EURO vs USD

[J. Abizeid]

Such bad news for the dollar are totally ignored by the media until the Olympics party is over.
Once the dust settles, we’ll see a different picture.
They are not even making a big deal out of the Georgia war. Oil is still down. What happened to speculations? Not needed for the time being………

http://www.marketwatch.com/news/story/fannie-freddie-headline-losers-among/story.aspx?guid=b7b89c8b%2d8a48%2d40e1%2d98cf%2db4 ed5d2e5113

Fannie, Freddie headline losers among financials
By Joyce Koh, MarketWatch
Last update: 3:16 p.m. EDT Aug. 11, 2008
NEW YORK (MarketWatch) -- Shares of Fannie Mae and Freddie Mac headlined losses among financial stocks Monday, although the broader sector revived itself after a tepid start to the week.



Fannie's shares of fell almost 8% in midday trading to $8.40, hit by a downgrade by one research firm and continued disappointment over the mortgage giant's weak second-quarter results.
In reporting a worse than expected second-quarter loss of more than $2 billion Friday, Fannie (FNM: Fannie Mae
News, chart, profile, more
Last: 8.40-0.65-7.18%
4:00pm 08/11/2008


FNM 8.40, -0.65, -7.2%) showed the housing market continued to have an uphill battle ahead. See full story.
Keefe Bruyette & Woods downgraded the mortgage giant and slashed its price target to $10, down from $48 previously, citing higher credit-loss estimates and limited appreciation prospects.
Meanwhile, sister company Freddie Mac (FRE: Freddie Mac

[Raficoo]

Originally Posted by J. Abizeid

So don’t be fooled, the euro will beat its own record of $1.60 by December.

Good thing i won't be in Europe at that time

but i doubt that's gonna happen unless something big happens

[ORSEC]

Nasdaq closed at 1.4876-1.4906

[Raficoo]

Euro is 1.48064 now

[Raficoo]

Update:1.47807

lower.....lower..

[suomynona]

Any currency traders here?

[Chief]

lowest today is 1.4697, now its moving around the 1.471

[Raficoo]

1.46672


Lower Lower Lower

[Xena]

1.476 going up again!

[J. Abizeid]

Originally Posted by Xena

1.476 going up again!

Oil rises above $114 after dollar weakens vs euro: Financial News - Yahoo! Finance
Crude oil rises above $114 a barrel after dollar weakens vs euro, heating oil surges

That’s exactly how the petrodollar system works. Yesterday the euro exceeded $1.48; there was no reason for oil to go up other than to compensate for the dollar loss.
Unless they come up with some fake cover up for the continuous degradation of the US economy, the euro will start going up steadily shortly after the end of the Olympics and will accelerate even more after the November elections.
Unfortunately, oil will have to rise again but it won’t be as bad if you live in a euro economy.