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Euro slides to 20-year low against the dollar as recession fears build
CNBC ^
| 05 July 2022
| Elliot Smith
Posted on 07/05/2022 7:21:13 AM PDT by zeestephen
The Euro fell to its lowest level in two decades on Tuesday as fears of a recession in the euro zone ramped up, with gas prices soaring and the Ukraine war showing no signs of abating...The Dollar's strength continues, meanwhile, as risk-averse investors seek a safe haven, and the U.S. Federal Reserve embarks upon what looks to be an aggressive rate hike regime.
(Excerpt) Read more at cnbc.com ...
TOPICS: News/Current Events
KEYWORDS: anwr; bidenflation; dollar; euro; keystonexl; opec
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To: zeestephen
Can anyone point out the rational basis for the strength of the dollar against anything?
What am I missing here? My household budget for what we used to consider essentials such as power, gas, and groceries has risen significantly in the last 18 months.
The cost of everything I purchase with a dollar has increased. Are the increases in Europe that much more severe? I would expect widespread riots if that were the case.
2
posted on
07/05/2022 7:30:38 AM PDT
by
volunbeer
(Find the truth and accept it - anything else is delusional)
To: zeestephen
3
posted on
07/05/2022 7:31:00 AM PDT
by
knarf
To: zeestephen
the dollar isn’t strong, it just sucks the least.
4
posted on
07/05/2022 7:38:23 AM PDT
by
wny
To: volunbeer
“Can anyone point out the rational basis for the strength of the dollar against anything?”
The Fed has V-16 triple turbo-charged printing presses.
To: volunbeer
“Can anyone point out the rational basis for the strength of the dollar against anything?”
I had the same question.
I believe it is because investors think the Feds will raise interest rate higher than the rates in the EU causing more dollar purchasing. People are investing in Money Markets tied to the US dollars and US interest rates.
I could be wrong, maybe someone can confirm or tell us why.
6
posted on
07/05/2022 7:41:45 AM PDT
by
DEPcom
(Make the enemy live up to its own book of rules)
To: volunbeer
Can anyone point out the rational basis for the strength of the dollar against anything? We're in bad shape.
Europe is in worse shape.
7
posted on
07/05/2022 7:43:11 AM PDT
by
PapaBear3625
(We live in a time where intelligent people are being silenced so stupid people won’t be offended)
To: PapaBear3625
Europe is in worse shape.
It's not just Europe, it is the whole world. China is 'literally' at the edge of a precipice on a host of issues, Russia hangs by the thread of oil prices, and the Arabs know their situation hangs on the same thread. Only America has an answer for all of these problems, and hopefully will begin to enact that answer in Nov 2022.
But yeah, everyone invest here because everywhere else is in worse shape.
8
posted on
07/05/2022 7:50:52 AM PDT
by
wbarmy
(Trying to do better.)
To: volunbeer
Can anyone point out the rational basis for the strength of the dollar against anything?
The Fed is raising interest rates earlier and faster than other central banks. Consequently money moves from other currencies to the US dollar to capture those higher interest rates.
To: volunbeer
Then the dollar isn’t strong. It’s only strong against other currencies.
10
posted on
07/05/2022 7:56:24 AM PDT
by
cuban leaf
(My prediction: Harris is Spiro Agnew. We'll soon see who becomes Gerald Ford, and our next prez.)
To: DEPcom
To: volunbeer
I would suggest that in time of economic disruption the world over, the US$ is the safest place to be.
There was a thread condemning Chinese purchase of land in Minnesota. That is as near to a safe investment as exists any where and indicates the wisdom of the investor
12
posted on
07/05/2022 8:02:25 AM PDT
by
bert
( (KWE. NP. N.C. +12) Promoting Afro-Heritage diversity will destroy the democrats)
To: volunbeer
“Can anyone point out the rational basis for the strength of the dollar against anything?”
As bad as things are here, most of the world is in worse shape, especially Europe.
Surprisingly, the best performing currency is the Russian ruble!
13
posted on
07/05/2022 8:07:08 AM PDT
by
aquila48
(Do not let them make you "care" ! Guilting you is how they control you. )
To: zeestephen
It’s a good time to travel to Europe, but it’s become a NATO s’hole
To: Chad_the_Impaler
US Fed 2022:
April: +0.25%
May: +0.50%
June: +0.75%
July: +0.75% (planned)
-----------
Total: +2.25%
ECB 2022:
April: 0%
May: 0%
June: 0%
July: +0.25% (planned)
-------------
Total: +0.25%
To: volunbeer
“The cost of everything I purchase with a dollar has increased.”
Not stocks and bonds and soon real estate. The dollar has appreciated tremendously against those asset classes.
Having lots of liquid dollars set aside and gradually dollar cost averaging into these assets may be the best investment you will ever make.
16
posted on
07/05/2022 8:14:41 AM PDT
by
aquila48
(Do not let them make you "care" ! Guilting you is how they control you. )
To: zeestephen
I haven't paid attention to the euro for a while. It is down to $1.02 per euro. The UK pound is down to $1.19. The Candian dollar is down to some pocket lint and a bent paper clip.
We are the stern on the Titanic as everyone in the bow fights for the chance to be the last one to go under.
17
posted on
07/05/2022 8:17:09 AM PDT
by
KarlInOhio
(If Hitler invaded Hell, I would make at least a favourable reference of the Devil...-Churchill)
To: volunbeer
—> What am I missing here?
Us Dollar = strongest sick horse in a worldwide stable of sick currency horses
To: wny
I agree that the US Dollar is the least rotten apple in a barrel of rotten apples.
Nonetheless, the USD is currently at 106.49 against a basket of foreign currencies - that is a 20 year high.
To: volunbeer
Can anyone point out the rational basis for the strength of the dollar against anything?
The EU, believe it or not, is in worse financial shape than the U.S. For example, the Fed has raised the prime rate by 1.5% (hardly anything) in the past two months. Comparatively, the ECB raised interest rates only by 0.25%, but got spooked, and reversed the rate hike a few days later.
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