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Monetary Policy in Focus, but Fiscal Policy may Prove More Formidable

magonomics October 30, 2009

The Federal Reserve Open Market Committee meets on November 4th for the second to last meeting of the year. With the central banks of Australia, UK and the euro zone also convening in the coming days, the focus is squarely on the trajectory of monetary policy.

Monetary Policy in Focus, but Fiscal Policy may Prove More Formidable

Reviewed by magonomics on October 30, 2009 Rating: 5

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USD Stabilizing Against the Mexican Peso

magonomics October 30, 2009

Earlier this week the US dollar rallied strongly against the Mexican peso, nearing MXN13.37 and was even near MXN13.36 yesterday before staging an outside down day (traded on both sides on Wed range and then the dollar finished below the Wed low). However, the pressure on the greenback appears to be abating just below the MXN13.00 level. That said…

USD Stabilizing Against the Mexican Peso

Reviewed by magonomics on October 30, 2009 Rating: 5

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Canada August GDP Disappoints

magonomics October 30, 2009

Canada reported that August GDP contracted by 0.1%, whereas the consensus expected a 0.1% increase. Small change for sure, but the sign is wrong. And it likely prevents the Canadian dollar from recovering from the recent slide that has brought it to a 4 week low against the otherwise sagging US dollar. Although the US reported a 3.5% expansion in …

Canada August GDP Disappoints

Reviewed by magonomics on October 30, 2009 Rating: 5

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Fox News: Will Dollar Remain World's Reserve Currency

magonomics October 29, 2009

Fox News: Will Dollar Remain World's Reserve Currency

Reviewed by magonomics on October 29, 2009 Rating: 5

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More Thoughts on Brazil

magonomics October 29, 2009

Brazil's 2% IOF tax comes as a wave of profit-taking weighs emerging markets in general. The MSCI EM index is off nearly 8% since Oct 20, while the Brazilian Bovespa entered "correction" territory yesterday with a cumulative decline of a little more than 11% in the same period. In the last 5 days, net-net the Brazil real has slipped …

More Thoughts on Brazil

Reviewed by magonomics on October 29, 2009 Rating: 5

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IMF Regional Report

magonomics October 29, 2009

The IMF's regional report noted that the recoveries in India, China and Australia are proceeding at such a pace that the output gaps are beginning to close. As we have often highlighted, central and Eastern Europe are significant laggards. This is underscored today by Russia's central bank 50 bp cut in its key refi rate to 9.5%. It is the …

IMF Regional Report

Reviewed by magonomics on October 29, 2009 Rating: 5

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New Fed Paper on Crisis and the Dollar--Interesting

magonomics October 28, 2009

The October issue of the NY Fed's monthly Current Issue was just released. There is an article that may prove interesting to further understand how the crisis impacted the dollar. It can be found here.

New Fed Paper on Crisis and the Dollar--Interesting

Reviewed by magonomics on October 28, 2009 Rating: 5