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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (61801)	5/4/2002 8:34:49 PM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 99280

More interesting is the fact that during the summer of last year the EUR was at the same levels that it is today at a time AG was talking about a softening US economy, and Europe was supposed to go ahead unscathed, just before 9/11 after realizing that EZone is slowing down the USD raced back up. The swing in the EUR was from 0.96 to 0.83 back to 0.91/2 and then back down to 0.89. By end of September the EUR was 0.93 but as the Afghanistan campaign started to gain momentum and at the time a concessus government was established in Afghanistan the EUR was back to 0.86. The EZ economy is lagging behind the US most indicators are around 50% or below and unemployment is over 9% more so Germany is close to a deficit of 3% of GDP. As such there was no economic inpetus for the sudden rise of the EUR from around 0.88 to 0.9175 were it is today. The 0.88 level was just before the Saudi Clan landed in Texas since it is almost in a straight line up