I have listened to a lot of news today and have been asked if I think the death of Bin Laden will effect oil prices. I can say that I did hear one expert suggest that nothing has really changed in the oil markets. However, that expert suggests that if the Libian leadership is outsted, oil prices could become more bearish, meaning prices will drop. In short, oil may drop some and might be enough to see some relief at the gas pumps, but I do not think a stronger dollar will result. Other countires that have already begun to tighten on monetary policy would have to stop tightening in order for the dollar to rally and that is probably a long shot.
There are too many other factors to consider, such as employment, manufacturing, housing, banking, etc. that need to improve before we can really see a stronger currency and a stronger economy. So, more of the same in the markets. Be prepared for the volatility and if you are getting close to retirement, protect your assets! Watch our Tuesday evening Online seminar about banking and lean more about how to protect your finances.
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