Thursday March 9, 2006 - 11:49:08 GMT
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Black Swan Capital - www.blackswantrading.com
BOJ does its thing
â€śThe commodity futures game is a money gameâ€”not a game involving supply-demand of the actual commodity as commonly depicted.â€ť
R. Earl Hadady
The yen is responding so far today to the BOJ news. Is it knee-jerk, or the beginning of a trend?
Commodities stabilized this morning. Is it a liquidity/growth reprieve? Is the story weâ€™ve been weaving over the past few weeks all wet?
â€˘ The BOJ said it will take a â€śfew monthsâ€ť to reduce the massive liquidity levels.
â€˘ Yesterday, the Reserve Bank of New Zealand decided to keep its interest rates on hold, saying: â€śRecent data have confirmed our earlier view that economic growth is slowing.â€ť
â€˘ Yesterday, Australia said employment growth of 25,900 was twice what was expected; the biggest gain in six months.
â€˘ Today the Bank of England will likely keep interest rates unchanged.
â€˘ Tomorrow we get a look at US non-farm payrolls
US $ Index Daily:
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