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Strategies & Market Trends : Natural Resource Stocks

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To: isopatch who wrote (1471)10/6/2003 11:06:30 AM
From: Jim Willie CB  Read Replies (1) of 108699
 
CNBC interview on currencies with Benfer from Bank Montreal
he is their VP of Foreign Exchange

USDollar will remain weak, addressing soem Asian trade imbalances
G7 Meeting has said ministers want the US$ more flexible
with some signs of USEcon strength, some offsetting is evident
US exporters will benefit, or that is the hope
the main emphasis is to save US jobs
he sees a jyen trading range of 108-114, perhaps as low as 105

on the euro, he said its strength is an issue now in EU
if euro > 120, big problem for EU mfrs
their profits will be squeezed from a continued upmove
these mfrs are now complaining to the Euro Central Bank
but in EU, expect more flexible labor
we are likely to see some labor concessions from unions

---------
Challenger & Christmas issued a report on jobs
they expect 10% of US jobs to go overseas by end of 2004
of course, some jobs will be created inside the USEcon
WOW


/ jim
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