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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Archie Meeties who wrote (2520)	8/26/2000 2:27:51 PM
From: Hawkmoon	Read Replies (2) of 3536

Very well written Arch...and I agree that the ECB is facing some serious decisions with regard to rate hikes and supporting the Euro. However, with regard to settling oil purchases in Euros, who would provide the impetus for this? Certainly not the oil states, unless they see the US dollar weakening dramatically against the Euro, which is quite unlikely given the economic statistics coming from Germany. Certainly EEC nations can't dictate that they will only pay for oil in Euros. They clearly have to pay in dollars, which means more conversion of Euros into dollars so as to meet potentially higher oil prices. However, I'm not quite ready to agree with you about the Euro trending to zero. Remember that it's supposedly back by all of the European gold, right?.. :0) No, rather it will just force them to economic restructure and grow more productive. Either that or become export dependent nations to the point where the US responds with protectionist policies against their goods. Hopefully, they won't carry this devaluation in the Euro quite that far. Regards, Ron

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