First hit – a buy order for an overseas fund goes through

And this inhospitable situation of the dollar has been a courtesy of some dedicated mismanagement of the US economy. According to Naomi Fink, Currency strategist, BNP Paribas “Support for the dollar has fl own in the face of a continued deterioration of US fundamentals.” It’s not only about debilitating deficits today as growth woes are taking toll on the dollar. With housing continuing to lose steam, a screeching halt of the economy is getting more and more predictable. The NAHB/Wells Fargo Housing Market Index has fallen from 57 points in January 2006, to 33 in November. Moreover, the manufacturing sector is also showing signs of slowing down. The PMI index, which measures manufacturing activity in the economy, published by Institute of Supply Management fell below 50% to 49.5% for the first time since April 2003.

For complete IIPM article click here

Source:- IIPM Editorial

Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative