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  • Finally some positive news for the US labor mkt.

    In This Issue..

    * Finally some positive labor news...
    * ECB and UK rate decisions...
    * China to stress test banks...
    * Happy Birthday Delaney Grace!!...

    Good day... Thunderstorms are rolling through the St. Louis area this morning, and while we don't need the rain, the cooler temperatures they are bringing with them are certainly welcome.

    The dollar moved a bit higher yesterday as data released here in the US finally contained some positive news for US workers. The ISM's index of non-manufacturing businesses rose to 54.3 in July from last month's 53.8 figure. And more importantly for market psyche, it was well above expectations which had predicted a drop to 53. About 90 percent of the US economy is service related, so this number is more closely watched than the manufacturing reports....
  • The Rot On The Vine Goes Deeper...

    In This Issue..

    * The 31st bank is closed in 2009
    * China is showing signs of improvement...
    * The so-called 'decoupling' taking place?
    * Jobs Jamboree ends the week...

    Good day... And a Marvelous Monday to you! I'm Back! Once again, the traveling troubadour returns to the saddle... I'm here for two weeks, then gone again for the Las Vegas Money Show, then I get a nice reprieve in June before heading to Vancouver in July. There's a day game at Busch this Thursday, and I've already been invited to go, so I'm already getting in the frame of mind for that!

    OK... Chris did a great job bringing you the Pfennig each day last week... I was still writing each day, giving daily updates to the FXU people. Chris will be traveling with me to "lost wages" , I mean, Las Vegas, so I'll be writing from the road, which long time readers know I just absolutely love!... NOT!...