Chart of the day

The forex chart shows it. After a couple of days of losses, the dollar fought back on Thursday to regain some strenght after some initial losses. There are some good reasons for this. The US seems to be on the way out from the crisis. We are seeing declines in Jobless claims amongst other things. Timm Geithner, Treasury Secretary extraordinaire, has said that he sees no further need for more bailout funds. That’s a big one. It just means that things are not getting worse, if nothing else.

Chrysler going bankrupt is a relief, if you ask me. It had to stop somewhere. Chrysler car owners are protected, and the comany will come out stronger after this.

The Commodity companies…AUD, NZD and the Canadian Dollar…they all had a good day against the dollar. However, the dollar fought back in the end. There is still some strength left here. I wouldn’t bet against it just yet.

It’s the end of the week. There’s not much we can do, except some back next week and see what happens



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