Archive - Dec 8, 2012 - Blog entry
It’s Official: The Consumer (And The Economy) Is Alive and Dead
Submitted by testosteronepit on 12/08/2012 20:57 -0500
Anything to see here?
Submitted by Bruce Krasting on 12/08/2012 17:14 -0500Obamacare - There was a significant “drafting” mistake in the original legislation.
MeRRY BuNGa CHRiSTMaS!
Submitted by williambanzai7 on 12/08/2012 14:23 -0500The return of Divine Bungasconi...
Shuffle Rewind 03-07 Dec " Only When I Sleep " (The Corrs, 1997)
Submitted by AVFMS on 12/08/2012 08:22 -0500Shuffle Rewind 03-07 Dec " Only When I Sleep " (The Corrs, 1997)
This week in review (compared to Fri 30 Nov COB):
Click on day for related post, on title for song.
Currency Positioning and Technical Outlook: Stirred by not Shaken
Submitted by Marc To Market on 12/08/2012 08:07 -0500
We have been tracking the deterioration of the US dollar's technical tone over the past three weeks. That ended abruptly. Weak euro area data, a more dovish than expected ECB, and heightened political uncertainty in Italy, saw the euro reverse lower after briefly moving above an eighteen month-old downtrend.
The UK also cut its growth outlook, and poor data increases the likelihood that the BOE may have to resume its gilt purchases in the new year, though consumer inflation expectations have ticked up recently.
At the same time, there appears to be little progress on the US fiscal talks. Whenever a top official signals this, the dollar seems to tick up on risk-off considerations, though with diminishing impact. The stronger than expected November employment data is not sufficient to stay the Fed's hand and the FOMC will most likely expand the long-term assets purchased under QE3+ at its meeting that concludes on December 12.
