Short video review on the last business week by Reuters
Well, it seems that we have passed the worst business week since October 2002. The triple digits loses on the market due the fluctuation of the USD are most probably due the worries around the sub-prime market and the corporate financing I outlined in my financial review from 27th. In addition, I decided to add to my humble financial site the review of the real specialists - Reuters.
[youtube uRVYwAUOReY Reuters Business Week Video Review]
It is up to you to decide what is the situation indeed. The market is going complex and complex every single day and this makes this dangerous game so delicious!
Good news for the USD
This Friday we have good news for the USD. After the release of new statistical data showing the grew of the U.S. economy and the optimistic reviews for the second quarter the dollar strengthened it’s position. After falling down to $1.3628, the currency rejuvenate it’s position back to $1.3649 in the last hours of the New Your trading, however it still didn’t reach the Thursday’s high shot of $1.3718.
The expectations that the report of the U.S. Commerce Department will have effect on the market have been proven. On Friday they have shown the optimistic economy grew at a 3.4 percent in the second quarter of this year, mentioning the resurrection of many business areas and the investments in them, that obviously caused pretty good growth.
The same is happening also on the GBP/USD market. The late Thursday the situation was almost critic when 1GBP equals $2.0462. Luckily, shortly after the announcement of the U.S. Commerce Department the dollar stabilized back to $2.0270 per 1 GBP.
The situation with the Japanese yen is not so optimistic - the dollar dropped to 118.40 before edging up to 118.78 on Friday, however it remained under the edge of 119.46 that reached the late Thursday.
The media and the government as well the financial specialist in U.S. suppose that the most evident reason for the weakening dollar is the unstable inflation that is not going with the temps expected. In addition, due the gasoline price rise and the housing problems the individuals prefer not to play tough and the caution is on first place and as result this means less investments.
At this time I will prefer to watch as well, as I don’t believe that the USD rise is permanent. The ‘crisis’ has not disappeared yet, although there is a sun ray in the cloudy USD sky from the previous quarter.
E-money-info.com now offers instant currency converter!
Hello fellows. XE.com have released great currency converter. Now you can instantly calculate the differences between more than 85 currencies! I have included this tool on the site of e-money-info.com as well. You can try it here:
http://blog.e-money-info.com/currency-converter.html
I have also added the link to the sidebar of our site so you can easily access it in case you need to make a quick currency conversion. I believe you will like this implementation and will have useful tool at hand when building your FOREX future!