EU Issues, Durable Goods, New Home Sales, Treasury Auction

by devteam March 24th, 2010 | Share

The US dollar is strengthening and equity futures are sharply lower this morning ahead of key housing and durable goods data. Yesterday the Dow strengthened for the 11th straight day, but this morning the focus is on continued financial troubles in Europe, causing risk aversion across the board and a flight to the greenback.

90 minutes before the bell, Dow futures are down 31 points to 10,797 and S&P 500 futures are off 4.20 points to 1,165. WTI crude oil is down $1.24 to $80.67 per barrel and Spot Gold is $9.00 lower to $1,096.15.

The dollar strengthened mainly due to a steep fall in the euro overnight, which sank to its lowest level since last May, according to BMO Capital Markets. They attribute the weakness to talk of Greece receiving help from the International Monetary Fund.

“Markets are concerned that IMF involvement could mean ever harsher austerity measures â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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