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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (43018)7/15/2002 8:08:24 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
<"The dollar and Wall Street are locked in a sort of deadly embrace, where the dollar declines as investors retreat from the U.S. markets," said Neil McKinnon, chief economist at ECU Group, a London-based currency debt management group. >

The question is if investors are retreating from US markets why is FTSE or CAC down 5% just today, may be it is more of fear that is driving markets down and the present historical level of US $ with Euro is more in line with the reality, cheaper $ makes for better exports and better numbers for US firms selling in Europe and Japan, July earnings may show some part of those gains and tomorrow Intc earnings will depict if US $ weakness is helping the Balance sheets but fast backward to 1997 I would assume that weaker $ will only help US companies, I expect that 892 area is a 1997 level where economy was far smaller despite of tech spending recession the room on QQQ's look limited on the downside..If Wednesday opens on weaker note we shall see some more determined selling that may last few weeks..
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