Yesterday, Euro hit peak of 1.4966 dolars required to buy one but closed just below 1.49 on same day as oil hit 98.18 and closed just below $98/barrel. Which will CLOSE at psychological record first? And will it be a physicological event of economic significance (Defined as causing a drop of 3 or more in DOW index.)? If you think that the first to brake thru the psychoological barrier will not be the first to close trading above the barrier, note that in your post. As "close" may not be well defined for either as some trading is 24 hours around the world, but lets assume "close" is Close of NYC traifing or Chicago, (C. board of Trade) if they trade there only.)
I think it's neck and neck, but the Euro seems to have more momentum. Psychologically, it will force the markets lower and there will be a rush into commodities esp precious metals.
These types of things have happened hundreds, perhaps thousands, of times in the past ....to what effect? In the end, very little, ...and things just kept on going and going and going and........ just like the Energizer Bunny. Baron Max
