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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: dennis michael patterson who wrote (42693)1/30/2003 8:30:47 PM
From: Haim R. Branisteanu  Read Replies (4) of 52237
 
According to the minutes from the December 10th FOMC meeting, Fed members retained a mildly optimistic view of the economy, save for worries over geopolitical risks. The committee also continued to downplay the chances of the onset of an appreciable deflation, believing that risks remained balanced between the upside and downside. Their remarks coupled with the decision to leave the bias balanced at yesterday's meeting suggests the Fed will likely leave rates steady at 1.25% unless a major shock confronts the economy.

Meanwhile, Eurozone companies are stepping up their complaints regarding the impact of the euro's appreciation on their earnings. German drug company Schering, French aluminum firm Pechiney, and French industrial gas group Air Liquide all claimed that the euro's rise is undermining exports and hurting overseas profits. Earlier today, EU Monetary Affairs Commissioner Pedro Solbes clarified his position, noting that he was more concerned with the pace of the single currency's ascent rather than the exchange rate. However, ECB's Welteke repeated for the third time that if the euro continues to rise at a rapid pace, it could hinder economic growth in the Eurozone. Moreover, he asserted that the sharp rally of the euro is not due to economic fundamentals but attributable to geopolitical fears surrounding Iraq.
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