Tuesday, September 7, 2010
World stocks gain, dollar falls
This article was about how the world stock market rose, but the dollar feel on Monday. Though the dollar feel, there was a better than expected data for US jobs. The dollars dropped relatively to many of the bigger nations' national currency. Do you see this trend continuing on to further reduce the price of the dollar to other currencies? Do you believe this fall in the dollar relative to other currencies could have anything to do with the events happen in the gulf with the oil spills? If so, could fixing all the problems with the oil spills rise the value of the dollar in the world market any?
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Yes, the dollar did feel a change, however it did not feel on Monday. The article goes into details about the falling US dollar while other economies, such as the British pound experienced a rise in the exchange rate. Of course the fall in the dollar has been affected by the Gulf's oil spills. Today, oil is one of the most influential resources on the world market. Any country experiencing a change in their oil supply will have somewhat of a change in their economy. To fix the problems regarding the oil spills is not that simple. There is not just the situation of tainted water, there is also people along the coast and the businesses, most of which are touristic, which can not sustain themselves since this situation. No tourist would like to go to a beach where the wild life is coated with black-oil-muck. The business lost here has damaged places where tourism is the only business in town. To fix the oil situation it will take much more than just going into the water, the country will have to take care of all the negative externalities which have come upon the society in the affected regions.
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