The riots in France will have impacted confidence over Europe and we're also seeing key technical levels being broken, pushing the euro lower.
More Quotes from Paul Mackel:
The trade release has reminded the market of the structural weakness of the dollar.Paul Mackel
The market expects the Fed to be hawkish towards inflation. If they highlight there is a greater inflation risk further out, then there is room for the dollar to push higher against the euro.
Paul Mackel
The U.S. consumer confidence data was very, very robust and the data from Germany was a factor in supporting the euro, but a lot of investors are not willing to run any risk at the moment.
Paul Mackel
A lot of people jumped the gun last week, and the comments and data we have had have led people to adjust positions ahead of the Fed meeting next week.
Paul Mackel
There's concern about this Tropical Storm Rita. People are watching that a little bit more closely, given Katrina and its impact on the market. There's some unwillingness right now to take aggressive positions,
Paul Mackel
Readers Who Like This Quotation Also Like:
There is no joy so great as that of reporting that a good play has come to town.Brooks Atkinson
It isn't a disgrace not to reach the stars, but it is a disgrace to have no stars to reach for.
Benjamin E. Mays
I was working straight for nine months and I'm exhausted. I'm ready to relax for a little while and read. I don't want to work for work sake; I have to be excited about it.
Sanaa Lathan