Dollar trades near record lows versus euro - GoFuckYourself.com

Barefootsies · 07-19-2007, 09:17 AM

NEW YORK - The dollar traded near record lows versus the euro on Thursday over renewed concern about the health of the US housing market and as investors pondered the Federal Reserve?s next interest rate move.

The dollar reached its lowest levels in years on Wednesday following a speech by Fed Chairman Ben Bernanke in which he cut growth forecasts for the US economy for this year and next and said the hard-hit housing market will remain sluggish.

Bernanke is giving a second day?s testimony to Congress. Analysts expect his speech will reiterate Wednesday?s remarks on inflation.

?Less hawkish comments from (Ben) Bernanke yesterday are not helping the dollar,? said Steven Butler, director of foreign exchange trading at Scotia Capital in Toronto. ?He showed a little less concern about housing than he had let on before but it seems there is a lot of euro crosses dominating today and that?s keeping the euro well-supported.?

In mid-morning trading in New York, the euro was up 0.1 percent on the day at $1.3819, having hit $1.3834 on Wednesday according to electronic trading system EBS, its strongest level since its launch in 1999.

The dollar also touched a record low versus the euro on Wednesday on news two Bear Stearns hedge funds exposed to the risky subprime mortgage sector were now virtually worthless.

Sterling was down 0.2 percent at $2.0472 after softer-than-expected UK retail sales data, coming further off a 26-year peak of $2.0548 hit on Wednesday.

The dollar was up 0.2 percent at 122.09 yen but the dollar index, a measure of its value against a basket of six major currencies, was slightly down at 80.352.

The index fell to a 12-year low of 80.227 on Wednesday.

The Philadelphia Federal Reserve Bank will release its business activity index for July at 12 p.m. (1600 GMT) and the Fed publishes minutes from its June 27-28 policy meeting, where it kept key US interest rates unchanged at 5.25 percent.

The market currently reckons US rates will have to stay on hold or be cut at some point but analysts expect the Bank of England and the European Central Bank to raise rates in September, which is seen supporting the pound and the euro.

?The FX market has warmed to the idea that the Fed?s going to be on hold for the rest of the year so it will have to look elsewhere for direction, probably other asset classes. The dollar?s movements are very much dependent on how the US corporate bond market trades, at least for the time being,? said Paul Mackel, senior currency strategist at HSBC in London.

Riskier asset classes like corporate bonds, equities and emerging markets were steady to firmer on Thursday, while government bonds were weaker.

Currency markets showed little reaction to data from Beijing on Thursday that showed China?s economy in the second quarter grew at a sizzling 11.9 percent, the fastest pace of growth in 11 years.

http://www.khaleejtimes.com/DisplayA...ction=business

hjnet · 07-19-2007, 09:55 AM

I hope it'll get better after the 2008 US elections

tranza · 07-19-2007, 10:05 AM

I couldn't be more sad.

Rumbo · 07-19-2007, 10:11 AM

Quote:

Originally Posted by hjnet

I hope it'll get better after the 2008 US elections

good call.... the US will be buoyed by the prospect of that dumfuck getting out of office.

Dollar has to recover after that

Dirty F · 07-19-2007, 10:14 AM

Losing so much money :/

Barefootsies · 07-19-2007, 10:59 AM

Quote:

Originally Posted by Dirty Franck

Losing so much money :/

webgurl · 07-19-2007, 12:14 PM

Quote:

Originally Posted by Rumbo

good call.... the US will be buoyed by the prospect of that dumfuck getting out of office.

Dollar has to recover after that

It may recover but not by much , so don't hold your panties
in a bunch

MaDalton · 07-19-2007, 12:22 PM

i want to throw up every day :-/

yumma · 07-19-2007, 01:58 PM

it's all about oil shit

tg989 · 07-19-2007, 02:00 PM

maybe the canadian dollar will go over 1:1 with the us$ :D

Calico Jack · 07-19-2007, 02:27 PM

The Aussie dollar's been around 87-89 cents lately whenever I go to the bank.
I almost cry for the day's when I used to double my money. There was little sweeter than rocking up with a handful of checks and walking out with twice the amount.
I doubt we'll see those days agin anytime soon.

Violetta · 07-19-2007, 02:28 PM

The last payout was a SHAME. The Norwegian Krone is very strong, and the us dollar is very weak. The payout sucked!

