Weaker Dollar

Tuesday May 6, 2008

Good Morning:

The dollar took a dive across the board as Fannie Mae reported a $2.19Bil loss for the 1^st Qtr.  The loss was larger than expected.  Fannie Mae is expected to cut its dividend and raise $6Bil of outside capital.

Stocks in Asia and Europe fell on poor results from UBS and Swiss Re.

US Futures are also lower this morning.

Oil: $ 119.64

Gold: $ 877.40

No Major Economic Data due today.

Thursday April 10, 2008

Good Morning:

The Euro traded over 1.59 versus the dollar overnight as traders await the interest rate decision by the ECB.  As expected, the ECB left interest rates unchanged at 4%.

The BOE cut interest rates by 25 bps to 5% amid signs of a weak economy.

European equity markets are lower as concerns that corporate profits will be worst than expected as borrowing costs continue to rise with the ever growing credit crisis.