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Two Developments Rattle FX Market

January 22, 2013
There are two main drivers in the foreign exchange market today:  the much anticipated BOJ meeting and the much stronger than expected German ZEW survey.  
Anticipation of aggressive easing by the BOJ today has kept the yen on the defensive.  However, the combination of "sell the rumor and buy the fact"  activity and, arguably, some dis…
Two Developments Rattle FX Market Two Developments Rattle FX Market Reviewed by Marc Chandler on January 22, 2013 Rating: 5
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Great Graphic: Sourcing Boeing's 787 Dreamliner

January 21, 2013
This Great Graphic was on Business Insider, who says they found it on Zero Hedge, who got it from Goldman Sachs.  
It depicts the internationalization of the production of Boeing's 787 Dreamliner.  The supply chain draws in eight countries, in addition to the US, according to the picture. However, other reports suggest even more countries wer…
Great Graphic: Sourcing Boeing's 787 Dreamliner Great Graphic:  Sourcing Boeing's 787 Dreamliner Reviewed by Marc Chandler on January 21, 2013 Rating: 5
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Eight FX Considerations for the New Week

January 21, 2013
The US dollar begins the week mostly firmer.  The notable exception is the Japanese yen, which has seen some position adjustment ahead of the outcome of the BOJ meeting tomorrow.  In Asia, and Europe thus far, the dollar has found support near its five day moving average and the 38.2% retracement of its latest leg up (from Jan 16), both of which c…
Eight FX Considerations for the New Week Eight FX Considerations for the New Week Reviewed by Marc Chandler on January 21, 2013 Rating: 5
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Great Graphic: Europe's Unit Labor Costs and Productivity

January 20, 2013
These Great Graphics were posted  Fabrizio Goria (@FGoria), a financial reporter for EuroIntelligence.  They draw on research by Societe Generale and data from Eurostat.  
I have posted graphs of Europe's unit labor costs before.  It is probably the best single indicator of not just external competitiveness, but also of internal robustness of…
Great Graphic: Europe's Unit Labor Costs and Productivity Great Graphic:  Europe's Unit Labor Costs and Productivity Reviewed by Marc Chandler on January 20, 2013 Rating: 5
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Cool Video: Is Light a Particle or a Wave? Cool Video:  Is Light a Particle or a Wave? Reviewed by Marc Chandler on January 19, 2013 Rating: 5
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Currency Positioning and Technical Outlook: Correction at Hand?

January 19, 2013
The technical tone of the major foreign currencies deteriorated in recent days.  It appears to be a cascading effect.  Favorite risk-on currencies, like the dollar-bloc, failed to participate in the move against the greenback.  The Swiss franc took the dubious honor of being the weakest currency last week, losing 2.2% against the dollar.

Sterlin…
Currency Positioning and Technical Outlook: Correction at Hand? Currency Positioning and Technical Outlook:  Correction at Hand? Reviewed by Marc Chandler on January 19, 2013 Rating: 5
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Italy: Economy Rotting While Focus on Elections

January 18, 2013
The machinations of Italian politics, with the election next month, is overshadowing the underlying rot of the Italian economy.  Two developments today should be seen as a warning sign by investors. 
First, November industrial orders, understood to be a leading indicator, fell 0.5%.  This follows the 1% drop in November industrial output, reporte…
Italy: Economy Rotting While Focus on Elections Italy:  Economy Rotting While Focus on Elections Reviewed by Marc Chandler on January 18, 2013 Rating: 5
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Dollar Finishing Week on Firm Note

January 18, 2013
The US dollar is trading firmly.  The official verbal commentary this week by Europe's Juncker and Japan's Amari were more disruptive noise a true signal.  These mis-directional cues whipsawed short-term participants and served to obscure what was really happening.  
One of the most important take aways, it seems, from this week's acti…
Dollar Finishing Week on Firm Note Dollar Finishing Week on Firm Note Reviewed by Marc Chandler on January 18, 2013 Rating: 5
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Great Graphic: New Insight into Global Trade

January 17, 2013
This Great Graphic is a new tool developed by the OECD and the World Trade Organization.   It allows a more sophisticated understanding of modern trade of goods and services in which the production process has been fragmented. It is not simply global supply chains that we are interest in, but the valued-added chains. The quaint counting of good…
Great Graphic: New Insight into Global Trade Great Graphic:  New Insight into Global Trade Reviewed by Marc Chandler on January 17, 2013 Rating: 5
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