_Richard_ · 07-19-2007, 02:39 PM

yea, the canadian dollar has been doing fantastic as well

posh rat in hell · 07-20-2007, 06:43 AM

1 USD = 1 CAD just about now .... that's just damn scary

gramog · 07-20-2007, 07:41 AM

I'm shooting in Hungary and am making 30% less profit, than when I started 4 years ago, because the US dollar is so low!

da man · 07-20-2007, 07:44 AM

Quote:

Originally Posted by posh rat in hell

1 USD = 1 CAD just about now .... that's just damn scary

...and more great news are coming..

JP-pornshooter · 07-20-2007, 09:49 AM

i love selling content in europe.. nice euros..

zabijaq · 07-20-2007, 11:15 AM

Quote:

Originally Posted by JP-pornshooter

i love selling content in europe.. nice euros..

Exactly, with Euro You don't get less & less money each month.

Unluckily Slovakian Krone goes high so much so I'm losing both with Euro & Dollar.

Brad · 07-20-2007, 11:43 AM

It's not going to go up any time soon.

There is going to be a major housing surplus in the coming months. Banks are forecasting a 40% foreclosure rate for homes bought on in 2004-2006 starting at the end of this month. Your debt is going through the roof right now as well. People are also not as interested in buying US $$$ when the economy is sliding. The only hope for the US $ is that other countries devalue their $ so that imports and exports remain the same as they have in the past.

Barefootsies · 07-20-2007, 11:46 AM

Quote:

Originally Posted by gramog

I'm shooting in Hungary and am making 30% less profit, than when I started 4 years ago, because the US dollar is so low!

IllTestYourGirls · 07-20-2007, 11:47 AM

its not about oil, it is about wanting to create a North American Union. The leaders in the US want to have the dollar drop and become equal with the Canadian $.

who was president 12 years ago?

kektex · 07-20-2007, 12:21 PM

There are some people here in Venezuela making some serious bank with the currency exchange control. The official rate is Bs.2150 per dollar and the unofficial is around Bs.4000
So some guys figured that they would set up offshore merchant accounts and stuff and they are letting people exchange their annual $3000 allowance at the official rate via these points of sale.
They keep around 10% of the $3000. And they do this many,many times a day.
Anyone interested ?

Dirty Dane · 07-20-2007, 12:43 PM

It sucks. Time to buy some gold.

RuthB · 07-20-2007, 12:45 PM

yeah, Cdn dollar is practically equal to the US dollar now.. sucks

tg989 · 07-20-2007, 01:05 PM

i'm just wondering how long you americans will put up with this shit until you impeach your president.

ilbb · 07-20-2007, 01:11 PM

that sucks...it costs me too much

GreyWolf · 07-20-2007, 01:50 PM

Quote:

Originally Posted by Barefootsies

Dollar trades near record lows versus euro

That is also a 30+ year low against Sterling as well Barefootsies - the dollar is worth .48 cents against GBP.

The good news is anyone currently buying assets in Sterling are getting a good deal - a $300K home costs less than 150 UK Pounds. You could hardly buy a one bedroom apartment in the UK for that money *lol*

PS BTW - Nice currency article from the Khaleej Times - courtesy of Reuters

V_RocKs · 07-20-2007, 02:14 PM

I love it when economists say this just means we will be able to export easier into other countries...

Let me give you some info about that...

Our radios still cost twice as much as Japanese radios so we will NOT be selling any extras.... our dollar will just suck.

GreyWolf · 07-20-2007, 02:33 PM

Quote:

Originally Posted by V_RocKs

I love it when economists say this just means we will be able to export easier into other countries...

Let me give you some info about that...

Our radios still cost twice as much as Japanese radios so we will NOT be selling any extras.... our dollar will just suck.

100% correct! That is the core problem and at least a significant reason why the dollar is weak at the moment - there are far too few exports despite the dollar "should" be advantageous.

The last time there was a trading surplus was around 40 years ago - the problem may be with a lack of sufficient manufacturing capacity at a competitive price - tho almost all western "industrialized" countries have that same competitive problem.

The flipside is too much consumption of foreign product (and oil) - if more US manufactured product was consumed in the US (instead of Chinese imports) - that would help balance the books much better.

