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4X4X · 28-08-2004, 03:49

Its a weekend, if find the opportunity to look into the market moves in the last week and redefine the strategy for the next week.

We have seen consistent strength of dollar in the last week:

* USD/CHF climbed from 1.2517 to 1.2840
* EUR/USD was dragged from 1.2312 to 1.2012
* GBP/USD dipped from 1.8184 to 1.7892

Almost 300 pips against CHF, EUR & GBP. EUR/USD touched the low the of past 3 months.

If we consider the events which took place in the past week, one was oil price touched the hightest of $50/barrel, then eased to $43/barrel and US troops in Najaf, Iraq got some success. There wasn't any significant move on last week's economic inidcators.

In my opinion, the events of the last week does not justify the strength of dollar, any comments?

28-08-2004, 03:49	#1 (permalink)
4X4X level 3 Join Date: May 2004 Posts: 467 Rep Power: 0	Dolllar's Strength, Reasons Its a weekend, if find the opportunity to look into the market moves in the last week and redefine the strategy for the next week. We have seen consistent strength of dollar in the last week: * USD/CHF climbed from 1.2517 to 1.2840 * EUR/USD was dragged from 1.2312 to 1.2012 * GBP/USD dipped from 1.8184 to 1.7892 Almost 300 pips against CHF, EUR & GBP. EUR/USD touched the low the of past 3 months. If we consider the events which took place in the past week, one was oil price touched the hightest of $50/barrel, then eased to $43/barrel and US troops in Najaf, Iraq got some success. There wasn't any significant move on last week's economic inidcators. In my opinion, the events of the last week does not justify the strength of dollar, any comments?