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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (22147)	12/8/2004 6:50:53 PM
From: Jamey	Read Replies (1) \| Respond to of 81014

This is only short term- The POG is already starting to recover. One day doth not a rally make. Gold has been in an uptrend since 2001. One day of profit taking and you are creaming in your shorts. (LOL) Wishful thinking I perceive. ~:O) James

To: sea_urchin who wrote (22147)	12/8/2004 11:20:01 PM
From: The Wharf	Read Replies (1) \| Respond to of 81014

IMO, there's going to be some interesting and very confusing play now as, despite the US twin deficits and all the bearish talk about the dollar and the US itself, the USD starts rising. Indeed, what I think is happening is that Europe and Japan have "chickened-out" of the squeeze play of the USD devaluation / Euro-Yen revaluation and are buying dollars again. If this is so, then the recent lows on the dollar and highs in gold should mark their end points for a while. Meanwhile, because they have been wrong-footed, one can expect some really desperate "end of the world" prophesies coming from the gold messiahs and the dollar bears. oanda.com Strongest foreign participation in Treasury Auction In another dose of positive dollar news, today's 5-year Treasury note auction of $15 billion drew a record high 65% participation by indirect bidders, which are usually a proxy of foreign central bank participation. This is not only higher than the 44% seen in last month's 5-year auction, but the highest foreign participation since the data have been made available in summer 2003. The auction is supportive for the US dollar as it stabilizes emerging fears that foreign central banks are tempering their demand for US treasuries. The news pushed the 10-year note yield to a 3-week low of 4.12%. >>Having a strong dollar is not the best for any economy today. It would not surprise me in the least if this was one reason the US was bought today. bloomberg.com Dollar Rises After Germany's Schroeder Says He Is Concerned by Euro Gains The dollar rose for a second day against the euro in Asia after German Chancellor Gerhard Schroeder said he is concerned about gains in the European currency. bloomberg.com China Has Slowest Factory Production Growth in 18 Months on Lending Limits Dec. 9 (Bloomberg) -- China's industrial production grew at its slowest pace in 18 months in November as the government restricted lending in industries including steel and autos to cool the world's fastest-growing major economy. Production rose a slower-than-expected 14.8 percent from a year earlier to 508 billion yuan ($61 billion) after climbing 15.7 percent in October, the Beijing-based National Bureau of Statistics said today on its Web site. Producer prices rose 8.4 percent in October from a year earlier, the government said last month, the fastest increase since at least 1998. Crude oil prices jumped 41 percent >>This is partially caused by the peg to the US and steel sheets rose 23 percent. Growth of steel and coal stockpiles suggests that demand in China is cooling, the International Energy said on Nov. 10 Chinese manufacturing activity expanded at the slowest pace in at least eight months in November, according to a survey of purchasing managers by CLSA Asia-Pacific Markets released on Dec 1. >>Remember Japan shot herself in the foot! One thai baht, This is very fast movement.