Is the US Dollar's Progress Dependent on Greece?

Discussion in 'Forex - Currencies Forums' started by Investor, Jun 29, 2015.

  1. Investor

    Investor Well-Known Member

    Joined:
    Sep 2014
    Posts:
    151
    Likes Received:
    1
    So, in the financial world, you should know by now that most--if not all--the world is watching Greece and whether they'll be able to "dig themselves out" of their latest conundrum, which is the "Zero Hour" that seems imminent this coming Tuesday.

    On that note, several financiers have been proffering that the US dollar will neither progress nor decline, until Greece makes a move.

    On the one hand, this seems like a good statement for the stability of the US dollar, in that it seems to have a "fixed position" on the financial market pending the Greek economy's movement, but there is also the obvious desire for it to trend upward rather than staying in one stagnant position.

    Also, is Greece the only factor that we have to look out for?

    I'm considering also the rapid and sudden decline of the Japanese Yen, as well as the ever competitive Australian dollar (though not as competitive as the US dollar, of course).

    What are your thoughts on this?

    [​IMG]
     
  2. Corzhens

    Corzhens Senior Investor

    Joined:
    May 2015
    Posts:
    933
    Likes Received:
    0
    I wonder why the stability of the US dollar would be dependent on the Greek economy? The Philippine peso has always been dependent on the dollar but in the opposite direction. When the dollar tumbles, the dollars coming from the so called Overseas Filipino Workers have lower peso exchange rate. And when the dollar appreciates then those families of overseas workers jubilate since the remitted dollars have more for them.
     
  3. Rainman

    Rainman Senior Investor

    Joined:
    Jun 2014
    Posts:
    1,587
    Likes Received:
    4
    I believe that the U.S dollar won't be affected by Greece's decision to either stay in or leave the euro. Should Greece vote "no" then the value of the dollar will surge.

    http://www.forbes.com/sites/deanpopplewell/2015/05/26/us-dollar-grexit-fears-rise-again/
    But we don't know how exactly what will follow the Greek's referendum.
     
  4. manoharb

    manoharb Senior Investor

    Joined:
    May 2015
    Posts:
    277
    Likes Received:
    2
    US dollor's progress not depend on Greece, Forex Reserves of US and European countries, If we check Gold. Gold holding above 64% in European countries and US's total Forex Reserves. If Gold Crashed 40%( just news came in market) . It can create huge downfall in USD, Euro and GBP. result, Inflation rates climb up and FED rate Hike will try to balance these currencies. best way to balance USD, GBP and Euro is, buying in emerging markets.
     
  5. ScooterBrandon

    ScooterBrandon Senior Investor

    Joined:
    Jun 2015
    Posts:
    595
    Likes Received:
    2
    Greece is a "Nothing Burger" on the world economic stage so I don't see it effecting the USD too much.
    What this really is about is the future of the Euro Zone.
     
  6. User911

    User911 Well-Known Member

    Joined:
    Feb 2015
    Posts:
    90
    Likes Received:
    1
    I'm of the mind to agree with this. I'm already mad to see how much Greece's situation is (hopefully temporarily) affecting stock prices in recent days. Since they are a very tiny ant in the anthill, I'm surprised they've made this much difference in stock prices as much as they have as far as the U.S. goes.
     
  7. pwarbi

    pwarbi Senior Investor

    Joined:
    May 2015
    Posts:
    1,028
    Likes Received:
    5
    I don't think what's happening in Greece will have a massive effect on the US dollar or the economy to be honest. While it might destabilise the global economy a little, I don't think it will have a great impact on individual countries, and especially not the US.
     
  8. AtlantaSports

    AtlantaSports Senior Investor

    Joined:
    Feb 2015
    Posts:
    641
    Likes Received:
    2
  9. AtlantaSports

    AtlantaSports Senior Investor

    Joined:
    Feb 2015
    Posts:
    641
    Likes Received:
    2
    This is true. Greece is virtually nonexistent among the rest of the world and its' economy.
     
  10. rightct

    rightct Well-Known Member

    Joined:
    Apr 2015
    Posts:
    130
    Likes Received:
    1
    No matter what happens with Greece, it's not like the US pertains to the Eurozone. Surely Greece contributes somehow to the Eurozone, but it roughly represents 2% of the whole economy, which is why I believe it will never affect us. But I'm not a savvy economist, I wouldn't know best. :)
     

Share This Page