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GM & Chrysler Dealership Closings won’t bode well for the Dollar!
By Sean Hyman | May 15, 2009
Even though these companies may go into and back out of bankruptcy…GM and Chrysler and the Detroit auto industry in general, just “does not get it”. As Detroit fumbles the ball and gives up even more market share to Japan (Toyota, Honda, Mazda, etc.), it won’t bode well for the U.S. dollar. It’s simply a negative sentiment issue when you see icons of American ingenuity go up in smoke. It’s things like this that will only accelarate the fresh “dollar downtrend” that we’ve just entered.Who could benefit the most? the Anti-dollar (as it’s nicknamed)…which is the euro.
Tags: bank, currency, dollar, dow, downtrend, EUR, Euro, forex, fxedu, Japan, market, mywealth, rate, Sean Hyman, sentiment, time, U.S.
Topics: What To Look At In The Market |
May 16th, 2009 at 6:13 am
I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.
Nicole
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May 20th, 2009 at 7:19 pm
[…] According to Sean Hyman at forextradingblog.com, two major car dealership closings are not going to help the dollar. Read how the euro benefits in Sean’s article GM & Chrysler Dealership Closings won’t bode well for the Dollar! […]