Professor Mark J. Perry's Blog for Economics and Finance
The U.S. Dollar index for major currencies reached its highest level this year, and is at the highest level since December 21, 2007 (see chart above). Oil fell today by almost $5 per barrel in the spot market to $112.43 (brent spot) and $115.20 (WTI) and below $115 in the futures market. Stock market rose by +300 points. 
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
5 Comments:
Coincidence that this happens just at the start of the Bejing Olympics?
Maybe concidence but cooling of Chinese economy won't last for long, maybe two years or so after the Olympics. Iexpect much less, maybe less than a year.
After a correction of the USD to about 1.35 basis EUR or abouts, we could see another drop to new lows unless trade deficit improves and US rates go a lot higher while inflation is contained.
With a trade deficit like that, the only viable policy of US is a sliding USD and we could see EUR/USD around 2 by the end of 2009unless US politicians change their mind about transfering US wealth to other nations like China and India.
every journey begins with the first step.
here's a little perspective
You have about a week to week and a half and then I think you may get that smile slapped right off your sill face. 1328 don't forget to sell.
Surely helps airline companies! Here is my opinion. Feel free to object !
http://criticalpaths.blogspot.com/2008/08/airline-industry-high-and-dry.html
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