Jeff Ghi, you are in luck!!! - The Euro's falling
Posted: Fri May 06, 2011 1:16 pm
Jeff and I both depart for Portugal in the next 24 hours and this week we've seen a very significant drop in the Euro. Within the last month it was flirting with 1.50 vs. the USD, and earlier in the week was up around 1.485. At the moment it is at 1.435 and hopefully the fall will continue through next week. 
It is still rather high, but fortunately the dollar has been strengthening with great jobs improvement news today and of course, the assassination of OBL has caused the price of June's spot market for deliveries of oil to drop off nearly 10% and finally dip below $100/barrel. Talk is that it could start hitting the gas pumps by the middle of next week and maybe a $.50/gallon drop by mid-summer which would be nice for a change.
I truly hope some oil speculators and their "investors" took a bath this week, (like OBL... they never saw this coming) after their profiteering caused consumers to pay ridiculous prices at the pump as the pimped the pricing.
It is still rather high, but fortunately the dollar has been strengthening with great jobs improvement news today and of course, the assassination of OBL has caused the price of June's spot market for deliveries of oil to drop off nearly 10% and finally dip below $100/barrel. Talk is that it could start hitting the gas pumps by the middle of next week and maybe a $.50/gallon drop by mid-summer which would be nice for a change.
I truly hope some oil speculators and their "investors" took a bath this week, (like OBL... they never saw this coming) after their profiteering caused consumers to pay ridiculous prices at the pump as the pimped the pricing.