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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (19166)	12/21/2004 9:40:40 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

U.S. retail chains´ same-store sales up 1.6% last week Tuesday, December 21, 2004 1:00:54 PM afxpress.com U.S. retail chains' same-store sales up 1.6% last week WASHINGTON (AFX) -- U.S. retail chains' saw their same-store sales rise 1.6 percent in the week ended Dec. 18 compared to the previous week, according to the latest index tracking shopping activity compiled by the International Council of Shopping Centers and UBS. This followed a week-to-week gain of 1.2 percent that retailers registered in the Dec. 11 week. "With just a few days left before Christmas, consumers continued to pick up their holiday shopping," said Mike Niemira, ICSC's chief economist. He noted that as of Sunday, 31 percent of consumers had totally completed buying holiday gifts, raising prospects for a rush of last-minute shopping. For the holiday season, ICSC affirmed that it foresees sales growth of 2.5 percent to 3.0 percent on a year-over-year basis, according to Niemira.

To: John Vosilla who wrote (19166)	12/21/2004 9:42:42 AM
From: mishedlo	Respond to of 116555

Germany´s Eichel criticises Buba´s decision to limit gold reserves sales Tuesday, December 21, 2004 11:15:11 AM afxpress.com Germany's Eichel criticises Buba's decision to limit gold reserves sales FRANKFURT (AFX) - German Finance Minister Hans Eichel criticised the Bundesbank's decision to sell only a limited amount of its gold reserves [here's a rea; moron - mish] "The Bundesbank will have to explain why it alone of the 15 central banks in the gold agreement is not exercising its sale option despite the high gold price," Eichel said in an interview with Financial Times Deutschland Under a gold sales agreement between a number of European central banks that was renewed in September 2004, the Bundesbank had the right to sell 120 tonnes by September 2005, which Eichel said would bring in revenues of about 1 bln eur for the government The Bundesbank yesterday said it will sell eight tonnes of gold in the next nine months to Germany's finance ministry. But it added it has no plans to sell the rest of its quota -- 112 tonnes -- in the next nine months Eichel acknowledged that decisions over Germany's gold reserves were the responsibility of the Bundesbank "It's their responsibility. I respect that but I get advice from Frankfurt often enough so I should at least be able to ask questions," he said

To: John Vosilla who wrote (19166)	12/21/2004 9:48:33 AM
From: mishedlo	Respond to of 116555

Ifo´s Sinn urges ECB to intervene on forex market to stop rapid euro rise Tuesday, December 21, 2004 10:24:45 AM afxpress.com Ifo's Sinn urges ECB to intervene on forex market to stop rapid euro rise MUNICH (AFX) - Ifo research institute president Hans-Werner Sinn urged the European Central Bank to intervene in the currency market in order to stop the rapid appreciation of the euro against the dollar He said the exchange rate fluctuations are too big currently and "because of that, the central banks should intervene." "I believe the time has come" for them to intervene, he added. Ifo forecasts the euro next year will be at an average of 1.33 usd compared with 1.24 this year