next commander-in-chief.
The corporates have take a hit and as such are pushing it all onto the employees. High fuel prices, unstable economy and a dollar that is determined to go all the way to the basement has all contributed in one form or the other to the latest slasher drive by the corporates!

Wall street in a flutter as the Fed slashes rates!

Under normal circumstances, the news of the Fed slashing interest rates by as much as 75 basis points would have bought the bull out on a rampage in the markets. But these days it seems that the bull has gone into hiding and is just not interested in coming out.

The economy is fast heading for a tailspin, so the Fed slashed rates as a way of preventing recession from taking hold. All that the Fed have managed to do is to make the Dollar even weaker and this slashing of the rates by as much as 75 basis points has not bought any cheer to the markets. The markets see it as an indication that the recession is not all that far away and that it is time to batten down the hatches.

The Wall Street seems to have been in two minds, with momentum swinging from the red to the green and all the way back to the red. This move by the Fed many have dumped about $50 billion into the financial markets but it seems that this latest move has no takers and could well rush the Dollar into some rather stormy waters.

Forex update!

The Forex market is a much better money maker than the share market ever was, as this market is governed more by logic than emotions. There are many of us who have heard a lot of the Forex market and yet do not understand the intricacies of the financial world as such. We are all left to ponder as to what the Forex is all about and how do we invest in it and what is our risk exposure and et all.

The Forex market presents an interesting opportunity for both professionals and amateurs alike, to make some good money on their returns. But some of the factors that attracts so much attention to this market is the fact that in the Forex market, one can make money both ways, whether the market goes up or goes down, unlike the share markets. And the other interesting feature of this market is that the investment you put in the market is then ‘hedged’ to a larger margin, thereby netting you greater profits.

This blog was started initially with the idea of exploring ways to make money, but then I got a lot of emails asking me for info on the Forex market as well as the metal markets. So, I have decided to give daily/weekly updates on the Forex markets, metal markets and the Oil rates. The Forex news for today is given below and hope that you will enjoy it and would make it a point to visit this blog often for such updates!

Todays update:

Yen gains against all currencies – The Yen seems to have gained almost against all the currencies listed in the board, with the current trading against the Dollar set at 108.99 per Dollar. This is due to mainly the economy woes in the United States market, the Housing muck-up and the credit crunch. The reality is that no one knows the true exposure of the Banks to the Mortgage crisis and as such, it is to be expected that the markets will be a little nervy. But the Yen, seems to be all bent on trying tom reach for the $100 level. Will this happen? That may well do so and it is the one thing that is bound to give the Japanese central bank and the government many sleepless nights to come!

Which Dollar is weaker?

The Canadian Dollar seems to be setting the record for weakening against the weakest currency today, the U.S Dollar. The Canadian Dollar ahs fallen to $1.0222 per U.S. dollar,its lowest since December. Be that as it may, one of the main causes for this fall is purported to be the job losses that the Canadian economy had to put up with quite recently.
As it is, the Dollar is setting all sorts of record for the day and one can expect that the Canadian Dollar will fall even more, come tomorrow!

Avon calling no more?

Avon, the brand leader in women's beauty products is planning to shed some 2400 jobs as a result of its restructuring. The restructuring plans have proves a bit costly to Avon and as a result it is shedding some 2400 jobs, all across the board.
Coming at a time when the unemployment is high in the United states and with the economy being the way it is, one would not be all that surprised if Avon was to move over to India and just set up a back end here in the United states.
These are the days when the nickel and dimes are more important and the recent restructuring plans of Avon will save it a cool 240 million$. Of course, once they are on the road to cutting costs it is not going to be all that long before Avon moves altogether to a country like India where the costs are quite minimal in spite of the recent tumble in the Dollar values versus the Rupee!