Interest Rates and USD dropping

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Wall Street had a quiet start this morning as Obama gave a speech on healthcare reform. Interest rates were the only significant mover so far heading significantly lower. This is overall a positive move for the recovery and the stabilization of the housing market.

The dollar again opened with weakness but the momentum of the sell off is decreasing. There is less talks about dollar alternatives today as the reserve currency of the world. So maybe, just maybe, we will see a rebound in the dollar after bouncing back from the 70 resistance.

The US stock market has lagged far behind the rest of the worlds in terms of real recovery. This means that we have experienced a hidden correction as the dollar devaluation helped our stock market remain competitively priced against foreign markets.

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