Posted on 03/12/2015 7:53:08 PM PDT by Lorianne
As analysts were waiting to see how fast the euro reaches parity against the U.S. dollar, one foreign exchange pro told CNBC he saw the common currency dropping even further, with the dollar strengthening another 20 percent.
George Saravelos, global co-head of FX research at Deutsche Bank, said the euro could fall to 85 U.S. cents against the greenback.
(Excerpt) Read more at cnbc.com ...
“and have huge electrical problems these days.”
Always have. I remember my dad bought one in the mid-70s as a company car for long-haul travel . Absolute disaster from an electrical standpoint: the thing would just go completely dark and die on the highway over and over again no matter what the dealership did. He dumped it and went back to the tank-like Buicks and Oldsmobiles he favored then. So much for German “engineering”.
And a Stange of beer at Oktoberfest in Munich was 50 pfennig.
Back to where it was when they started using it.
“George Saravelos, global co-head of FX research at Deutsche Bank, said the euro could fall to 85 U.S. cents against the greenback.”
When the head of DB FX says this, I’m booking a nice trip this fall, and paying for it when it hits his target.
I have a volkswagen-based vehicle that I can get certain parts ONLY from Brazil.
Yeah.
Pelham is speaking of the old German Mark currency exchange rate, you, I assume, are talking of the Euro.
I was looking at a BMW 2002 in 1969 when the dollar dropped 10% against the Mark. No BMW for me!
No way man,
Just two years ago there was talk of the Euro burying the dollar and the U.S.
Guess that little ocean keeps us out of range of the mideast and russia and china
I know someone with a car so old that he can get parts only from Cuba! :)
Don’t believe this in real time for a minute. This is all based an a reference currency being propped up by $18T in debt. If the Germans went the way of drunken sailor spending like us, it very well may be reversed.
I'll give you 18,151,394,251,602 reasons you are wrong.
Oops....Make that 18,151,395,174,125. We just pissed away another million in the 30 seconds for me to finish this post.
No, the Deutche Mark.
OPEC Has Already Turned to the Euro
GoldMoney Alert
February 18, 2004
...The source for the euro exchange rate is the Federal Reserve, and I have calculated the euro's average exchange rate to the dollar for each year based on daily data.We can see from column (4) in the above table that in 2001, each barrel of imported crude oil cost $21.40 on average for that year. But by 2003 the average price of a barrel of crude oil had risen 26.0% to $26.97 per barrel. However, the important point is shown in column (6). Note that the price of crude oil in terms of euros is essentially unchanged throughout this 3-year period.
2001
As the dollar has fallen, the dollar price of crude oil has risen. But the euro price of crude oil remains essentially unchanged throughout this 3-year period. It does not seem logical that this result is pure coincidence. It is more likely the result of purposeful design, namely, that OPEC is mindful of the dollar's decline and increases the dollar price of its crude oil by an amount that offsets the loss in purchasing power OPEC's members would otherwise incur. In short, OPEC is protecting its purchasing power as the dollar declines.
You are more worried about the Krona rates then, no?
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