07-19-2007, 09:17 AM	#1
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	Dollar trades near record lows versus euro NEW YORK - The dollar traded near record lows versus the euro on Thursday over renewed concern about the health of the US housing market and as investors pondered the Federal Reserve?s next interest rate move. The dollar reached its lowest levels in years on Wednesday following a speech by Fed Chairman Ben Bernanke in which he cut growth forecasts for the US economy for this year and next and said the hard-hit housing market will remain sluggish. Bernanke is giving a second day?s testimony to Congress. Analysts expect his speech will reiterate Wednesday?s remarks on inflation. ?Less hawkish comments from (Ben) Bernanke yesterday are not helping the dollar,? said Steven Butler, director of foreign exchange trading at Scotia Capital in Toronto. ?He showed a little less concern about housing than he had let on before but it seems there is a lot of euro crosses dominating today and that?s keeping the euro well-supported.? In mid-morning trading in New York, the euro was up 0.1 percent on the day at $1.3819, having hit $1.3834 on Wednesday according to electronic trading system EBS, its strongest level since its launch in 1999. The dollar also touched a record low versus the euro on Wednesday on news two Bear Stearns hedge funds exposed to the risky subprime mortgage sector were now virtually worthless. Sterling was down 0.2 percent at $2.0472 after softer-than-expected UK retail sales data, coming further off a 26-year peak of $2.0548 hit on Wednesday. The dollar was up 0.2 percent at 122.09 yen but the dollar index, a measure of its value against a basket of six major currencies, was slightly down at 80.352. The index fell to a 12-year low of 80.227 on Wednesday. The Philadelphia Federal Reserve Bank will release its business activity index for July at 12 p.m. (1600 GMT) and the Fed publishes minutes from its June 27-28 policy meeting, where it kept key US interest rates unchanged at 5.25 percent. The market currently reckons US rates will have to stay on hold or be cut at some point but analysts expect the Bank of England and the European Central Bank to raise rates in September, which is seen supporting the pound and the euro. ?The FX market has warmed to the idea that the Fed?s going to be on hold for the rest of the year so it will have to look elsewhere for direction, probably other asset classes. The dollar?s movements are very much dependent on how the US corporate bond market trades, at least for the time being,? said Paul Mackel, senior currency strategist at HSBC in London. Riskier asset classes like corporate bonds, equities and emerging markets were steady to firmer on Thursday, while government bonds were weaker. Currency markets showed little reaction to data from Beijing on Thursday that showed China?s economy in the second quarter grew at a sizzling 11.9 percent, the fastest pace of growth in 11 years. http://www.khaleejtimes.com/DisplayA...ction=business __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

07-19-2007, 10:05 AM	#3
tranza ICQ: 197-556-237 Join Date: Jun 2003 Location: BRASIL !!! Posts: 57,559	I couldn't be more sad. __________________ I'm just a newbie.

07-19-2007, 12:22 PM	#8
MaDalton I am Amazing Content! Industry Role: Join Date: Feb 2004 Posts: 39,829	i want to throw up every day :-/ __________________ AmazingContent.com - providing only the best content and service since 2003 Monetize your content on Veegaz.com - one of Germanies largest VOD sites Got German traffic? We convert it into money for you! Skype: madalton02826 - Email: oltecconsult [at] gmail [dot] com

07-19-2007, 01:58 PM	#9
yumma Confirmed User Join Date: Jul 2007 Posts: 579	it's all about oil shit __________________ naked teens finger bang big ass babes ass fucking

07-19-2007, 02:27 PM	#11
Calico Jack Confirmed User Join Date: Jul 2004 Posts: 2,051	The Aussie dollar's been around 87-89 cents lately whenever I go to the bank. I almost cry for the day's when I used to double my money. There was little sweeter than rocking up with a handful of checks and walking out with twice the amount. I doubt we'll see those days agin anytime soon. __________________ Got Foot Fetish Traffic? These sites will make you $$$... Footsie Babes - Hot Legs & Feet - Kink's Foot Worship - Black Meat White Feet NAKED HOSTING (Certified Hosting)...Adult Web Hosting at its FINEST! Signup Here!

