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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (5025)	1/14/2004 12:45:49 PM
From: Haim R. Branisteanu	Respond to of 110194

The problem is not so much EZ in the trade deficit the reason the EUR rises is that the ECB is not proactive like Japan. Trading Partners The trade deficit with the European Union, the second-largest trading partner of the U.S. last year, narrowed to $7.4 billion in November from $8.7 billion. European Central Bank officials this week expressed concern about the euro's 20 percent rise against the dollar in the last year. ECB President Jean-Claude Trichet said Monday he's worried about ``brutal'' swings in the exchange rate. The deficit with Canada, the largest U.S. trading partner, narrowed to $4.2 billion. The gap with Mexico narrowed to $3 billion. The shortfall with Japan narrowed to $5.7 billion. Japan is in better shape than EZ but their currency is quite stable because of intervention. Interestingly there is no Mexico or Canada bashing or even Japan. EZ 7.2b Jap 5.7b CAD 4.2b Mex 3.0b If one would take a per GDP or per capita deficit # teh EZ is suffering the most from the developing countries. If not for the French the world would be so much more in harmony As to the trade deficit the number is quite surprising if taking into account that sales rose substantially YoY BWDIK Haim