Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: maceng2 who wrote (64799)	3/25/2007 9:24:10 AM
From: Haim R. Branisteanu	of 116555

Clueless Babble - Dollar Gains This Week After Surprise Increase in Home Sales By Ye Xie - March 24 (Bloomberg) -- The dollar gained versus the euro this week, rebounding from a two-year low, as signs of a recovering housing market reduced speculation the Federal Reserve will cut interest rates. The U.S. currency touched its lowest since March 2005 after the central bank removed a reference to ``additional firming'' in its statement following a policy meeting this week, signaling it's open to either lowering or raising borrowing costs. The dollar erased all its losses after an industry report showed sales of previously owned homes unexpectedly rose. bloomberg.com Did not know that recovery is defined as more sales at lower prices but supposedly to explain the unwinding of one sided trades is also a good justification. On the same time FED Governor Frederic Mishkin is preparing the market for lower FED rates in front of very slowly but stubbornly rising inflation Fed's Mishkin Says Inflation Will Gradually Drop to 2 Percent By Vivien Lou Chen - March 24 (Bloomberg) -- Federal Reserve Governor Frederic Mishkin, the newest member of the central bank's board, said inflation is poised to recede only ``gradually'' given the recent rise in fuel and energy prices. The Fed's most closely watched measure of inflation should slow to about 2 percent from the current 2.25 percent, Mishkin said during a speech in San Francisco. Moving it below that would be difficult without a shift in monetary policy, he added. bloomberg.com All I know is that carry traders sell the low yielding currency to buy the high yielding currency how those two articles mach true market action is beyond me. Therefore most financial reports today are random babble

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