The Euro Currency ETF (Amex: FXE): 6:00 AM NYC time, December 1st: Just a quick follow up on last week’s “falling dollar” postings. What we are looking at is an apparent breakaway gap to a multi-year high. That is noteworthy and something to watch, especially with a recession likely in 2007, as has been discussed on Cubetrader.com for almost a year — remember the…
…yield curve first inverted last December and corporate growth and profit margins have peaked, along with housing and consumer spending. See my “The Coming Avalanche” posting from November 2004 and also the other articles in my “The Dollar”, “FX” and “The Economy” categories. All told the dollar is down 13% vs. the Euro this year and 7% in six weeks, which is phenomenal. One final note, rapid adjustments in currency values have a history of preceding rapid adjustments in equity values (and often interest rates). Cheers!
EURO CURRENCY / FXE POSTS:
Click here for an index of all of my recent Euro / FXE postings.
Like my blog? Want to get automatic email updates at a frequency YOU chose? Enter your email address at the top right of my blog and click “Subscribe.” The service is managed by Squeet.com and is private, SPAM-free and doesn’t cost a penny, so signup now! You can cancel at anytime by clicking the unsubscribe link in each email.
Already receiving my blog via email? Don’t forget to click the “Promote This Story” link on posts you like (links are in the emails you receive).
SEE SOME OF MY OTHER SITES: