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  • Draghi Throws The Euro Under The Bus!

    In This Issue.

    * Ireland wants to stand on its own two feet.

    * Aso says yen has fallen too far.

    * Canada's strong jobs reports .

    * What is the Fed up to now?

    ...
  • US housing starts suffer…

    In This Issue..

    * Housing starts suffer...
    * Stressful times in Europe...
    * Aussie dollar moves higher...
    * Canada to raise rates...

    The news which drove the markets yesterday was no big surprise for the desk. Homebuilder confidence here in the US dropped to the lowest level since April 2009 as the homebuyer credits expired. Today we will get additional data on the housing market which is expected to show US housing starts continue to fall while foreclosures climb. While prices steadied over the past couple of months there is still a backlog of homes facing foreclosure which will equate to a very slow recovery for the housing markets. And in the US, as the housing goes so does the economy; so the data is not a good sign for our nascent recovery....