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Q3 GDP No Barrier to QEII

October 29, 2010
Q3 US GDP rose 2%, in line with the expectations which had drifted slightly higher in recent weeks. Consumption contributed 1.8 percentage points to growth and auto output added 0.4 percentage points to growth. Inventories added 1.4 percentage points, while net exports subtracted 2 percentage points. Business spending on equipment and software rem…
Q3 GDP No Barrier to QEII Q3 GDP No Barrier to QEII Reviewed by Marc Chandler on October 29, 2010 Rating: 5
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Another Piece of the Yen Puzzle

October 29, 2010
Investors and policy makers are befuddled by the yen. Its strength continues to defy the traditional explanatory models that typically give a privileged position for the risk appetite, interest rate differentials, or external positions.
Earlier in October, the BOJ announced that it would purchase JPY5 trillion (~$61 bln) of various assets, includi…
Another Piece of the Yen Puzzle Another Piece of the Yen Puzzle Reviewed by Marc Chandler on October 29, 2010 Rating: 5
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Take Aways

October 29, 2010
The US dollar has recouped a good part of yesterday’s losses as the choppy range trading that has characterized recent trading continues. Despite a string of poor economic data, pointing to stronger deflation forces and weaker output in Japan, the yen is the strongest currency, posting across the board gains.
German retail sales were very disappoi…
Take Aways Take Aways Reviewed by Marc Chandler on October 29, 2010 Rating: 5
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More Thoughts about US Q3 GDP

October 28, 2010
The next string of US real sector reports are likely to solidify evidence that the economy is gradually recovering.
Tomorrow should kick of the string with the first look at Q3 GDP, but the string of data is likely to include auto sales in September, which appears to possibly be the strongest since the cash-for-clunker program ended last summer an…
More Thoughts about US Q3 GDP More Thoughts about US Q3 GDP Reviewed by Marc Chandler on October 28, 2010 Rating: 5
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EU Summit: Two Big Issues

October 28, 2010
The EU is holding a two day summit. There are two issues that are of interest to the foreign exchange market.
First, the German-France condominium reached an agreement about tightening up the deficit rule and the stick that would be used. The absence of automaticity has been criticized. It will be recalled that in 2003 France and Germany had breac…
EU Summit: Two Big Issues EU Summit: Two Big Issues Reviewed by Marc Chandler on October 28, 2010 Rating: 5
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