US Dollar Strengthens and Euro Weakens – US Stocks Affected
The value gained on the United States stocks on Thursday has been lost at the end of the market on Friday and all the index of the country reduced by one percent less than previous values. The price of oil is at $44.45 per barrel, 3.5 percent less than previous value and still the US dollar forges ahead in its upward journey.
The Founder of Short Hills Capital Partners, Stephen Weiss said while on a show that all package managers are analysing to quantify the level of effect the strength of the United States dollar will have on the nation’s stocks.
In his statement, Stephen Weiss was still interested in the US stock market even though there was a controversy about the increase in interest rates by the Federal Reserve. Notwithstanding, he treads with caution concerning the issue of interest rate hike as there might be an impending economic withdrawal.
On Friday’s trade the Euro reduced one percent against the United States dollar, to trade for almost 12 years down following the not too good US economic data that reduced risk reservations and also being reminded of the persistent Greece reforms and bailout.
Against the US dollar, the Euro traded on Friday at 1.0517 going 1.10 percent down. The lowest value for the week was 1.0493 and highest value of 1.0717.
The United States Manufacturers prices reduced 0.5 percent down in the month of February, which is better than the 0.8 percent reduction in the month of January – this was more than the 0.3 percent than was expected.