US dollar — still the world’s safe haven

Market Pulse: May 14

Last week the U.S. Dollar Index June futures contract opened at 79.790 and closed at 80.404.

Helping the U.S. dollar last week was the anti-austerity election results in France and Greece, with Greece once again taking center stage. I had to laugh when I read the German finance minister dared Greece to leave the Euro. It wasn’t a double or triple dare, just a dare. Many analysts believe Greece can’t stay in the Euro. And there are questions about both Spain and Italy as well. Today we are reading German Chancellor Angela Merkel is not doing well in local elections.

And what about China? China’s hot growing economy has cooled down as 2012 growth could be the weakest in 13-years. China is now looking at stimulus of 400 billion yuan. 

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