How will the euro go?

The trade deficit is still high and
not affected the current dollar/euro
rate, in fact the dollar rose today to 1.212.

Earl

****



Trade Deficit Shoots Up to $56.96B in April
Friday June 10, 9:22 am ET
By Martin Crutsinger

Trade Deficit Shoots Up by 12 Percent in April to $56.96B, Reflecting Surge
in Oil Imports

WASHINGTON (AP) -- The U.S. trade deficit shot up 12 percent in April to
$56.96 billion, reflecting a surge in oil imports to the second highest
level on record, the government reported Friday.

The Commerce Department said the new trade imbalance increased from a $53.56
billion deficit in March as imports rose 4.1 percent to a new record,
swamping a 3 percent increase in U.S. export sales, which also set a record.

So far this year, the trade deficit is running at an annual rate of $686
billion, 11 percent higher than the record $617.58 billion deficit set for
all of 2004.

Total imports rose to an all-time high of $163.38 billion in April, led by a
4.3 percent jump in petroleum imports to $19.4 billion, just below last
November's record. The average price for a barrel of crude oil imported
during April hit a record high of $44.76 as global prices surged during the
month.

Exports also rose to a record level of $106.42 billion in April, with sales
of commercial aircraft, computer chips and industrial engines all posting
big increases.

The soaring trade deficits have translated into a major political headache
for President Bush as critics contend his trade policies have failed to
protect American workers from unfair foreign competition, resulting in a
string of record deficits and the loss of more than 3 million manufacturing
jobs since mid-2000.

To counter these attacks, the administration has recently toughened its
stance with China, where America has the biggest trade deficit, arguing that
Beijing needs to scrap its fixed-rate currency system and crack down on the
rampant piracy of American movies, music and computer programs.

The administration has also re-imposed quotas on various categories of
clothing and textiles imports from China to protect U.S. manufacturers.

The tougher trade stance comes as the administration tries to overcome stiff
opposition and win congressional approval of the Central American Free Trade
Agreement covering six Latin American nations.

For April, the deficit with China rose 14 percent to $14.7 billion. So far
this year, the deficit with China is running at an annual rate of $170
billion, surpassing last year's record deficit of $162 billion with China,
the highest ever recorded with any country.

This year's increase with China has been propelled by a 51.7 percent rise in
imports of textiles and clothing over the past four months, compared to the
same period a year ago. This sharp increase has occurred with the lifting of
a three-decade system of global quotas on Jan. 1.

American manufactuers have succeeded in getting the administration to
re-impose quotas in several categories of clothing even though retailers
contend this will drive up the price for American consumers.

The trade deficit with Canada rose to $5.4 billion in April, up 8 percent
from the March, while the deficit with Mexico rose a smaller 3.3 percent to
$4.4 billion.

The deficit with the 25-nation European Union edged down a slight 0.5
percent to $9.26 billion in April.

Hatunen wrote:

On Fri, 10 Jun 2005 17:27:17 +0200, Earl Evleth
wrote:


The trade deficit is still high and
not affected the current dollar/euro
rate, in fact the dollar rose today to 1.212.


Rose fromn what? On 9 June it was 1.223.


************* DAVE HATUNEN ) *************
* Tucson Arizona, out where the cacti grow *
* My typos & mispellings are intentional copyright traps *

It rose from (1/1.223) to (1/1.212) euros that is.

Hatunen wrote:

On Fri, 10 Jun 2005 17:27:17 +0200, Earl Evleth
wrote:


The trade deficit is still high and
not affected the current dollar/euro
rate, in fact the dollar rose today to 1.212.


Rose fromn what? On 9 June it was 1.223.

Oh my gosh, Hatunen. What this means is that it only costs $1.212 to buy
a euro today when it cost $1.223 yesterday, assuming that you and Earl
have the numbers right. This is a sharp decline for 24 hours as far as
exchange rates go. It was about $1.36 back in December.

John Bermont
--
------------------------------------------------------
* * * Mastering Independent Budget Travel * * *
http://www.enjoy-europe.com/
------------------------------------------------------

On Fri, 10 Jun 2005 17:27:17 +0200, Earl Evleth
wrote:

The trade deficit is still high and
not affected the current dollar/euro
rate, in fact the dollar rose today to 1.212.

Rose fromn what? On 9 June it was 1.223.


************* DAVE HATUNEN ) *************
* Tucson Arizona, out where the cacti grow *
* My typos & mispellings are intentional copyright traps *

On Fri, 10 Jun 2005 22:18:27 GMT, "Frank F. Matthews"
wrote:



Hatunen wrote:

On Fri, 10 Jun 2005 17:27:17 +0200, Earl Evleth
wrote:


The trade deficit is still high and
not affected the current dollar/euro
rate, in fact the dollar rose today to 1.212.


