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  • Housing data shows a uncertain recovery here in the US...

    In This Issue.

    * Housing recovery in the US not so sure...

    * German and French confidence support the euro...

    * Oil pushes NOK up, but CAD can't catch a break...

    * Mexican peso the best performer this year, with more to come...

    ...
  • Taking On Risk Again!

    * Mexico's rate goes higher! * A 100 Billion dollar note? * Euro rates to go higher? * Oil's sell off might be short-lived... ** Taking On Risk Again! Good day... And a Marvelous Monday to you! All my bags are packed, I'm ready to go, the taxi's waiting, he's blowing his horn... Yes, I'm off to Vancouver this morning... This becomes a labor of love for me especially today, with Chris taking off the same week I'm in Vancouver, I'm writing the Pfennig on my way to the airport! Graham Nash wrote a song about that... But I won't go there after the intro! Oh, what the heck! Just a song before I go... This will be short-n-sweet this morning, as I've got to get to the airport! Friday, saw the currencies range bound once again, as the data cupboard was empty. And... We didn't have any major losses print, or we didn't have any news at all about all the rot on the U.S. economy's vine. The Biggest mover was... Drum roll please... The Mexican peso! Yes, the Mexican peso outperformed all other currencies last week, reaching a 5-year high VS the dollar after the Mexican Central Bank raised interest rates 1/4% (25 BPS) to 8%, pushing the peso to its highest level VS the dollar since 2003!...