Euro exceeds launch value (BBC): “By 1200 GMT the European single currency was worth $1.1789, up more than a US cent against the dollar. That value was easily in excess of the $1.1747 rate at which the euro closed on its launch day four years ago. And it puts the currency within a whisker of its all-time high, achieved during that first day’s trading.”
Greenspan’s Brave Face (CNN): “Data on labor markets and production have been “disappointing.” To say the least (!): jobs lost in six of the past eight months, new and continuing claims for jobless benefits at painfully high levels, and industrial production down the past two months in a row.”
Dollar Dims, Gold’s Luster Grows (TheStreet.com): “Contrary to popular intuition, the relationship between the performance of gold and equities is tenuous, at best. So the fact gold has rallied 15% since April 7 amid the stock market’s robust rally isn’t so strange. Actually, it’s readily explainable given the very strong inverse relationship between gold prices and the dollar.”
