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Some excitement in Europe this morning due mainly to relatively good M/M Manufacturing PMI numbers: Eurozone : 48.8 vs 48.7 exp. Germany : 51 vs 50.9 exp ( prior rev. 48.9) France : 48.5 vs 48.5 exp. ( prior 44.3) [...]
The market reacted with extreme severity to the remarks of Mr. Braghi at the ECB press conference. The actions of the Governing Council were far-reaching in their support of the European banks: A rate cut, a loosening of collateral requirement [...]
We had some breathing space, as expected, since October but it has remained poor in oxygen. The S&P at the time was 1200. It’s been a rollercoaster: up to 1289, down to 1147 and this morning a Globex open of [...]
The chart above shows the whole picture. On Monday Nikkei traded 10 points away from the intraday Tsunami low of March. Today we saw a small rebound, with Nikkei opening at 8260, made a small high at 8350and close at [...]
Asia continues to be spooked by the EU situation. The Chinese reiterated again that unless a resolution is found rapidly “this will cause a new shock to the global economy” . Chinese Commerce Ministry says that global recovery will [...]
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