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Equity indices are higher and risk appetite buoyant after the advance reading of US Q4 GDP smashed estimates with a 5.70% QoQ seasonally adjusted annualized rate of growth, much larger than the 4.60% expected and the 2.20% reading from Q3. Adding to the encouraging growth figures, the Chicago PMI report outstripped forecasts with a 61.5 print (consensus: 57.4), and U.Mich Consumer Sentiment was… | ||||||||||||||||||||
Archive for January, 2010
January 30th, 2010
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January 30th, 2010
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Manufacturing activity in the U.S. is expected to expand at a slower pace in December, with economists forecasting the ISM index to weaken to 55.2 from 55.9 in the previous month, and the data is likely to spark increased volatility in the exchange rate as investors weigh the prospects for a sustainable recovery.
January 29th, 2010
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Asian stocks are lower today, weighed by tech stocks and lingering fears about the state of Greece and Portugal’s economic problems. The USD has strengthened on these fears, and also gleaned some support from the reassurance than Federal Reserve Chairman Bernanke was confirmed for a second term – eliminating the uncertainty of an interim period at Fed with only temporary leadership.
Overnight,… |
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