Ramsey
11-10-2002, Fri 11:54 AM
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FOREX: The euro withstood the pressure of an impressive rebound in U.S. equities by mostly holding its ground against the dollar.
Dollar sentiment got a slight boost from surprisingly strong U.S. labor market data.
Even though the data were likely influenced by seasonal factors, equity and currency markets viewed the report as an excuse to trend higher.
"For a market that's used to getting disappointing numbers, that was a nice figure," said Nick Bennenbroek, international economist at Brown Brothers Harriman in New York.
Meanwhile, U.S. Treasury Secretary Paul O'Neill said that the government cannot and should not try to lower the value of the dollar.
But the terror and Iraq issues loom over the dollar.
An explosion aboard a supertanker in a Yemeni port earlier this week appears to have been a terrorist attack, U.S. officials said, after investigators examining the ship found debris from a small boat that may have been carrying explosives.
New York's landmark buildings, bridges, financial centers and tourist attractions came under heavier guard Thursday after the release of taped al-Qaida threats against the U.S. and its economy.
The U.S. House of Representatives voted solidly Thursday to give President Bush the broad authority he sought to use U.S. military force to confront Iraqi leader Saddam Hussein, and the Senate opened the way for final passage of the measure.
على افتتاح اوروبا
FOREX: The euro withstood the pressure of an impressive rebound in U.S. equities by mostly holding its ground against the dollar.
Dollar sentiment got a slight boost from surprisingly strong U.S. labor market data.
Even though the data were likely influenced by seasonal factors, equity and currency markets viewed the report as an excuse to trend higher.
"For a market that's used to getting disappointing numbers, that was a nice figure," said Nick Bennenbroek, international economist at Brown Brothers Harriman in New York.
Meanwhile, U.S. Treasury Secretary Paul O'Neill said that the government cannot and should not try to lower the value of the dollar.
But the terror and Iraq issues loom over the dollar.
An explosion aboard a supertanker in a Yemeni port earlier this week appears to have been a terrorist attack, U.S. officials said, after investigators examining the ship found debris from a small boat that may have been carrying explosives.
New York's landmark buildings, bridges, financial centers and tourist attractions came under heavier guard Thursday after the release of taped al-Qaida threats against the U.S. and its economy.
The U.S. House of Representatives voted solidly Thursday to give President Bush the broad authority he sought to use U.S. military force to confront Iraqi leader Saddam Hussein, and the Senate opened the way for final passage of the measure.