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Brief Thoughts on the Price Action

November 06, 2012
Turnaround Tuesday was not all that convincing.  The correction really took on more of the appearance of consolidation.   Renewed dollar gains look likely, regardless of the electoral results, which are still not known at this juncture.  
The lifting of the event risk posed by the election is likely to be over shortly and this is good news for in…
Brief Thoughts on the Price Action Brief Thoughts on the Price Action Reviewed by Marc Chandler on November 06, 2012 Rating: 5
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Unlikely Day for Turnaround Tuesday

November 06, 2012
The US dollar is consolidating its recent gains with a most unlikely backdrop.  European data was much weaker than expected.  The Greek parliament vote on reforms and the 2013 budget look like cliff hangers.  With national polls pointing to a statistical dead heat, the US presidential election is thought to be coming down to the wire.  Legal mane…
Unlikely Day for Turnaround Tuesday Unlikely Day for Turnaround Tuesday Reviewed by Marc Chandler on November 06, 2012 Rating: 5
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The French Connection

November 05, 2012
After the Berlin Wall fell and Germany was reunified, it struggled for several years as the "weak man" in Europe, before enacting structural reforms.  Italy and Spain, as well as the periphery of Europe more generally,  are being forced by investors and the EU to enact structural reforms.  If only France were that lucky...
France has si…
The French Connection The French Connection Reviewed by Marc Chandler on November 05, 2012 Rating: 5
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Six FX Drivers

November 05, 2012
This is a momentous week.  The two largest economies have political transitions, three central banks meet, and Greece's parliament votes on key reforms, which if approved, will avert an immediate crisis. as the beleaguered country is now projected to run out of funds within the fortnight.  
At the same time, nothing changes.  The fiscal cliff…
Six FX Drivers Six FX Drivers Reviewed by Marc Chandler on November 05, 2012 Rating: 5
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Great Graphic: QE3+ Yet to Impact Balance Sheet

November 04, 2012
This Great Graphic comes from Also Spracht Analyst.  It shows the composition of the Federal Reserve's balance sheet as of November 1.  There has been some fluctuation since QE3+ was announced, but the Fed's balance sheet is essentially flat.  
The reason appears to be due to technical factors having to due with idiosyncrasies of the mort…
Great Graphic: QE3+ Yet to Impact Balance Sheet Great Graphic: QE3+ Yet to Impact Balance Sheet Reviewed by Marc Chandler on November 04, 2012 Rating: 5
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