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To: pater tenebrarum who wrote (85434)	2/9/2001 4:13:38 PM
From: John Pitera	Read Replies (1) \| Respond to of 86076

check out this correllation between gold and the euro geocities.com While yesterday's monthly report from the ECB noted that medium term risks to price stability had become more balance, it also suggested that factors which pose upward risks are still present. In other words, don't expect a rate cut anytime soon. such hawkishness has helped to unleash another wave of deflationary pressures across the foreign exchange market, as even Eurogroup chair Reynders has admitted that the the zone could not realistically expect to be an "engine for world growth." Such thoughts are easily supported by the positive correlation between the euro and front-month gold, both of which have made yet another turn lower. this may help to support treasuries near term