Monday, Jul 05, 2010
Hold on to your tin foil hats
Yahoo: Dollar tipping over the edge as traders eye US double-dip
The mood has darkened after a raft of data suggesting that the recovery from the financial crisis may now have run out of steam. In the US, the amount of money flowing around the economy has collapsed, while consumer confidence on both sides of the Atlantic has dipped ahead of the austerity measures intended to shore up Governments' finances.
Posted by happy mondays @ 03:23 PM (798 views) Add Comment
5 Comments
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1. Crunchy said...
I tried to tell tech about this ages ago but he wasn't having any of it. Was the euro ever under real pressure? lol
"Some things are more obvious to some than they are to others." Tin foil?... I love it!!
Le Crunch.
2. str 2007 said...
The last paragraph seems a little out date for this internet age (Friday was last week)
Techiemans link on Friday to Elliott Wave suggested a small pick up today and tomorrow for the S&P, Moneyweek also expected a small rise.
However further falls are predicted from most corners.
So, will the printing presses start up again as the markets fall or have we finished with that attempt now ?
Also is this just the dollars 'turn' to devalue after the £ and Euro have had their turn in an international government agreement ?
I suppose this is what will cause Gold to hit $2000 and ounse that's been so talked about. But watch out if you actually want Sterling as the value of your sterling Gold may fall if the Gold increases (priced in dollars) are due to the dollar falling in value.
3. techieman said...
A US double dip wont make the dollar weaker ... in fact the opposite.Just look at what happened to the dollar in 2008. The reflation from March 2009 coincided with falls in the dollar. Still thats just opinion.
I think the short-term down move in the dollar isnt over.... but it may be!
4. Crunchy said...
2.tech said...I think the short-term down move in the dollar isnt over.... but it may be!
Thanks for such insight tech. LOL The dollars finished. Make some money and trade with more conviction tech.
Confidence may follow suit. : )
RC~ wheezy and
5. mountain goat said...
Good to see the pull back has taken some of bullishness off the dollar. Gives me a bit more confidence in my dollar holdings, which I added to on Friday.