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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (13558)	1/29/1998 1:16:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 18056

Mohan- What a match in Dacca- Alvin Kallicharan was my guest on that day I had invited some old stars Big Safaraz Nawaz and others at may place to watch this match to be honest with you India deserved the victory but India pakistan matches are great ocassions and we all enjoyed it to the hilt- Tendulkar and Ganguly alongwith Saeed ANWER IS FUN MOHAN. 8000 is reality no more a steal it was a steal when we were down at 6900- now every inch will be fought with blood tear and sweat.gggg The last few points are most diffcult to earn and for me as a market commentator it would be injustice to mu position to leave the market I will run where I think is the right level to short for now it is 938 below this level on SPA and 1050-70 level- with 900 that a level we may see in May.

To: Cynic 2005 who wrote (13558)	1/30/1998 2:17:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 18056

Just logged-in - I have a lot of messages to read and very little time to get to them. But I can't pass this piece I read on Yahoo!! Trouble in North America? --------------------------- Friday January 30, 1:46 pm Eastern Time Bank of Canada raises rates to defend currency (Combines takes, adds quotes, details) By Jeffrey Hodgson TORONTO, Jan 30 (Reuters) - The Bank of Canada sharply hiked the country's interest rates on Friday in a move aimed at strengthening the beleaguered Canadian dollar. Canada's central bank raised its key bank rate -- similar to the U.S. Federal funds rate -- by 50 basis points to 5 percent. The move was matched by three of Canada's big six commercial banks, which raised their prime lending rates by 50 basis points to 6 percent. A basis point is one one hundredth of a percentage point. The rate hike came after the value of the Canadian dollar fell to historic lows on Thursday. The currency slid as low as 68.09 U.S. cents -- its weakest level since its creation in 1858. ''The move was not a total shock because the currency was obviously on a one-way street down and there were certainly a number of calls for the bank to do something about it,'' said Doug Porter, senior economist at brokerage Nesbitt Burns Inc. The Canadian dollar immediately strengthened after the hike on Friday, rising to 68.46 cents. But the currency soon slipped back and the central bank intervened in the currency markets, buying the unit to keep it from sliding further. The Bank of Canada said in a statement that the the dollar's slide was not consistent with the outlook for the Canadian economy and that the hike was designed to strengthen the currency. ''Downward pressure on the exchange rate for the Canadian dollar has intensified in recent days, leaving the dollar at levels inconsistent with the underlying trends of the Canadian economy,'' the central bank said. ''This adjustment in the Bank Rate is designed to rebalance monetary conditions and provide support for the Canadian dollar,'' the bank said. The Bank of Canada's last previous rate hike was on Dec. 12, when it raised rates by 50 basis points in a bid to shore up the dollar. Much of the dollar's recent weakness has been attributed to lowered expectations for Canadian economic growth, caused by Asia's financial crisis and its effect on commodity prices. But market disappointment that the central bank had not raised interest rates sooner to halt the dollar's slide has also hurt the currency.