Dollar Weakens Against Euro; Services Index (unexpected) Fall in September

[papau]

http://quote.bloomberg.com/apps/news?pid=10000087&sid=aZCG90ix5n5Y&refer=top_world_news

Dollar Weakens Against Euro; Services Index Falls in September
Oct. 5 (Bloomberg) -- The dollar fell from a one-week high against the euro after U.S. services businesses expanded at the slowest pace since May of 2003. The report added to concern the economy is struggling to gain momentum amid record oil prices.

Demand for the dollar waned after the Institute for Supply Management said its index of non-manufacturing companies dropped to 56.7 last month from 58.2 in August. The measure was expected to show an increase to 59, according to the median of 61 economists' forecasts in a Bloomberg survey.

``The ISM is definitely not helping the dollar,'' said Lara Rhame, a currency strategist in New York at Credit Suisse First Boston. To confirm the economic slowdown earlier this year is over, ``you'd be hoping to see these indicators turning up at this point, not easing lower.''

Against the euro, the dollar traded at $1.2301 at 11:18 a.m. in New York from $1.2288 late yesterday, according to EBS, an electronic currency-dealing system. The U.S. currency reached $1.2257 yesterday, its strongest since Sept. 27. The dollar was at 111.33 yen from 110.98. CSFB predicts the dollar will decline to $1.25 per euro in three months. <snip>

[TrueAmerican]

1. Poor Dubya can't catch a break.

Ain't it a shame.

[Nicholas D Wolfwood]

2. Oh he'll catch a break. From his job, that is.

And it's going to last from January through the remainder of his life. That's one hell of a coffee break.

[The_Casual_Observer]

3. We need another tax cut. That will fix this time I promise!

[BJ]

4. But, but...didn't econmist say that things were rosie just yesterday?

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x882823

[papau]

5. WSJ says they redid payroll survey and found 300000 additional employed!

looks good for the Sept Number !

You know you can trust Bush economic numbers 30 days before an election!

LOL

:-)