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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (112670)1/29/2005 1:14:15 PM
From: Galirayo  Read Replies (1) of 209892
 
There's a few more events to keep in mind Freep. It's going to be a busy week.

>>oh, and Iraqi elections are done day, though no one's given me a cogent reason why those have a real US market impact). Tuesday is the Fed. I'll give a dollar to anyone who can predict the next five trading days in detail right now <g><<

China Official Says Stronger Banks Needed Before Dropping Peg
Jan. 29 (Bloomberg) -- China's vice premier, Huang Ju, said the government needs to strengthen its banking system before dropping its decade-old peg to the dollar.
[snip]

Debate Picks Up

The debate on currency reform is picking up in China as well. An official at the central bank, the People's Bank of China, yesterday reaffirmed its commitment to the fixed exchange rate after a central bank adviser said the time is right for an adjustment.

The comments at Davos by Yu Yongding, a member of the central bank's monetary policy committee, are his own opinions and don't reflect official policy, said the central bank official, who spoke on condition of anonymity. Yu told reporters ``now is the time to revalue.''

The yuan would appreciate to 7.8667 against the dollar at the end of trading in Hong Kong last night, according to forward contracts that let investors bet on the future value of the currency or hedge investments denominated in it.
[more]
quote.bloomberg.com

OPEC on Sunday too.

Bush to detail plans in State of the Union speech.
8 minutes ago
news.yahoo.com

Ray
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