Wall Street sixth; USD stronger

Fri, Apr 17 2009, 22:21 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – Financial stocks lead the way to another rise in the U.S. stocks market. The Dow Jones ended at 8,131 (+0.07%), it highest close since February 9. The index has also completed it sixth straight week with gains. Friday leaves a stronger dollar and a general weakness in European currencies.

At the beginning of March stocks value where at the lower price in decades and the Dow Jones was below 7,000. In those days, the euro against the dollar was at 1,2500. Since then, stock has risen every week while the EUR/USD has fallen the last 3 of 4 weeks. The correlation once existed between the EUR/USD and the stock market appears to be over. Today close price for the pair was the lowest since March 18.

EUR/USD

© 2009 “FXstreet.com. The Forex Market” All Rights Reserved. Every effort is made to provide accurate and complete information. However, with the thousands of documents available, often uploaded within short deadlines, we cannot guarantee that there will be no errors. Any republication or redistribution of FXstreet.com content is expressly prohibited without the prior written consent of FXstreet.com.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.