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The Dollar strength is rising.

This was posted for all the morons of LL which there are many that always talk crap since their lives are crap. Here you are with the facts.


CEP News) - The U.S. dollar is making broad-based gains on Wednesday as it continues to recover on the back of commodity prices.

The U.S. dollar is up 1.20 to 109.53 against the yen and up 0.0033 to 1.0469 against the Canadian dollar.

"The recent break above the previous 2008 high [1.0376] is bullish, validating our A-B-C wave-count. We continue to look for higher levels [1.08-1.10] in coming weeks, but expect 1.0500 to offer solid initial resistance. A daily close below 1.0280 is needed to invalidate this bullish stance," wrote CIBC FX strategists on the USD/CAD.

The USD/CAD rose to a session high of 1.0466 as WTI fell to $117.13 session lows at 11:35 a.m. EDT. Crude oil fell $2.52 to its low on weekly Energy Information Administration inventory figures, which showed an increase of 1614k barrels in crude oil stockpiles in the week ending Aug. 1, despite forecasts for a 200k drop in supply. Generally speaking, commodities are down in price with the CRB commodity index down 0.55 points to 397.86.

Ahead of the European Central Bank and Bank of England decisions on Thursday morning, the euro is down 0.0037 to 1.5417 and the pound sterling is down 0.0056 to 1.9491, both against the U.S. dollar. The Australian dollar was down 0.0069 to 0.9093 against the greenback. The U.S. dollar index is up 0.316 points to 74.197.

USD/JPY up 1.20 to 109.53.
EUR/USD down 0.0037 to 1.5417.
GBP/USD down 0.0056 to 1.9491.
USD/CAD up 0.0033 to 1.0469.
AUD/USD down 0.0069 to 0.9093.

All data taken at 2:07 p.m. EDT.


Click to view image: '214534-106464.jpg'

Added: Aug-16-2008 
By: jtcruzzinsomemore
In:
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Tags: US, Dollar, oil, war, currency
Location: New York, New York, United States (load item map)
Views: 8059 | Comments: 15 | Votes: 3 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 1
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