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COFER --Q2 Reserves

September 30, 2009
The most authoritative source of reserve data, the IMF's COFER data was just released for the second quarter. Central banks are rebuilding their reserves. Reserves peaked in Q2 08 at about $6.96 trillion. In Q1 09 they had fallen to $6.49 trillion and in Q2 they rose to $6.80 trillion.
COFER --Q2 Reserves COFER --Q2 Reserves Reviewed by magonomics on September 30, 2009 Rating: 5
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China, Russia, Middle East and Treasuries

September 29, 2009
Perhaps one of the most noteworthy developments at the recent G20 meeting is what wasn't said. There was no major call for a new international monetary regime or a new international reserve asset, like the Chinese and others pushed for at the previous G20 meeting. Similarly there were no calls from US or European officials for a renewed yuan a…
China, Russia, Middle East and Treasuries China, Russia, Middle East and Treasuries Reviewed by magonomics on September 29, 2009 Rating: 5
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Irish Referendum Oct 2: Yes, This Time

September 29, 2009
Ireland goes back to the polls Friday to approve the Lisbon Treaty after rejecting it in June 2008. Irish voters have been subject to a full court press, with even the EU, under the guise of simply informing voters, has seen to be weighing in heavily. All the lobbying and reassurances appear to be yielding the desired outcome. Polls out in recent …
Irish Referendum Oct 2: Yes, This Time Irish Referendum Oct 2:  Yes, This Time Reviewed by magonomics on September 29, 2009 Rating: 5
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The United States and Norway

September 28, 2009
It is a study of contrasts. About midway through the 24-hour trading day on Wednesday, 23 September, the Norwegian central bank announced that although it had considered raising its key rates, it decided not to. A few hours later, the Federal Reserve announced that not only would rates be left on hold, it anticipates the economic conditions that w…
The United States and Norway The United States and Norway Reviewed by magonomics on September 28, 2009 Rating: 5
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Mundell: Fix Euro-Dollar Exchange Rate--Fat Chance

September 24, 2009
Nobel prize winning economist Robert Mundell has renewed his call for fixing the euro-dollar exchange rate. Although he has advocated this before, this time he has added it to the Chinese call to increase the role of the SDRs. He argues that by fixing the euro-dollar exchange rate, the new economic zone would represent 45%-48% of the world economy…
Mundell: Fix Euro-Dollar Exchange Rate--Fat Chance Mundell: Fix Euro-Dollar Exchange Rate--Fat Chance Reviewed by magonomics on September 24, 2009 Rating: 5
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Canadian Reserves Are Illustrative of a Number of Points

September 24, 2009
Canada reports its international reserves on a weekly basis. It just reported its reserves as of Sept 13. They stood at $57.9 bln, up about $635 mln in the past week, which appear largely to be a reflection of valuation. The swings in currency valuation often are overlooked when talking about changes in reserves. Another interesting point is that …
Canadian Reserves Are Illustrative of a Number of Points Canadian Reserves Are Illustrative of a Number of Points Reviewed by magonomics on September 24, 2009 Rating: 5
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Aussie Coming Under Pressure

September 24, 2009
The Australian dollar was faring better than most currencies against the US dollar today, but has come under some pressure after European markets closed. In addition to weaker commodity stories, one of the weights on the Australian dollar may be in a story in the Australian press suggesting that contrary to what Chinese officials have said, the bi…
Aussie Coming Under Pressure Aussie Coming Under Pressure Reviewed by magonomics on September 24, 2009 Rating: 5
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Fed As Expected--Dollar Falls as Event Risk Passes

September 23, 2009
The greenback was treading water today awaiting the FOMC statement. The FOMC statement did not contain any surprises and the dollar has sold off in its aftermath. If anything the FOMC statement was a somewhat more dovish than some might have seeming to be more concerned about deflation. It did upgrade its assessment to the economy, which is not…
Fed As Expected--Dollar Falls as Event Risk Passes Fed As Expected--Dollar Falls as Event Risk Passes Reviewed by magonomics on September 23, 2009 Rating: 5
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Foreign Policy Association: US and Global Economic Outlook Foreign Policy Association: US and Global Economic Outlook Reviewed by magonomics on September 23, 2009 Rating: 5
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