Dollar Has 4th Straight Weekly Drop Versus Euro on Jobs Losses
March 7 (Bloomberg) -- The dollar dropped for a fourth straight week against the euro after a government report showed the U.S. unexpectedly lost jobs for a second consecutive month in February.
The U.S. currency fell to the weakest ever against the euro and an eight-year low versus the yen as the report bolstered speculation the Federal Reserve will cut interest rates this month for a sixth time since September. The currency rose from the day's lowest levels as the Fed said it will boost loans to banks, leading traders to trim bets on a cut of as much as a full percentage point at the central bank's March 18 meeting.
``There is the view that we're quickly sinking into recession and that the Fed only has a limited ability to offset that,'' said Michael Woolfolk, senior currency strategist in New York at the Bank of New York Mellon Corp. ``We will certainly see more dollar weakness from here.''
Complete article from Bloomberg.com
March 7 (Bloomberg) -- The dollar dropped for a fourth straight week against the euro after a government report showed the U.S. unexpectedly lost jobs for a second consecutive month in February.
The U.S. currency fell to the weakest ever against the euro and an eight-year low versus the yen as the report bolstered speculation the Federal Reserve will cut interest rates this month for a sixth time since September. The currency rose from the day's lowest levels as the Fed said it will boost loans to banks, leading traders to trim bets on a cut of as much as a full percentage point at the central bank's March 18 meeting.
``There is the view that we're quickly sinking into recession and that the Fed only has a limited ability to offset that,'' said Michael Woolfolk, senior currency strategist in New York at the Bank of New York Mellon Corp. ``We will certainly see more dollar weakness from here.''
Complete article from Bloomberg.com
1. Thursday is was reported that homeowners are more in debt with their homes than they have equity in their homes........
2. We are in a bear stock market
3. Gas is over 3.30 in most locations
4. Food prices are raising as fast as a Costa Rican fever.
5. Insurers are leaving Florida....and what if the state is hit by more hurricanes this year?
6. Politicians don't want us to gamble online
7. Warren Buffet says we are in recession........NUFF SAID
8. TTinCO agrees with W. Buffet
2. We are in a bear stock market
3. Gas is over 3.30 in most locations
4. Food prices are raising as fast as a Costa Rican fever.
5. Insurers are leaving Florida....and what if the state is hit by more hurricanes this year?
6. Politicians don't want us to gamble online
7. Warren Buffet says we are in recession........NUFF SAID
8. TTinCO agrees with W. Buffet
a couple of Months ago I was considering a hedge on the Money Markets but betting is time consuming enough without having to become involved with putting Money in Financial accounts. Matchbook has made it worth the problem over the last Year but things are certainly getting tighter there, I got a feeling a lot of books are sticking their snouts in and making all the markets that much keener. :drink:
If you think the stock market sucks right now, wait until oil goes up let's say another $25. These media clowns keep talking about the extra $5-10 it costs the average family a week drive me nuts.
The ripple effect through the business world is SOOOOOO much more of a problem than that, it's not even funny.
Good luck to whoever ends up getting elected president, because they are going to inherit one hell of a very, very serious mess.
You know it bad when the fed is cutting the interest rate like madmen & things are still going to shit.
The ripple effect through the business world is SOOOOOO much more of a problem than that, it's not even funny.
Good luck to whoever ends up getting elected president, because they are going to inherit one hell of a very, very serious mess.
You know it bad when the fed is cutting the interest rate like madmen & things are still going to shit.
Of course your right My Sharp friend. Its also compounded by Bank charges, netellers commission and the stealing on the exchange rate so one gets pushed into keeping any Funds in the accounts. Personally thats OK as Her in Doors would make mice meat of it if it got this side of the Atlantic. :drink:
