SHANGHAI/ NEW YORK, Nov 30- When the International Monetary Fund agrees on Monday to add the Chinese yuan to its reserves basket in the biggest shake-up in more than three decades, the IMF can afford itself a congratulatory nod. By acknowledging the yuan as a major global currency alongside the dollar, euro, yen, and pound, as is widely expected, IMF members will...» Read More
The dollar's slide lower against the yen shows no sign of letting up and it could push toward 80 yen, which the pair would not have seen since 1995, Royce Tostrams, Technical Analyst at Tostrams Groep, told CNBC.
"The dollar over the next year or two will tend to see downward pressure because our recovery will be fragile and uneven," says one economist.
The American currency is under siege. It is trading near 14-month lows and there are questions about whether it deserves its status as a reserve currency.
If you really want to understand the implications of the falling U.S. dollar, make a run for the border—the U.S./Canadian border, where currency fluctuations are felt just about everywhere money changes hands.
The recent weakness in the dollar index is likely to continue and it could soon hit an all-time low of 70.65 points, Royce Tostrams, technical analyst from Tostrams Groep, told CNBC.
Jerry Castellini, president and CIO of CastleArk Management, Brian Dolan, chief currency strategist at Forex.com and Matt Zeman, trader at LaSalle Futures Group offered their views on where investors should put their money.
Talk of the perils of dollar weakness has been exaggerated for three decades—and in that way are somewhat comical--while predictions of its demise as the reserve currency is premature. The dollar saga is also the stuff of a short memory.
Oil prices are coming down from August highs, while the Standard & Poor's 500 index is approaching levels where it will find it hard to move higher, Chris Locke, managing director at Oystertrade.com Management, told CNBC Wednesday.
The falling US dollar is expected to get even weaker, moving to the center of a carry trade and encouraging global investors to borrow more dollars to fund higher-yielding currencies and assets. Is this necessarily a bad thing and does this mean the dollar will become the new yen? Peter Schiff, president of Euro Pacific Capital shared his thoughts.
The dollar is clearly stuck in a downward trend as it takes over from the yen as the carry-trade currency of choice, but if the trend continues it faces a “fully-fledged dollar crisis,” Robin Griffiths, technical strategist at Cazenove Capital, told CNBC.
The bulging US government debt can turn into an investment opportunity, legendary investor Jim Rogers, chairman of Rogers Holdings, told CNBC Monday.
The stock market rally we have experienced since hitting the lows in March is over and stocks could retest those lows in the future as further problems loom for the financial sector, Chris Locke, managing director at Oystertrade.com Management, said Wednesday.
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Global stocks began the day higher, with Asian markets jumping more than 2 percent, lifting world shares to a 10-month high. Oil prices also climbed towards a 10-month peak and copper futures rose on hopes the global economic recovery is picking up steam.
Global stocks rose Thursday, with China's benchmark market making its second biggest gain this year. Experts tell CNBC another leg down in the markets is unlikely.
Forex strategists Alan Ruskin of Royal Bank of Scotland and Mike Moran of Standard Chartered Bank discussed where the U.S. dollar is headed and where investors should be looking to maximize their profits.
Global stocks rose Tuesday, clawing their way back from the previous day's lows. Experts tell CNBC that although the market is due for a slight correction, there is still value in large-cap stocks and copper.
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.
Global stocks were lower Tuesday after reaching new year highs the previous day. But experts tell CNBC certain 'landmines' could cause markets to pull back in the second half of this year.