The debt problems of Greece and Portugal are punishing the euro, The Wall Street Journal reports. That’s another way of saying that the U.S. dollar is rising sharply against the euro. “”Sovereign credit worries in Europe and Japan are leading to some general risk aversion,” Michael Malpede, a market analyst at Easy Forex in Chicago, tells Reuters.
Daily Archives: March 24, 2010
DURABLE GOODS ORDERS RISE FOR THIRD STRAIGHT MONTH
This morning’s update on new orders for durable goods reminds that the cyclical forces of recovery are bubbling. It’s still unclear how deeply and how soon the recovery will spill over into the labor market. As long as that uncertainty persists, there’s some doubt about strength of the economic rebound overall. Meantime, it’s clear for the moment that the trend in the manufacturing sector continues to claw its way back from the steep losses of 2008.