Dollar is Rebound -ME & Gulf Economy Gets Pinch

Recenlt after 7 months the dollar rebounds and rises yesterday, will cut the oil price is expected to limit the spendings of surplus by the Gulf & AGCC countries. Oil that worked as the hedge against the decline in greenpack has turned around to gain momentum. The dollar was undervalued started to soar against all currencies. However, despite with the strong dollar & despite the fall in oil price the Gulf economies will remain strong.

Recession in Japan:
Japan economy shrinked in the second quarter at its sharpest rate in 7 years. That worried the world economists that Japan's economy is plunged into recession after the US. Consumers and companies started to cut the spending- not a good sign with the steep energey and raw material costs. Japan economy contracted 0.6 percent, stock markets dropped 2.1% leading exports shrinked, private consumptions declined at0.5 percent. Japan needs economy to be shot in the arm like USA by injecting money for general spending to cope with the rising grocery bills.