TOKYO/ SYDNEY, July 28- The U.S. dollar hovered near six-month highs against a basket of major currencies on Monday, holding onto solid gains made last week as investors turned bearish on the euro.» Read More
The correlation between the dollar and the stock market is still there, Chris Zwermann from Zwermann Financial said Monday. He sees a weakening U.S. dollar-Japanese yen cross pulling stock markets lower, with the Dow falling below the 9,000 mark.
Global stocks were lower Monday, with Asian markets falling to their lowest in two weeks, as investors raked in profits amid gloomy U.S. consumer data and a growing belief that market valuations had overtaken economic fundamentals.
Prices in the 16 countries that use the euro fell on an annual basis for the second straight month in July and by more than previously anticipated, official figures showed Friday.
The dollar bulls may finally get the upper hand as it becomes clear to investors that the euro zone is behind the U.S. and the U.K. in its economic recovery prospects, Jane Foley, currencies analyst at Forex.com, told CNBC Tuesday.
"We think this is going to be a W-shaped recovery in terms of the equity markets and we are now in the top part of the middle part of the ‘W’,” Emily Saunders, CEO of Sanders Financial Management.
From a technical perspective, the dollar is likely to trade lower for some time, as the euro, along with stock markets, may have entered a bull market, Chris Zwermann, global strategist at Zwermann Financial said Thursday.
Crisis-stricken Ireland's debt rating has been downgraded by Moody's amid mounting worries about the country's public finances and the cost of the government's bailout of the banking system.
Global stocks rose on Friday as metal and oil prices gained. Experts tell CNBC the rally still has legs and it's time to buy, buy, buy.
Global stocks were mixed Thursday after the Federal Reserve cautioned that the U.S. economy would remain weak for a time, adding concerns about the sustainability of a recent recovery.
The recent rally in the euro is a positive sign for the S&P 500, because it shows appetite for risk is still strong and the S&P could hit 1,000 this summer, Kevin Cook, market analyst at PEAK6 Investments, told CNBC Wednesday.
Trade was choppy for global stocks Wednesday ahead of the Federal Reserve's decision and statement. Experts tell CNBC they are skeptical of a recovery in the housing market.
Philip Gotthelf, president and commodities analyst at Equidex and Nick Bennenbroek, head of currency strategy at Wells Fargo shared their best commodity and currency plays.
The S&P 500, yen and oil have higher to go, according to Chris Locke, MD of Oystertrade.com Management, said Wednesday.
The recent speculation that the Federal Reserve may be forced to raise rates sooner because of a faster-than-expected improvement in the economic outlook is baseless, and the dollar can only go down, Steven Nigg, CEO of SWISS E TRADE, told CNBC Wednesday.
The head of the European Central Bank refused to bullied into changing policy Thursday following comments by German Chancellor Angela Merkel regarding her concerns that the central bank's loose monetary policy could lead the global economy into another, bigger crisis over the next decade.
The recent rally in the Dow Jones Industrial Average is in its "final stages," Roelof van den Akker, technical analyst at ING Wholesale, said Tuesday.
The singe European currency may bring the end of the whole European Union, because its one-size-fits-all approach means countries on the "wrong" side of the economic cycle lose out, European MP Nigel Farage said.
Currencies make a lot of sense in a diversified portfolio and many investors are missing the boat when it comes to the currency market, said Bill Spiropoulos, CEO of CoreStates Capital Advisors.
U.S. stock index futures predicted the slightly higher open on Monday, but Manus Cranny from MF Global Spreads said that sustainability is now the critical question.
The bear-market rally that stocks have enjoyed for the last 10 weeks is over, Robin Griffiths, technical analyst at Cazenove Capital told CNBC Monday.