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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Mark Adams who wrote (3921)	5/24/2001 8:09:08 PM
From: Mark Adams	Read Replies (1) \| Respond to of 33421

FX ALERT: AUD/USD drops back to 0.5180s on local bank selling Sydney--0848 JT/2348 GMT--May 25 AUD/USD fell back from the 0.5220 resistance level to a low of 0.5187 on selling from two local banks. Offshore involvement has not been mentioned by dealers, who suggest that the fall was exaggerated by a lack of liquidity after recent volatility. AUD/USD has since bounced to 0.5200 and the 0.5170/80 level is expected to hold in Asia, with 0.5220 on top.

To: Mark Adams who wrote (3921)	5/25/2001 1:10:04 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

The AUD is trying to regroup given the weakness in the Euro as well as the perceived potential stalling/topping of the gold rally. Highlights Q1 GDP revised to 1.3% growth from 2.0% first reported. 3.2% GDP price deflator. Key Factors Personal spending of 2.9% in line with Q4, but most came from January post-holiday surge. Personal spending composed of strong 12% durable goods (auto rebound), modest nondurable and weak service spending. Far smaller decline in business investment than expected after Q4's first decline since 1992. Inventory growth fell off very strongly, a contraction in levels. Leaves extremely strong 4.4% final sales. 9% import plunge left strong boost from net exports after eight quarters of steady drag. Residential investment rose after back to back declines, non-res construction jumped 17%. Government spending rose a strong 4.7%. GDP deflator jumped 3.2% (from 2.0% in Q4), PCE price deflator rose 3.2%.