The dollar gained on the euro Thursday, as traders flocked to safe havens amid mounting concern that the U.S. and European economies are heading for a double-dip recession.
Global stocks were hammered following a report saying the Federal Reserve Bank of New York is intensifying its scrutiny of the U.S arms of many European banks, amid speculation the banks are facing funding difficulties.
Earlier this week, official data showed the euro zone economy, including powerhouse Germany, slowing to a crawl in the second quarter.
Today’s dismal economic news from the U.S. did nothing to alleviate anxieties.
U.S. existing home sales unexpectedly declined in July despite historically low interest rates and falling prices, as credit conditions remained tight, according to industry figures.
Total existing-home sales fell 3.5 percent to a seasonally adjusted annual rate of 4.67 million in July from an upwardly revised 4.84 million in June, data from the National Association of Realtors (NAR) revealed.
Manufacturing activity in the Philadelphia area plunged to its lowest in two years in August, according to a report released by the Federal Reserve Bank of Philadelphia.
And initial jobless claims rose to 408,000 from the previous week’s revised figure of 399,000, the Labor Department said.
The dollar improved to $1.43 versus the euro, up two cents from yesterday’s lowest levels. The pair have been locked in a stalemate for months, with traders expressing little enthusiasm for either the dollar or euro.
Early gains took the dollar to within a penny of parity with its Canadian counterpart, as oil prices dropped sharply.
Meanwhile, the buck drifted toward last week’s record low of Y76.28 versus the yen, but again found support near 76.50.
The dollar eased to CHF 0.79 versus the Swiss franc, despite this week’s announcement from Swiss authorities that they will act to weaken the franc.
Morgan Stanley lowered the global growth outlook for this year to 3.9 percent from 4.2 percent. The projection for next year was cut to 3.8 percent from 4.5 percent.
The bank cited inadequate policy response, disappointing data and prospects of further fiscal tightening for the action.
Zune and iPod: Most people compare the Zune to the Touch, but after seeing how slim and surprisingly small and light it is, I consider it to be a rather unique hybrid that combines qualities of both the Touch and the Nano. It’s very colorful and lovely OLED screen is slightly smaller than the touch screen, but the player itself feels quite a bit smaller and lighter. It weighs about 2/3 as much, and is noticeably smaller in width and height, while being just a hair thicker.
The new Zune browser is surprisingly good, but not as good as the iPod’s. It works well, but isn’t as fast as Safari, and has a clunkier interface. If you occasionally plan on using the web browser that’s not an issue, but if you’re planning to browse the web alot from your PMP then the iPod’s larger screen and better browser may be important.
This is getting a bit more subjective, but I much prefer the Zune Marketplace. The interface is colorful, has more flair, and some cool features like ‘Mixview’ that let you quickly see related albums, songs, or other users related to what you’re listening to. Clicking on one of those will center on that item, and another set of “neighbors” will come into view, allowing you to navigate around exploring by similar artists, songs, or users. Speaking of users, the Zune “Social” is also great fun, letting you find others with shared tastes and becoming friends with them. You then can listen to a playlist created based on an amalgamation of what all your friends are listening to, which is also enjoyable. Those concerned with privacy will be relieved to know you can prevent the public from seeing your personal listening habits if you so choose.
Can I just say what a relief to find someone who actually knows what theyre talking about on the internet. You definitely know how to bring an issue to light and make it important. More people need to read this and understand this side of the story. I cant believe youre not more popular because you definitely have the gift.
I’ll gear this review to 2 types of people: current Zune owners who are considering an upgrade, and people trying to decide between a Zune and an iPod. (There are other players worth considering out there, like the Sony Walkman X, but I hope this gives you enough info to make an informed decision of the Zune vs players other than the iPod line as well.)
The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.
The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.
Sorry for the huge review, but I’m really loving the new Zune, and hope this, as well as the excellent reviews some other people have written, will help you decide if it’s the right choice for you.
Between me and my husband we’ve owned more MP3 players over the years than I can count, including Sansas, iRivers, iPods (classic & touch), the Ibiza Rhapsody, etc. But, the last few years I’ve settled down to one line of players. Why? Because I was happy to discover how well-designed and fun to use the underappreciated (and widely mocked) Zunes are.
This is getting a bit more subjective, but I much prefer the Zune Marketplace. The interface is colorful, has more flair, and some cool features like ‘Mixview’ that let you quickly see related albums, songs, or other users related to what you’re listening to. Clicking on one of those will center on that item, and another set of “neighbors” will come into view, allowing you to navigate around exploring by similar artists, songs, or users. Speaking of users, the Zune “Social” is also great fun, letting you find others with shared tastes and becoming friends with them. You then can listen to a playlist created based on an amalgamation of what all your friends are listening to, which is also enjoyable. Those concerned with privacy will be relieved to know you can prevent the public from seeing your personal listening habits if you so choose.