Archive | February, 2010
Pound’s Fate Tied to EU Debt Crisis
Since the emergence of the debt crisis in Greece, UK policymakers have been once again patting themselves on the back for not joining the Euro. Otherwise, they would currently be in the same awkward position as France and Germany, whose economic might underpins the entire Eurozone and are wondering about if and how they should [...]
Continue reading...CAD/USD Parity: Reality or Illusion?
28 February 2010 – 4:39 pm PST
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In January, the Canadian Dollar (aka Loonie) registered its worst monthly performance since June. Many analysts pointed to this as proof that its run was over, after coming tantalizingly close to parity. Others insisted that the decline was only a temporary correction, a mere squaring of positions before the Loonie’s next big run. Who’s right? [...]
Continue reading...Could Greece’s Fiscal Problems Really Sink the Euro?
28 February 2010 – 4:39 pm PST
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Currency markets operate in funny ways. Greece’s fiscal problems are hardly a new development. During years of boom and bust alike, it ran unsustainable budget deficits. Why investors have decided to fret now – as opposed to last year or next year, for example – on the distant possibility of default, is somewhat mysterious. After [...]
Continue reading...Chinese Yuan Expectations Revised Downwards
28 February 2010 – 4:39 pm PST
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Last month, I reported on how anticipation is (was) building towards a revaluation of the Chinese Yuan (RMB), confidently stating that “The only questions are when, how and to what extent.” While I’m not ready to recant that prediction just yet, I may have to temper it somewhat. On the one hand, the case for [...]
Continue reading...Bernanke and the Dollar…Part Two
28 February 2010 – 4:39 pm PST
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In December, I posted about Ben Bernanke (Bernanke’s Background and Near-Term US Monetary Policy), specifically about how a basic understanding of Bernanke’s academic background and philosophical approach to monetary policy could be useful for predicting the general direction of interest rates, irrespective of prevailing economic conditions. This post, is somewhere between a follow-up and a [...]
Continue reading...Juris-my-diction Issues in Forex Regulation
28 February 2010 – 4:39 pm PST
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Kudos to anyone who correctly identifies that reference. But seriously, in light of the proposed changes in forex regulation that have generated a heated response on this blog and elsewhere, I want to offer some insight into a tangential issue: jurisdiction. Part of the problem with existing forex regulation is not that it’s insufficiently strict, [...]
Continue reading...Commodity Currencies Remain in the Spotlight
28 February 2010 – 4:39 pm PST
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In 2009, so-called commodity currencies – both individually and as a group – registered record-breaking gains. The Brazilian Real and the South African Rand finished up more than 30%, while the Australian and New Zealand Dollars finished up about 25% each, and the Canadian Dollar not far behind. While the outlook for 2010 is slightly [...]
Continue reading...Q4 earnings in perspective
23 February 2010 – 8:59 pm PST
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With most of the S&P 500 companies having reported financial results for Q4 2009, the chart below, courtesy of The Chart Store (via The Big Picture), shows how S&P 500 earnings declined by 92% from their Q3 2007 peak to the low of Q1 last year, and then subsequently rebounded by more than 600%. However, [...]
Continue reading...PDUFA Date Set For Tomorrow February 23 (NASDAQ:SLXP)
22 February 2010 – 2:28 pm PST
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On August 24, 2009, Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) disclosed that the FDA had found that new drug application (NDA) – that was submitted for the company’s recently developed rifaximin tablets 550 mg – contained all the information that would allow it to make a thorough review – that is, the NDA was accepted for filing.
Continue reading...FDA’s response to ProUroCare Medical Anticipated on February 23 (OTC:PUMD)
22 February 2010 – 2:26 pm PST
On November 23, 2009, ProUroCare Medical Inc. (OTC:PUMD) , (OTC:PUMDU) and (OTC:PUMDW), which discovers, develops and markets novel products for medical imaging, disclosed to its stockholders
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28 February 2010 – 4:39 pm PST
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