To: mishedlo who wrote (17195 ) 11/30/2004 12:16:21 PM From: russwinter Respond to I found it, it's out. This might explain the sell off in gold, as the false playbook has been overly linking USD-Euro. This probably gets Europe off the hook for now on rate increases. Meanwhile US yields continue to increase some. This is these guys idea of a USD defense, should work for all of about two weeks when combined with a decent jobs report. I'm expecting a false breakdown in gold (and lowering of spec positions) and gold shares, and another fantastic opportunity to reload. Message 20812357 Euroland bonds fell overnight as a report showed inflation in the 12-nation region slowed to 2.2% from 2.4% in October. Short maturities in Euroland fell sharply to hang near their lowest yield since April. The dollar rallied against the yen and euro overnight on signs of slowing economic growth in Japan and Euroland. Falling production, employment, and household spending in Japan pushed the dollar to a Tokyo high of 103.37, but the buck has since erased gains trading at 102.7900. The dollar also got some relief against the euro overnight on a EuroZone report that business confidence has stalled in the region. The euro fell to a low on the London open of 1.3237, but has erased declines, even making a brief appearance through 1.33. The weak data out of Japan and Euroland is providing only momentary relief as concern still weighs on the amount of dollar reserves held by foreign central banks. The 10-years are -03/32nds yielding 4.330%.
