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Playing the I fund
- Thread starter clester
- Start date
Dollar Rises Against Major Currencies
The dollar rose against most major currencies Wednesday, ahead of a European Central Bank meeting that was expected to bring no change in interest rates. The 12-nation currency bought $1.2704 in afternoon European trading, down from $1.2795 in New York late Tuesday. The British pound fell to $1.8334 from $1.8456. The dollar also strengthened against the Japanese currency, buying 115.66 yen, up from 114.65 overnight, after North Korea carried out a series of missile tests. Trading had been thin on Tuesday, the Independence Day holiday in the United States. The euro dropped a day before the ECB's governing council meeting in Frankfurt. The bank was expected to keep interest rates unchanged at 2.75 percent. However, analysts will be listening for any comments from Bank President Jean-Claude Trichet that could signal an increase in August.
http://biz.yahoo.com/ap/060705/dollar.html?.v=3
The dollar rose against most major currencies Wednesday, ahead of a European Central Bank meeting that was expected to bring no change in interest rates. The 12-nation currency bought $1.2704 in afternoon European trading, down from $1.2795 in New York late Tuesday. The British pound fell to $1.8334 from $1.8456. The dollar also strengthened against the Japanese currency, buying 115.66 yen, up from 114.65 overnight, after North Korea carried out a series of missile tests. Trading had been thin on Tuesday, the Independence Day holiday in the United States. The euro dropped a day before the ECB's governing council meeting in Frankfurt. The bank was expected to keep interest rates unchanged at 2.75 percent. However, analysts will be listening for any comments from Bank President Jean-Claude Trichet that could signal an increase in August.
http://biz.yahoo.com/ap/060705/dollar.html?.v=3
fabijo
Well-known member
Wheels said:
Yup. I was thinking 19.21 meself. I'm still waiting for it to get back up fast, because I got full in just before the big sell-off. Why do things have to drop so much easier than rise? I feel kind of guilty that I am always wanting my own nation's currency to drop.
The Bank of England (BOE) and the European Central Bank (ECB) left rates unchanged. Does anybody know what will be the impact of these decisions? I do see in the currency area of the Bloomberg.com website a relative drop in the dollar after this information came in.
This should be (by all rights) a good indication of calmer waters in the I Fund. I think it's what American investors want to happen in our markets; a pause. The ECB must feel inflation (on their end) is contained. That's not to say some sorry *** mad bomber won't walk up and... enough said.
http://www.foxnews.com/story/0,2933,202343,00.html
http://www.foxnews.com/story/0,2933,202343,00.html
sponsor said:
May Hike Next Month
The ECB has been moving rates higher since December as the euro-zone economy begins to pick up. The euro-zone economy grew 0.6% in the first quarter, and surveys by the German Ifo Institute, the European Commission and NTC Research have pointed to improved sentiment by consumers and companies alike. Data released by NTC on Wednesday showed a combined measure of services and manufacturing sentiment at a six-year high. At the same time, inflation of 2.5% is above the ECB's goal of near 2%, and money supply is accelerating by 8.9%, well above the 4.5% the bank prefers. House-price growth in some countries, notably Ireland and Spain, has particularly been troubling for the central bank. "At the aggregated level of the euro area it is clear that we have dynamism in outstanding credit for housing, and dynamic price increases in various available real estate figures, which are a cause of tension and that we are monitoring carefully," ECB's president Jean-Claude Trichet told four newspapers in a joint interview recently.
http://foxnews.smartmoney.com/bn/ON/index.cfm?story=ON-20060706-000623-0920
The ECB has been moving rates higher since December as the euro-zone economy begins to pick up. The euro-zone economy grew 0.6% in the first quarter, and surveys by the German Ifo Institute, the European Commission and NTC Research have pointed to improved sentiment by consumers and companies alike. Data released by NTC on Wednesday showed a combined measure of services and manufacturing sentiment at a six-year high. At the same time, inflation of 2.5% is above the ECB's goal of near 2%, and money supply is accelerating by 8.9%, well above the 4.5% the bank prefers. House-price growth in some countries, notably Ireland and Spain, has particularly been troubling for the central bank. "At the aggregated level of the euro area it is clear that we have dynamism in outstanding credit for housing, and dynamic price increases in various available real estate figures, which are a cause of tension and that we are monitoring carefully," ECB's president Jean-Claude Trichet told four newspapers in a joint interview recently.
http://foxnews.smartmoney.com/bn/ON/index.cfm?story=ON-20060706-000623-0920
Fivetears said:
I agree with you fully. The economic numbers today have come in showing some support for a FED pause. What still concerns me, are the jobs numbers that will be coming out tomorrow. As I am sure that you are aware of, the private study done by ADP is "predicting" a very high number of new jobs. If the FED sees this as inflationary, then the FED pause could be put on hold ... I guess! (good for the economy, but negative for the stock market?) Also, the relative downside of the dollar today appears to be favoring the I-Fund.
I am taking a higher risk by keepibg a core percentage in the I-Fund, a small percentage in the S-Fund, and the rest in the G-Fund. Perhaps I should have IFT'ed to the G-Fund also. I am counting on the low cost basis at which I bought the I-Fund to help me out, but frankly, I should have exited the S-Fund today and I didn't do it. If tomorrow is an up day, I probably will transfer from the S-Fund to the G. Hope the favorable economic numbers bail me out tomorrow!
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