Jul

15

Despite the news about the debt in the US and the crisis in Europe, the S&P danced up and down in a trading range for weeks. It is a sign of uncertainty but also a sign of strength in times of bad news. I find interesting however that the dollar remained pretty weak over the past weeks which means markets are weighing more the problems of the Us debt rather than the Euro crisis. In fact, last year in May the dollar went down to 1.19 when the problems of the Greek bailout started. Today it is above 1.40.


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