Biggest weekly loss of American Idol

Last week the dollar had demonstrated its biggest weekly loss against euro. The value of American Idol has dropped after the announcement of Federal Reserve Chairman Ben S. Bernanke regarding the forecasted continued decrease of  interest rates.  Within last week Dollar lost 1.2 % with $1.4686 per euro, comparing to $1.4504 one week earlier. Index of consumer sentiment dropped to 69.6 in February, the lowest since 1992, from January's 78.4.

It is expected that "there are more cuts down the road " as it was stated by  Diane Hirschberg, Vice- President of foreign exchange at Bank of Montreal, in New York. "It is a weaker dollar scenario." Analysts believe that decrease of the interest rates would considerably hurt the dollar, and, as the result, more and more investors would reject the idea to invest into the USA frustrated by all kinds of negative economic news.

No wonder why the largest giants of online market try to invest tremendous amounts  of money into the expansion of their influence onto the merging markets as Russia, China, India and etc. Some production companies with developped distribution net  even relocate their production facilities overseas that would bring the reduction of the jobs, bring up the inflation and again the further drop of American currency.

Natalia, reporter of Ecommerce Journal