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US Dollar Stays Steady Despite Bad News
The US Trade Deficit jumped almost 6% and Jobless claims were larger than expected, However the US Dollar stayed stable and gave up little ground. The Fed Funds Futures Rates are pointing to a possible interest rate cut which may cut the Dollars recent gains.
Oil Testing Support at $100
OPEC is threatening production cuts while Hurricane Ike is threatening the Gulf of Mexico’s Oil facilities and shoreline. One would expect the US Dollar to drop with such news - However, this is further proof that the correlation between the US Dollar and Oil is strong.
FX Market Update Video for September 11th 2008 with Fundamental and Technical Analysis
Too Big To Fall - Too Big To Fail?
This morning MSNBC re-broadcast the terror of September 11th as the world was changed by a small group of overgrown adolescents that were in desperate need of finding some virgins….. Meanwhile - CNBC barely mentioned the anniversary - but seems to be delighting in the destruction of other financial firms. Seems as if too big to fail needs to be matched with the Bigger they are the harder they fall.
CNBC Vultures Pick on Lehman Brothers while the world looks on…
The image of a “pitbull” seems to fit the media these days, as certain shows seem to latch onto a story and refuse to let go until the life of the story is completely extinguished. At CNBC - there seems to be a fixation with seeing Lehman Brothers extinguished - headed by Charlie Gasparino. But almost the entire staff seems to be feeding a frenzy of fear to anyone that happens to tune in for more than 5 minutes.
Jerry Furst is an active trader, educator, and Founder of Investors Education Network (IEN), He is a Mentor and Trading Coach to Select Clients Click Here for a Free Self Evaluation Survey.