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Little News from US Jobs and Trichet

September 02, 2010
The two key events of the day are passing with little fanfare. The weekly initial jobless claims in the US slipped and sufficiently so as to bring down the 4-week moving average for the first time in a little over a month, but remain too close to 500k to ease anxiety very much.
The ECB left rate on hold, revised up both growth forecasts a notch an…
Little News from US Jobs and Trichet Little News from US Jobs and Trichet Reviewed by Marc Chandler on September 02, 2010 Rating: 5
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Waiting for US Jobs and Trichet

September 02, 2010
There are two sources of event risk. The first, and lesser of the two, is the US weekly initial jobless claims. The modest pullback from the above 500k reading in mid-August was a constructive development, but the 4-week moving average still ticked up to its highest level of the year (486k). It will take a weekly reading today below 482k to bring …
Waiting for US Jobs and Trichet Waiting for US Jobs and Trichet Reviewed by Marc Chandler on September 02, 2010 Rating: 5
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Capital Markets Wednesday

September 02, 2010
The US dollar is mostly softer, though within yesterday’s ranges as market participants await the ECB’s press conference and US economic data. Sterling is under-performing perhaps being impacted by the softer string of recent data, including today’s construction PMI (52.1 vs 53.2 consensus and July’s 54.1) and the fifth consecutive monthly decline…
Capital Markets Wednesday Capital Markets Wednesday Reviewed by Marc Chandler on September 02, 2010 Rating: 5
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Canada and Mexico Benefit from Stronger ISM

September 01, 2010
The Canadian dollar and Mexican peso have benefitted from the better than expected US ISM and the risk-on environment. The strong gains in the Canadian dollar come even though as we noted yesterday, a BOC rate hike at the Sept 8th meeting, which previously was fully discounted, seems less likely given the string of disappointing Canadian data, dou…
Canada and Mexico Benefit from Stronger ISM Canada and Mexico Benefit from Stronger ISM Reviewed by Marc Chandler on September 01, 2010 Rating: 5
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US Foreign Securities

September 01, 2010
The US Treasury published its annual report yesterday on US holdings of foreign securities. It is a preliminary report and the final one is expected in late October.
The basic conclusion was that at the end of last year, Americans owned roughly $6 trillion of foreign equity and debt instruments. Unlike most foreign investors, when Americans invest …
US Foreign Securities US Foreign Securities Reviewed by Marc Chandler on September 01, 2010 Rating: 5
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Will the Risk Appetite Continue Through the North American Session?

September 01, 2010
Given the slump in equity markets in August and the heightened concern of a global economic slowdown, there seems to be a collective sigh of relief, not just that the month is over, but that the economies, generally speaking, may not have performed so badly. Australia got the ball rolling with a stronger than expected Q2 GDP. Exports rose 5.6% in …
Will the Risk Appetite Continue Through the North American Session? Will the Risk Appetite Continue Through the North American Session? Reviewed by Marc Chandler on September 01, 2010 Rating: 5
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Growth In Australia and China Lifts Sentiment

September 01, 2010
The US dollar is broadly lower to start September as stronger data, especially from Australia and China encourage new risk taking. Yet this has not seen the yen and Swiss franc, beneficiaries of risk aversion, lose ground against the greenback, though they are under-performing on the crosses. This, coupled with the fact that some countries like th…
Growth In Australia and China Lifts Sentiment Growth In Australia and China Lifts Sentiment Reviewed by Marc Chandler on September 01, 2010 Rating: 5
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