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Saturday, May 03, 2008

Futures Traders Bet on Dollar Gain For First Time Since 2005

By robert108 on May 3, 2008 at 05:38 am
4 Comments
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By Bo Nielsen and Ye Xie

May 2 (Bloomberg)—Futures traders are betting for the first time since December 2005 that the dollar will gain against the euro.

The difference in the number of wagers by hedge funds and other large speculators on a decline in the euro compared with those on a gain, known as net shorts, was 21,315 on April 29, compared with net longs of 18,907 a week earlier, figures from the Washington-based Commodity Futures Trading Commission show.

``The dollar has already turned against the euro,’’ said Benedikt Germanier, a currency strategist at UBS AG in Stamford, Connecticut. ``The dollar will go to $1.52 in a straight line.’’

The dollar increased 0.3 percent to $1.5424 per euro at 5 p.m. in New York, from $1.5474 yesterday. It touched $1.5361, the highest level since March 24.

The dollar rose 1.3 percent against the euro this week, its biggest rally since March, and has appreciated 3.6 percent from a record low of $1.6019 reached on April 22. It’s the first time the dollar has posted two weeks of gains since December.

[...]

More good economic news, despite all the doom and gloom propaganda from the lefties.

Comments

pparets

r108:  Yeah, I saw that too.  The MSM hates good news about the conomy, don’t they?

"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on May 3, 2008 at 07:08 am
pparets

Economy smile

"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on May 3, 2008 at 07:08 am
Avatar for robert108

Next thing you know, they’ll be whining about how the strong dollar is hurting our exports.

John McCain is bad for America.

robert108 on May 3, 2008 at 07:35 am
Bat One

Next thing you know, they’ll be whining about how the strong dollar is hurting our exports.

Of Course!  They’re liberals.  They had no idea what they were talking about when they were wailing about the “weak” dollar.  The idea of consequences, that there are two sides to each and every equation, is simply beyond the comprehension of a liberal.

“Poverty of goods is easily cured; poverty of the mind is irreparable.”

Bat One on May 3, 2008 at 08:07 am
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