http://www.crikey.com.au/2009/10/30/us-rebound-overshadowed-by-costcos-food-stamps-move/ now with extra source Sun, 12 Feb 2012 09:16:19 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.crikey.com.au/2009/10/30/us-rebound-overshadowed-by-costcos-food-stamps-move/#comment-43541 Scott Fri, 30 Oct 2009 04:03:34 +0000 http://www.crikey.com.au/2009/10/30/us-rebound-overshadowed-by-costcos-food-stamps-move/#comment-43541 I would have thought the US dollar would have risen on the news that the economy was picking up (more demand for US currency as people would want to invest in the US again). Unless the dollar was overbought previously as some sort of currency hedge, artificially raising its price which is now returning to normal levels... Unemployment is a lagging indicator so there is no doubt there is still more pain on the horizon for the US worker, but positive GDP is better than negative GDP in a downturn. Consumer and business confidence will grow on that alone. I would have thought the US dollar would have risen on the news that the economy was picking up (more demand for US currency as people would want to invest in the US again). Unless the dollar was overbought previously as some sort of currency hedge, artificially raising its price which is now returning to normal levels…
Unemployment is a lagging indicator so there is no doubt there is still more pain on the horizon for the US worker, but positive GDP is better than negative GDP in a downturn. Consumer and business confidence will grow on that alone.

]]>