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Dollar Optimism at 18 Mth High
As at Wednesday March 10th 2010
Recent Commentaries >

Investors are the most bullish on the dollar since the collapse of Lehman Brothers on speculation the U.S. economy will expand at a faster pace than in Europe and Japan, a survey of Bloomberg users showed. Sentiment toward the dollar climbed to 66.39 this month from 55.72 in February, according to the survey. The measure is a diffusion index, meaning a reading above 50 indicates Bloomberg users expect the dollar to strengthen. The dollar strengthened this month the most since May against the euro on concern Greece’s struggles to close the biggest deficit in the European Union as a percentage of gross domestic product will weigh on the region. The Federal Reserve will raise interest rates before the European Central Bank and Bank of Japan, according to the median estimate of more than 30 economists.

Canada’s dollar traded near the strongest level in almost two months against its U.S. counterpart as crude oil, the nation’s largest export, approached $82 a barrel. The Canadian currency was little changed after rising for nine straight days, the longest streak since 2004. The currency strengthened as much as 0.1 percent to C$1.0251 against the U.S. dollar, from $1.0261 yesterday, when it touched C$1.0236, the strongest since Jan. 15.

Today's Opening Rates (Mid-Rate) (as at 08:53 E.D.T.)


  EUR/USD1.3615    USD/JPY90.40    GBP/USD1.4943    USD/CHF1.0740  
  USD/CAD1.0250    AUD/USD.9170    NZD/USD.7078    EUR/GBP.9111  
  USD/PLN2.8320    USD/MXN12.610    USD/DKK5.4640    USD/SEK7.1350  

Equity Indices (as at 08:53 E.D.T.)


  Dow Jones10,564    FTSE5,608    Nikkei10,563  
  ISEQ3,004    NASDAQ 2,340   

Indicative Opening Deposit Rates


Time Period $ Deposit Euro Deposit
1 Week 0.40 0.50
2 Week 0.45 0.56
3 Week 0.45 0.60
1 Month 0.45 0.65
2 Month 0.46 0.75
3 Month 0.47 0.92
4 Month 0.57 1.00
5 Month 0.65 1.10
6 Month 0.75 1.20
9 Month 0.96 1.30
12 Month 1.00 1.35


FOCUS

This week we will focus on

• Economic Indicators

• Euro land

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