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Strategies & Market Trends : Natural Resource Stocks

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To: isopatch who wrote (6979)	1/29/2004 3:38:16 PM
From: Jim Willie CB	Read Replies (2) of 108920

Dollar/Yen back below 106 again, a currency non-event real gains, as was the case earlier in January, are with the US$ gaining versus the euro euro at 124 now some damage against the CAN$, now at 75 we finally got the gold and euro shakeout we expected funny, it came almost exactly one year after a similar strong shakeout at end of Jan2003 I dont expect Fed Open Mouth Committee policy i.e. talk of raising rates later when patience is exhausted will change the fundamentals behind the USDollar implosion heavy and growing federal deficits heavy and hardly reducing trade gaps foreign dependence for 45% of Trez debt, and 35% of GSE debt I like ECB Wellink's comments “There is no need to take special measures” “The forces at work are much stronger and can’t be neutralized by a minor change in rates.” / jim

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