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U.S. Mortgage Rates Slip, Fed Course Affirmed?

July 02, 2009
Freddie Mac reports that mortgage rates fell in the U.S. in the past week. The average 30-year fixed rate mortgage fell 10 basis points to 5.32%. Fed officials may find some comfort in this development, but it is unlikely to silence its critics.
U.S. Mortgage Rates Slip, Fed Course Affirmed? U.S. Mortgage Rates Slip, Fed Course Affirmed? Reviewed by magonomics on July 02, 2009 Rating: 5
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End of Era Looms for Japanese FX Leverage?

July 02, 2009
Japan's Financial Service Agency will reportedly will limit the amount leveraging available to retail foreign exchange participants, who according to estimates account for around a quarter of the daily turnover in Tokyo, which according the the BIS survey averaged about $302 billion a day.
End of Era Looms for Japanese FX Leverage? End of Era Looms for Japanese FX Leverage? Reviewed by magonomics on July 02, 2009 Rating: 5
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China: More Talk

July 01, 2009
News wires report that China has announced it wants to talk about reform of the international monetary order at next week's G8 meeting in Italy. The dollar has been hit in a knee-jerk reaction to the news headlines, but we are skeptical of the merits.
China: More Talk China: More Talk Reviewed by magonomics on July 01, 2009 Rating: 5
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May Construction Spending Reverses April Gains

July 01, 2009
Construction spending fell 0.9% in May, completely offsetting the revised 0.6% gain in April (which was initially 0.8%). This is slightly weaker than the consensus forecasts. Overall, construction spending has fallen 11.6% from year ago levels. Residential construction was poor, off 3.5% after a flat reading in April. Yet we know that housing star…
May Construction Spending Reverses April Gains May Construction Spending Reverses April Gains Reviewed by magonomics on July 01, 2009 Rating: 5
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South African Rand Stalls

July 01, 2009
The South African rand has been the strongest currency this year, appreciating 23% against the dollar in H1. Since putting its recent low (with the dollar at ZAR8.28) on June 23, the rand has appreciated every day, for a cumulative gain of 6.2%, until today. The rand is off by a little more than 0.5%. The ostensible cause of the modest profit taki…
South African Rand Stalls South African Rand Stalls Reviewed by magonomics on July 01, 2009 Rating: 5
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