The last week of 2008 began in the green for commodities as oil and gold prices surged following a flare up in violence in the Middle East.
The dollar was broadly lower, especially against the Swiss franc, which rose on safe-haven buying amid the fighting in Gaza.
Experts tell CNBC that further falls in the greenback and employment can be expected.
Look Out for a Collapse in Employment
The next stage in this financial crisis would be the collapse in employment, says Roger Nightingale, strategist at Pointon York. In light of this, he offers advice on how to invest.
Dollar Seen Weakening in the Longer Term
David Forrester, associate director at Barclays Capital sees the dollar weakening in the longer term. He also gives his foreign exchnage direction for 2009.
Middle Eastern Stocks Look Attractive
People aren’t willing to be adventurous going into the end of the year, as most investors have already locked in their positions, Mohammed Yasin, CEO of Shuaa Securities said.
Yasin sees more Middle Eastern investment projects, especially in infrastructure, petrochemical and expansion plans for GCC oil companies, being delayed or “stretched out”.