Rose fromn what? On 9 June it was 1.223.

It rose from (1/1.223) to (1/1.212) euros that is.

Stupid me. You did say the DOLLAR rose, didn't you.

************* DAVE HATUNEN ) *************
* Tucson Arizona, out where the cacti grow *
* My typos & mispellings are intentional copyright traps *

Hatunen wrote:
On Fri, 10 Jun 2005 22:18:27 GMT, "Frank F. Matthews"
wrote:



Hatunen wrote:


On Fri, 10 Jun 2005 17:27:17 +0200, Earl Evleth
wrote:



The trade deficit is still high and
not affected the current dollar/euro
rate, in fact the dollar rose today to 1.212.


Rose fromn what? On 9 June it was 1.223.


It rose from (1/1.223) to (1/1.212) euros that is.


Stupid me. You did say the DOLLAR rose, didn't you.

************* DAVE HATUNEN ) *************
* Tucson Arizona, out where the cacti grow *
* My typos & mispellings are intentional copyright traps *

That's right. The number of euros that you get for a dollar rose from
(1/1.223) or 0.81766 to 1/1.212 or 0.82508 thus the value of a US dollar
rose by slightly under 3/4 of a euro cent.

"Earl Evleth" wrote in message
...
The trade deficit is still high and
not affected the current dollar/euro
rate, in fact the dollar rose today to 1.212.

Earl

****

Living in Australia I don't really follow the Euro - Dollar rate. I am more
interested in the Euro - Australian Dollar, and I am glad to report that
thoings are getting slightly better for us. Last year when we were in Europe
for four months I could on;ly get about 58 Euro cent for one AUD, now that
has risen to about 62 Euro cent.
May it continue to rise and we may be able to afford another trip next year.

Gerrit - Oz

In article , nitram
wrote:

On Fri, 10 Jun 2005 15:24:42 -0700, Hatunen wrote:

On Fri, 10 Jun 2005 17:27:17 +0200, Earl Evleth
wrote:

The trade deficit is still high and
not affected the current dollar/euro
rate, in fact the dollar rose today to 1.212.

Rose fromn what? On 9 June it was 1.223.

ECB rate today is 1.2229

With the EU Counsel meeting this week about issues that are at the root
of the relationship... short term strength in the Euro is put into
further question.

jay
Sat Jun 11, 2005

Martin wrote:

On Sat, 11 Jun 2005 01:58:38 GMT, "Frank F. Matthews"
wrote:



Hatunen wrote:

On Fri, 10 Jun 2005 22:18:27 GMT, "Frank F. Matthews"
wrote:



Hatunen wrote:



On Fri, 10 Jun 2005 17:27:17 +0200, Earl Evleth
wrote:




The trade deficit is still high and
not affected the current dollar/euro
rate, in fact the dollar rose today to 1.212.


Rose fromn what? On 9 June it was 1.223.


It rose from (1/1.223) to (1/1.212) euros that is.


Stupid me. You did say the DOLLAR rose, didn't you.

************* DAVE HATUNEN ) *************
* Tucson Arizona, out where the cacti grow *
* My typos & mispellings are intentional copyright traps *

That's right. The number of euros that you get for a dollar rose from
(1/1.223) or 0.81766 to 1/1.212 or 0.82508 thus the value of a US dollar
rose by slightly under 3/4 of a euro cent.


Fell! You get less Euros for your dollar now.




The euro fell the dollar rose as originally stated.

In article , Martin
wrote:

On Sat, 11 Jun 2005 17:31:44 GMT, "Frank F. Matthews"
wrote:



Martin wrote:

On Sat, 11 Jun 2005 01:58:38 GMT, "Frank F. Matthews"
wrote:



Hatunen wrote:

On Fri, 10 Jun 2005 22:18:27 GMT, "Frank F. Matthews"
wrote:



Hatunen wrote:



On Fri, 10 Jun 2005 17:27:17 +0200, Earl Evleth
wrote:




The trade deficit is still high and
not affected the current dollar/euro
rate, in fact the dollar rose today to 1.212.


Rose fromn what? On 9 June it was 1.223.


It rose from (1/1.223) to (1/1.212) euros that is.


Stupid me. You did say the DOLLAR rose, didn't you.

That's right. The number of euros that you get for a dollar rose from
(1/1.223) or 0.81766 to 1/1.212 or 0.82508 thus the value of a US dollar
rose by slightly under 3/4 of a euro cent.


Fell! You get less Euros for your dollar now.




The euro fell the dollar rose as originally stated.

You can state it as often as you like the rest of us use what the ECB
says.

You exchange much money directly with the ECB ?

jay
Sat Jun 11, 2005





http://www.ecb.int/stats/exchange/eu.../index.en.html

Note the little red arrow pointing down against the USD.