Forecasts on the direction of the Dollar is in disarray. One strategist says even the best paid professionals out there don't know what is going on.is it the death of the dollar as a reserve currency ...time will tell...
Monday, June 22, 2009
Shanghai corporate meeting by Bob Chapman
Bob Chapman on the Power Hour 22 June 2009
topics are : treasury bonds gold banks the fed the Shanghai corporate meeting, unemployment Obama plan , monetary fluidityTags : Rothschild NWO EU Russia Global Strike Economy Ice Warming Bombs Bilderberg Iraq Girls Rockefeller 9/11 NAU Gold Silver Alex Jones Politics Bob Chapman
Sunday, June 21, 2009
Crude Oil Falls, Following Stocks Lower, as Dollar Strengthens
Crude oil fell for a second day, following global equities lower, as a stronger dollar reduced the appeal of commodities as an alternative investment.
Prices declined after stocks dropped and the U.S. currency gained against the euro. The stronger currency undermines demand for dollar-priced assets such as oil and gold. Oil futures touched a seven-month high of $70.32 on June 5 after a Labor Department report showed the fewest job losses in eight months.
The fundamentals don’t support these prices, said Michael Fitzpatrick, a vice president for energy at MF Global Ltd. in New York. A stronger dollar takes away one of the supporting factors behind the r
ecent rally.
Crude oil for July delivery fell 35 cents, or 0.5 percent, to settle at $68.09 a barrel at 3:04 p.m. on the New York Mercantile Exchange. Futures are up 53 percent this year.
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Prices declined after stocks dropped and the U.S. currency gained against the euro. The stronger currency undermines demand for dollar-priced assets such as oil and gold. Oil futures touched a seven-month high of $70.32 on June 5 after a Labor Department report showed the fewest job losses in eight months.
The fundamentals don’t support these prices, said Michael Fitzpatrick, a vice president for energy at MF Global Ltd. in New York. A stronger dollar takes away one of the supporting factors behind the r
ecent rally.Crude oil for July delivery fell 35 cents, or 0.5 percent, to settle at $68.09 a barrel at 3:04 p.m. on the New York Mercantile Exchange. Futures are up 53 percent this year.
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