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  • Moodys Leaves Spain's Rating Unchanged.

    In This Issue.

    * Euro soars on Moodys decision.

    * Did U.S. Retail Sales really soar?

    * Aussie dollar pushing toward 200-DMA

    * Singapore dollar hits 1-year high!

  • Optimism For Spanish Banks.

    In This Issue.

    * Spain's banks need 53 Billion euros.

    * China's manufacturing falls just short of 50

    * Krona the new franc?

    * ECB, BOE, BOJ meet this week.

  • Greece To Receive Concessions In Terms.

    In This Issue.

    * Bundesbank effect on currencies is short-lived.

    * RBA doesn't mention need to weaken A$ .

    * Markets breathe a sigh of relief with Greek inspection.

    * Spain has successful T-Bill auction.

  • Increasing The Ante.

    In This Issue.

    * France & Germany agree to increase in EFSF

    * Spain gets downgraded by two notches!

    * Norges Bank meets today.

    * CFTC votes 3-2 to limit commodity positions.

  • A fundamental shift in currency strategy.

    In This Issue..

    * Dollar no longer being bought as safe haven...
    * Jobs data in the US will disappoint...
    * Canadian dollar gets the green light...
    * Aussie up, Kiwi down...

    Good day... Friday is finally here. This has been a pretty busy week, and from the looks of things, today is going to be just as busy. The news wires are full of stories this morning, and today is what Chuck calls 'Jobs Jamboree Friday' so we can expect some good volatility in the markets. Lots to get to this morning, so let me get right to it.

    The weekly jobs numbers released yesterday morning showed 25k more people signed up for unemployment last week than the week prior. The number of continuing claims declined slightly, but remains above 4.5 million. The data confirms what everyone outside of CNBC has been saying for quite a while, this is a 'jobless recovery' (if you can even call it a recovery!). What growth we have had has been spurred by government spending, the private sector just isn't expanding, and won't probably expand for some time....
  • Now It's Spain...

    In This Issue..

    * Euro drops 2-cents overnight...
    * All Risk is taken off the table today...
    * Geopolitical problems steady Gold...
    * The Budget Cuts just keep coming!

    Good day... And a Terrific Tuesday to you! Well, it was almost a "perfect ride" to work this morning, as I hit all the green lights until the very end! UGH! See, it doesn't take much to make me happy!

    The euro's green light ended last night too, as 'Now It's Spain' (NIS)... As I was packing up to go home yesterday afternoon, the euro had moved beyond 1.24, and I said, 'I wonder what's got the euro so perky this afternoon'... Well, that 'perky' feeling the euro had at that time was wiped out and more by fears that Spain's problems are now going to take center stage... Greece is an afterthought at this point, now it's Spain......