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Realistbear

Double Dip Cancelled Again-- U S Data Stunning

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http://uk.finance.yahoo.com/news/us-services-grow-more-than-expected-in-september-afp-65edaa717869.html?x=0

16:36, Tuesday 5 October 2010
Growth in the massive US services sector rose more than expected in September, a key index showed Tuesday.
The Institute of Supply Management said its non-manufacturing index rose to 53.2 percent, the
ninth consecutive month of growth
.
An index reading above 50.0 percent indicates expansion in the key sector, which accounts for the bulk of overall US economic output.

More "unexpected" news. Bit different this time because it is "good" news. Bad for the $ though as it is a strong sell signal to the traders.

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Steven C. Johnson and Andy Bruce, 17:33, Tuesday 5 October 2010
NEW YORK/LONDON (
Reuters
) - The pace of growth accelerated in the dominant U.S. services sector last month but slowed among Chinese and European firms, with the sectors in Ireland and Spain tipping back into contraction.
The data from around the world painted a mixed picture overall, but showed the U.S. economy steering clear of another recession. Service sector activity in Asia's emerging powerhouses continued to outstrip that in Europe. And while hiring among U.S. service firms increased slightly, it remained modest.

Euro headed up today on this. Computer trading must be running the show now much as it is on the SMs. Fundamentals no longer count--its the Algorhythms that run things today.

Edited by Realistbear

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Steven C. Johnson and Andy Bruce, 17:33, Tuesday 5 October 2010
NEW YORK/LONDON (
Reuters
) - The pace of growth accelerated in the dominant U.S. services sector last month but slowed among Chinese and European firms, with the sectors in Ireland and Spain tipping back into contraction.
The data from around the world painted a mixed picture overall, but showed the U.S. economy steering clear of another recession. Service sector activity in Asia's emerging powerhouses continued to outstrip that in Europe. And while hiring among U.S. service firms increased slightly, it remained modest.

Euro headed up today on this. Computer trading must be running the show now much as it is on the SMs. Fundamentals no longer count--its the Algorhythms that run things today.

So that's why they haven't had time to update their website!

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Steven C. Johnson and Andy Bruce, 17:33, Tuesday 5 October 2010
NEW YORK/LONDON (
Reuters
) - The pace of growth accelerated in the dominant U.S. services sector last month but slowed among Chinese and European firms, with the sectors in Ireland and Spain tipping back into contraction.
The data from around the world painted a mixed picture overall, but showed the U.S. economy steering clear of another recession. Service sector activity in Asia's emerging powerhouses continued to outstrip that in Europe. And while hiring among U.S. service firms increased slightly, it remained modest.

Euro headed up today on this. Computer trading must be running the show now much as it is on the SMs. Fundamentals no longer count--its the Algorhythms that run things today.

Euro heading up because China bought tharg euros this morning before 8am ... causing other reserve managers to recycle their dollars the same way... causing momentum based algo funds to buy some more ... causing euro to go up 200 pips.

Simples

The US data was hardly stunning but it's bizarre that the Fed thinks it needs more QE given the data really ain't that bad. Of course the Fed is obsessed with "full employment" despite fact globalization ensures structural unemployment going to be 20%+ in 10-20 yrs time in most of the Western world. The US Treasury of course is delighted since more QE means a weaker currency.

China is running the FX market, the US is getting the weaker dollar it wants and Merkel and Sarkozy are too stupid to understand who is the patsy!

Doesn't Europe understand the only game in town is competitive devaluation ... clearly not.

Edited by david m

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Wall Street banks are in the service sector, so if they plunder US citizens more this is counted as growth in the service sector. :lol:

This thread is so surreal the mods should delete it. :rolleyes::rolleyes:

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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