Tags: shilling | dollar | euro | stocks

Shilling: Dollar Will Rise to Match Euro

Thursday, 18 Feb 2010 02:25 PM

The dollar could be worth as much as the euro soon, says Gary Shilling of A. Gary Shilling & Co.

The recent rally of the dollar is proof that the greenback is heading upwards, Shilling told Yahoo! Tech Ticker.

Greece’s debt situation has triggered problems for the euro and that in turn has boosted the dollar recently.

Shilling advises investors to stick with the dollar since it is "the best of a bad lot,” instead of buying the euro.

The stock market also has a 40 percent to 50 percent chance of tanking as consumers pull back on spending, Shilling said.

Treasury bonds are a good investment, he said.

Shilling said commodities are not a good bet and should be sold since demand worldwide is declining.

Investors are optimistic about a recovery, Bloomberg reports.

“Gold is moving along with all of the commodities. There’s some economic optimism that’s bringing in buying. People want to embrace gold with the overall risk tolerance that is coming back into the market today,” said Adam Klopfenstein, a senior market strategist at Lind-Waldock.

News that Greece could receive aid from Europe has provided some stability.

“The recent news on Greece has been very encouraging,” said Peter Jankovskis, who helps manage about $1.7 billion as co-chief investment officer at Oakbrook Investments in Lisle, Ill.

“Investors are growing more optimistic on their accord and more confident that the situation won’t have spillover effects to the United States.”

Despite the strengthening of the dollar, BNP Paribas stated in a report that the currency’s rise could soon end and recommended that investors should start selling it.

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The dollar could be worth as much as the euro soon, says Gary Shilling of A. Gary Shilling Co. The recent rally of the dollar is proof that the greenback is heading upwards, Shilling told Yahoo! Tech Ticker. Greece s debt situation has triggered problems for the euro...
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2010-25-18
Thursday, 18 Feb 2010 02:25 PM
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