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Custody Holdings and The Dollar

December 18, 2009
As is well appreciated, the Federal Reserve competes with private sector banks in providing custody services to foreign central banks. The data is reported on a weekly basis, every Thursday. Yesterday the Fed reported that custody holdings rose by about $5 bln. That brings the Q4 increase to about $93.5 bln and the year-to-date figure to $432 bln.…
Custody Holdings and The Dollar Custody Holdings and The Dollar Reviewed by magonomics on December 18, 2009 Rating: 5
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CNBC: King Dollar & Growth CNBC: King Dollar & Growth Reviewed by magonomics on December 18, 2009 Rating: 5
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What is Moving the Dollar? New Driver Around the Corner ?

December 17, 2009
There have been many developments in the past couple of weeks, including Dubai and Greek woes, generally stronger than expected US economic data, and further confirmation of the unwinding of the Fed's liquidity provisions that could help account for the dollar's broad based strength. It is up, since the Dec 1, almost 3.75% against the euro…
What is Moving the Dollar? New Driver Around the Corner ? What is Moving the Dollar? New Driver Around the Corner ? Reviewed by magonomics on December 17, 2009 Rating: 5
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Basel Committee Clarifies, Contradicts Japan

December 17, 2009
Japanese media had intimated that there would be a long--decade or more--transition period to new capital requirement rules. This apparently was a factor behind the surge in Japanese banks shares yesterday, before consolidating today, for example. However, the BIS' Basle Committee on Banking Supervision indicated earlier today that the new cap…
Basel Committee Clarifies, Contradicts Japan Basel Committee Clarifies, Contradicts Japan Reviewed by magonomics on December 17, 2009 Rating: 5
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Greece and the Euro Zone

December 17, 2009
The heightened concerns about the fiscal situation in Greece and by extension the other weak credits in the euro-zone may be a source of pressure on the euro, but more than likely it is simply encouraging foreign exchange participants to do what they wanted to do in any event and reduce market exposure, which means buy back short dollars, ahead of…
Greece and the Euro Zone Greece and the Euro Zone Reviewed by magonomics on December 17, 2009 Rating: 5
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Dollar Rally

December 17, 2009
Some observers are linking the dollar's rally to yesterday's FOMC statement. We do not see much new in the statement. There was a minor modification of its description of growth, but the policy guidance remained the same. Conditions were such that interest rates could remain extraordinarily low for an extended period. One U.S. investment b…
Dollar Rally Dollar Rally Reviewed by magonomics on December 17, 2009 Rating: 5
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Chile--OECD Membership, Rates Steady, CLP Outlook

December 16, 2009
Yesterday was an important day for Chile. After two years of campaigning and making reforms Chile was invited to join the OECD. It is the first South American country to join and second behind Mexico in Latam. Chile becomes the 31st member of the OECD. Measures Chile adopted to pave the ground for membership included reforming the management of Co…
Chile--OECD Membership, Rates Steady, CLP Outlook Chile--OECD Membership, Rates Steady, CLP Outlook Reviewed by magonomics on December 16, 2009 Rating: 5
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