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Data and RBA Meeting--Not Much for Aussie Bulls

August 02, 2010
The Australian dollar has been on a tear. It was the strongest of the G10 currencies over the past month, appreciated 8.6% against the greenback, nearly a third more than the New Zealand dollar and more than twice the performance of the Canadian dollar.
A great deal of good news has been discounted. The non-commercials at the IMM have recognized t…
Data and RBA Meeting--Not Much for Aussie Bulls Data and RBA Meeting--Not Much for Aussie Bulls Reviewed by Marc Chandler on August 02, 2010 Rating: 5
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Bernanke Somber, but Seems Cautiously Optimistic

August 02, 2010
Fed chief Bernanke is speaking on the economy to a a gathering of southern state governments. Given Bullard's concerns about deflation expressed last week, Bernanke's comments were anxiously awaited. They do not seem as worrisome as many had expected. He does not address monetary policy per se, but does seem to hold out the possibility tha…
Bernanke Somber, but Seems Cautiously Optimistic Bernanke Somber, but Seems Cautiously Optimistic Reviewed by Marc Chandler on August 02, 2010 Rating: 5
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More Tightening To Underpin Rupee

August 02, 2010
The central bank of India tightened policy last week by raising the reverse repo rate 25 bp to 5.75%. It is the fourth tightening move in five months and more tightening is likely in the coming period.
The central bank raised its 2010 GDP forecast to 8.5% from 8% last weekand lilfted its inflation forecast to 6% from 5.5%. The strength of the econ…
More Tightening To Underpin Rupee More Tightening To Underpin Rupee Reviewed by Marc Chandler on August 02, 2010 Rating: 5
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Capital Market Developments on Monday

August 02, 2010
One of the key fundamental developments that have helped spur the downside correction in the US dollar in recent weeks has been the divergence of economic data between the US and Europe. This trend is continuing and the contrast is clear with today’s purchasing managers’ surveys.
The euro zone reading of 56.7 was a little above the flash reading o…
Capital Market Developments on Monday Capital Market Developments on Monday Reviewed by Marc Chandler on August 02, 2010 Rating: 5
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New Month Same Forces

August 02, 2010
The US dollar is broadly mixed. Poor sentiment toward the greenback, following last week’s soft Beige Book, talk of the potential need for quantitative ease by a Fed official often seen as a hawk, soft Q2 GDP figures, coupled today with fairly positive European PMI readings have conspired to keep the pressure on the dollar in general. The dollar, …
New Month Same Forces New Month Same Forces Reviewed by Marc Chandler on August 02, 2010 Rating: 5
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