Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Joan Osland Graffius who wrote (37751)	9/3/2003 9:09:51 AM
From: Haim R. Branisteanu	of 74559

Do not know how to read this and more so based on the various press releases during last weekend were they predicted an USD dollar index around 90. Further no one economic indicator came in as a surprise more so the employment component is weak and refinancing continues to drop, all spell for weakness in the US. I think that the US dollar has more to do with speculation than fundamentals - e.g. like last time we had a financial bubble the USD rose and I think the same today. Europe is improving at the same pace like the US with the same mild upward surprises. Today their service PMI came in at 52% v. 50.2% in July with a similar rise to the manufacturing PMI above 49%

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