07-19-2007, 09:55 AM	#2
hjnet Confirmed User Join Date: May 2002 Location: European Union Posts: 3,815	I hope it'll get better after the 2008 US elections

07-19-2007, 10:14 AM	#5
Dirty F Too lazy to set a custom title Industry Role: Join Date: Jul 2001 Posts: 59,204	Losing so much money :/

07-19-2007, 02:00 PM	#10
tg989 Registered User Join Date: Jun 2007 Posts: 89	maybe the canadian dollar will go over 1:1 with the us$ :D

07-19-2007, 02:28 PM	#12
Violetta Affiliate Join Date: Jul 2004 Posts: 28,735	The last payout was a SHAME. The Norwegian Krone is very strong, and the us dollar is very weak. The payout sucked! __________________ M&A Queen

07-19-2007, 02:39 PM	#13
_Richard_ Too lazy to set a custom title Industry Role: Join Date: Oct 2006 Location: Earth Posts: 30,989	yea, the canadian dollar has been doing fantastic as well

07-20-2007, 06:43 AM	#14
posh rat in hell Confirmed User Join Date: May 2002 Location: New York City Posts: 403	1 USD = 1 CAD just about now .... that's just damn scary

07-20-2007, 07:41 AM	#15
gramog Registered User Join Date: Jul 2005 Posts: 6	I'm shooting in Hungary and am making 30% less profit, than when I started 4 years ago, because the US dollar is so low!

07-20-2007, 09:49 AM	#17
JP-pornshooter Confirmed User Join Date: Sep 2006 Location: westcoast usa Posts: 4,007	i love selling content in europe.. nice euros..

07-20-2007, 11:43 AM	#19
Brad Confirmed User Industry Role: Join Date: Jan 2007 Location: Toronto Posts: 2,510	It's not going to go up any time soon. There is going to be a major housing surplus in the coming months. Banks are forecasting a 40% foreclosure rate for homes bought on in 2004-2006 starting at the end of this month. Your debt is going through the roof right now as well. People are also not as interested in buying US $$$ when the economy is sliding. The only hope for the US $ is that other countries devalue their $ so that imports and exports remain the same as they have in the past. __________________ Affiliate Manager/Media Buyer ICQ 376 978 529 Skype: bradleyjwscott [email protected]

07-20-2007, 11:47 AM	#21
IllTestYourGirls Ah My Balls Industry Role: Join Date: Feb 2007 Location: Under the gold leaf ICQ 388-454-421 Posts: 14,311	its not about oil, it is about wanting to create a North American Union. The leaders in the US want to have the dollar drop and become equal with the Canadian $. who was president 12 years ago? __________________

07-20-2007, 12:21 PM	#22
kektex Confirmed User Industry Role: Join Date: Mar 2005 Location: elkektex at gmail Posts: 1,813	There are some people here in Venezuela making some serious bank with the currency exchange control. The official rate is Bs.2150 per dollar and the unofficial is around Bs.4000 So some guys figured that they would set up offshore merchant accounts and stuff and they are letting people exchange their annual $3000 allowance at the official rate via these points of sale. They keep around 10% of the $3000. And they do this many,many times a day. Anyone interested ?

07-20-2007, 12:43 PM	#23
Dirty Dane Sick Fuck Industry Role: Join Date: Feb 2004 Location: www Posts: 9,491	It sucks. Time to buy some gold.

07-20-2007, 12:45 PM	#24
RuthB Let's Get Paxumized! Industry Role: Join Date: May 2005 Location: Vancouver, Canada Posts: 7,247	yeah, Cdn dollar is practically equal to the US dollar now.. sucks __________________ Send & Receive Mass Global Payments - Mass P2P/Wire/EFT/SEPA - Adult Industry Friendly - Award Winning Payment Service - Fast, Reliable & Secure! Paxum ...... Paxum Bank Email: [email protected] ~ Telegram: PaxumRuth

07-20-2007, 01:05 PM	#25
tg989 Registered User Join Date: Jun 2007 Posts: 89	i'm just wondering how long you americans will put up with this shit until you impeach your president.

07-20-2007, 01:11 PM	#26
ilbb Confirmed User Industry Role: Join Date: May 2005 Location: EU - Czech republic Posts: 3,025	that sucks...it costs me too much

07-20-2007, 02:14 PM	#28
V_RocKs Damn Right I Kiss Ass! Industry Role: Join Date: Dec 2003 Location: Cowtown, USA Posts: 32,409	I love it when economists say this just means we will be able to export easier into other countries... Let me give you some info about that... Our radios still cost twice as much as Japanese radios so we will NOT be selling any extras.... our dollar will just suck.