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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....

In This Issue..

* A Bias to take on risk...
* China's Factory Output soars!
* Brazil exports "stuff"!
* Calling a bottom in Gold...

Good day... And a Happy Friday to one and all! The 40 mph winds have stopped, which makes the cold a little more bearable... So... With the sun out yesterday, I would have to say that today will be a Fantastico Friday... Our office get together is tonight, should be a good time...

Well... Yesterday, the non-dollar currencies looked like they were ready to break out of their funk against the dollar, led by the high yielders of Australia, and especially New Zealand... But, that flamed out as the day went on as the data for the U.S. was mixed, and did not give anyone a warm and fuzzy about the general direction of the economy....