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Dollar Sidelined, Yen in focus

June 02, 2010
The US dollar is little changed against most of the European currencies and within the dollar-bloc as a consolidative phase is emerging. The yen is center stage today following the resignation of Japan’s prime minister. The political uncertainty and calmer capital markets have seen the greenback extended its recovery against the yen to about 3% of…
Dollar Sidelined, Yen in focus Dollar Sidelined, Yen in focus Reviewed by Marc Chandler on June 02, 2010 Rating: 5
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Hard Asset Investor: Bullish on the Dollar Hard Asset Investor: Bullish on the Dollar Reviewed by magonomics on June 01, 2010 Rating: 5
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CNBC: Currency Plays CNBC: Currency Plays Reviewed by magonomics on June 01, 2010 Rating: 5
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CNBC: Impact of Canada's Rate Hike CNBC: Impact of Canada's Rate Hike Reviewed by magonomics on June 01, 2010 Rating: 5
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RBA Sits Tight, Q1 GDP Up Next

June 01, 2010
The Reserve Bank of Australia met earlier today and as widely expected kept the official rate steady at 4.5%. The tone of the statement was fairly neutral, as one might expect after 6 rates hikes since last October and increased uncertainty about the economic outlook of Europe and China.
Australia reports Q1 GDP figures first thing in the Australi…
RBA Sits Tight, Q1 GDP Up Next RBA Sits Tight, Q1 GDP Up Next Reviewed by Marc Chandler on June 01, 2010 Rating: 5
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US Holding Up Better than Europe

June 01, 2010
The US manufacturing ISM held up better than expected and better than the euro zone. The US ISM slipped to 59.7 from 60.4. Orders were steady at the lofty 65.7 while production slipped slightly (66.6 from 66.9). Employment rose to 59.8 from 58.5 and this will likely encourage some economists to revise higher forecasts for the employment data due a…
US Holding Up Better than Europe US Holding Up Better than Europe Reviewed by Marc Chandler on June 01, 2010 Rating: 5
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Canada Hikes, No Promise for Next Month

June 01, 2010
The Bank of Canada hiked its overnight target 25 bp to 0.50%, as widely expected. A Reuters poll showed all primary dealers expected it and expect a hike at next month's meeting as well (July 20). However, the Bank of Canada's statement is somewhat more neutral, The BOC also took measures to restore the normal operating band to 50 bp.
The …
Canada Hikes, No Promise for Next Month Canada Hikes, No Promise for Next Month Reviewed by Marc Chandler on June 01, 2010 Rating: 5
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Two Things Ail the Euro: What We Know and What We Suspect

June 01, 2010
The euro is plagued by two things: what the market knows and what the market suspects.
What the market knows has increased today with the euro zone manufacturing PMI readings for May. While readings remain above the 50 boom/bust level, the pace of activity slowed. For the euro zone as a whole the headline pace slowed to 55.8 from 57.6 in April. Se…
Two Things Ail the Euro: What We Know and What We Suspect Two Things Ail the Euro: What We Know and What We Suspect Reviewed by Marc Chandler on June 01, 2010 Rating: 5
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New Month -- Same Weak Euro

June 01, 2010
The US dollar has begun the new month off on strong footing against both and emerging market currencies. The yen is the sole exception.
There are three drivers today. The first is economic data from China and Europe that play on fears that the financial turmoil is taking a toll on the real economies. The second is continued concerns about European…
New Month -- Same Weak Euro New Month -- Same Weak Euro Reviewed by Marc Chandler on June 01, 2010 Rating: 5
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