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To: Knighty Tin who wrote (236847)	4/22/2003 11:42:01 AM
From: Haim R. Branisteanu	Respond to of 436258

KT, if Germany was not teetering on recession and German banks on the verge of bankruptcy I would not be surprised that the EUR would rise. IMHO what we are witnessing is US trade deficit v. near collapse of German banking and social system. As to budget deficits and housing prices EZ has higher budget deficits and also higher housing prices if valued on net income or free cashflow. Therefore I think relative marginal issues rule now supreme ........ like impact of Iraq recovery or N. Korea nuclear program. Issues that may add or remove around $100 billion to the US economy Therefore IMHO both issues are marginal from the bigger picture of world economy and flow of funds. In any case the EUR may form an H&S on the intraday charts