Wednesday, July 26, 2006

Beige book points toward a slowing economy....

The Beige book today came out on the weaker side, stating that "The pace of Economic growth has slowed". It also stated that "rises in wages,prices of final goods stayed modest". The market took this as another sign that the FED will not be raising rates in August as Eurodollar futures rallied over 6 pips and the dollar took another tumble. I foresee more U.S. dollar weakness in the weeks/months ahead.



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