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To: yard_man who wrote (166459)	5/17/2002 12:28:09 PM
From: Haim R. Branisteanu	Respond to of 436258

tippet from an economic point of view nothing much has changed to the contrary Europe is in worst shape than the US. Italy consumer confidence fell today , Spain has higher unemployment than last quarter, Germany has growing budget deficit, France is on the same lane manufacturing is down 2.5% YoY in EZ, inflation higher than expected. But if you take a look at when the EUR started to accelerate upwards you will see it coincides with the Saudi visit in Texas were W bowed to their demands, oil shut up 15% to 20%. The only positive news are from Russia who committed / promised yesterday to pump more oil by June to lower prices. In a nutshell there is no fundamental reason for the EUR to be above the 0.90 level