BOC, ECB, BOE & FED Rate Announcements
AutoZone, the largest U.S. retailer of automobile parts, reported Q1 net income increased 7%, same store sales rose 1.3%.
Cost Plus reported a wider loss of $13.9 million for Q3, same store sales, fell by 4.3%, a year ago they fell by 1.3%.
Dow Chemical said it would shut down a number of plants and eliminate about 1,000 jobs to cut costs and direct capital toward businesses with better growth prospects.
Currency gain curbs inflation... BO Canada cut 25 bps to 4.25%... Over the last year gains in the Loonie have it on par with the dollar.
"The Bank now expects inflation over the next several months to be lower than was projected in the MPR.
There continue to be upside risks to the Bank's inflation projection. The downside risks to the Bank's inflation projection have increased.
All these factors considered, the Bank judges that there has been a shift to the downside in the balance of risks around its October projection for inflation through 2009."
Alrighty then, despite runaway stagflation, and an impending Fed cut, the BOC lowered. The BOE & ECB... The Euro & Yen account for 70% of the dollar index.
German inflation +3.3% in October, the EU +2.7%, prior to the German data. Sept YOY EU money supply grew by 11.3%, Oct YOY +12.3% the highest growth since July 1979.
With runaway stagflation and Euro currency gains, what will these central banks do on Thursday?
The ECB is at 4%, should the Fed cut to 4.25%... thats another 25 bps hair cut (already 75 bps) on the Yen Dollar carry trade.
Equities may rally temporarily, then fall as dollar assets are liquidated. Why? The dollar will fall, gold & oil will rise, stagflation will increase.
Putting the Bank of Canada on the wrong end of the equation, or do those Canucks already know something we don't?
Cost Plus reported a wider loss of $13.9 million for Q3, same store sales, fell by 4.3%, a year ago they fell by 1.3%.
Dow Chemical said it would shut down a number of plants and eliminate about 1,000 jobs to cut costs and direct capital toward businesses with better growth prospects.
Currency gain curbs inflation... BO Canada cut 25 bps to 4.25%... Over the last year gains in the Loonie have it on par with the dollar.
"The Bank now expects inflation over the next several months to be lower than was projected in the MPR.
There continue to be upside risks to the Bank's inflation projection. The downside risks to the Bank's inflation projection have increased.
All these factors considered, the Bank judges that there has been a shift to the downside in the balance of risks around its October projection for inflation through 2009."
Alrighty then, despite runaway stagflation, and an impending Fed cut, the BOC lowered. The BOE & ECB... The Euro & Yen account for 70% of the dollar index.
German inflation +3.3% in October, the EU +2.7%, prior to the German data. Sept YOY EU money supply grew by 11.3%, Oct YOY +12.3% the highest growth since July 1979.
With runaway stagflation and Euro currency gains, what will these central banks do on Thursday?
The ECB is at 4%, should the Fed cut to 4.25%... thats another 25 bps hair cut (already 75 bps) on the Yen Dollar carry trade.
Equities may rally temporarily, then fall as dollar assets are liquidated. Why? The dollar will fall, gold & oil will rise, stagflation will increase.
Putting the Bank of Canada on the wrong end of the equation, or do those Canucks already know something we don't?
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