U.S. corporations are beginning to complain about the damage that the strong dollar is having on corporate earnings. This morning, United Technologies announced plans to lay off 11,600 workers as a rising dollar and deteriorating economic conditions forces the company to reduce costs. Yesterday, McDonald’s warned that the strength of the dollar and [...]

Posted in dollar earnings, dollar rally, forex blog 5 Comments »

On Friday, in my Daily Currency focus for FX360.com, I talked about the 3 Big Threats to the US dollar this week. One of them was a bad bank plan. This morning, Dow futures and higher yielding currencies are up sharply on news that Obama’s Administration has prepared a plan to create a [...]

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The US dollar appears to be unfazed by this morning’s mixed economic data. An improvement in consumer confidence has failed to help the dollar while the weaker news has pretty much been baked into the markets.
Christmas and New Years week is a time when traders are more focused on seeing family than making [...]

Posted in Crude Oil Prices, Forex News, Oil, US Dollar, US Economy, consumer confidence, consumer spending, dollar earnings, dollar recession, forex blog, gas prices, oil dollar, weak dollar earnings 5 Comments »

Here is a video interview I conducted with Marketwatch talking about where the US dollar is headed in 2009:

Posted in Forex, Forex Podcast, Forex TV, dollar earnings 1 Comment »

US GDP growth has contracted but that has not stopped the equity and currency market from rallying. The GDP number was not as bad as the market had feared but what really drove the markets higher was the Federal Reserve’s new Term Asset-Backed Securities Loan Facility (TALF).
Both the outgoing and incoming Presidents are [...]

Posted in Bernanke, FOMC, Forex, Forex News, Forex Podcast, TARP plan dollar, US Dollar, US Economy, consumer spending, coordinated rate cuts, dollar earnings, eur/usd, euro, forex blog 1 Comment »