Economy and finance

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Whats Moving The Markets?

In the brief period since President Bush announced his choice for the new Federal Reserve Board Chairman, a number of major financial markets have been dramatically affected. The purpose of this essay is to explore whether the hand of Alan Greenspan or his likely replacement, Ben Bernanke, were behind them.

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The Canadian Dollar Bull Market

In April, 2003, I wrote an essay entitled, “A Canadian Dollar Bull Market Will Greatly Benefit Holders of Canadian Gold Mining Equities”. In it I discussed my belief that a Canadian Dollar Bull Market existed, and that it was destined to greatly benefit U.S. investors who purchased Canadian resource stocks. This was in addition to the substantial gains that I foresaw in the stocks themselves.

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The repercussions from the Yuans revaluation

After nearly a decade-long fixed exchange rate, it was announced Thursday that the Chinese yuan was to be severed from its seemingly steadfast link to the U.S. dollar. Instead, it is to be allowed to “float” against a yet to be named basket of currencies.

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At last, a Yuan Revaluation!

China has cut the link to the U.S. $ of Yuan 8.277, switching the link to a basket of foreign currencies instead at Yuan 8.11 a 2.02% revaluation. This is a major step for the Chinese, always cautious, taking small steps to gauge the unseen impact before taking larger steps.

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The dollar is really pushing its luck

The dollar is really pushing its luck here, having risen to hit 3 separate but concurrent targets. In the last update we forecast that it would confound most pundits by stubbornly pushing higher, despite the heavy resistance, and such has proved to be the case.

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