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Text: Hse Approp Comte Unveils Details Of 2-Wk Continuing Res

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WASHINGTON (MNI) - The following is the text of a statement by the House Appropriations Committee Chairman Friday with details of a proposed two-week continuing resolution that will continue government operations and cut $40 billion in spending: WASHINGTON, D.C. ...

Yellen,Bean,Constancio Say Watching Infl,Oil Prices Closely

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By Vicki Schmelzer NEW YORK (MNI) - Federal Reserve Vice Chair Janet Yellen, Bank of England Gov. Charles Bean and ECB Vice President Vitor Constancio said Friday they are closely watching inflation, and the impact of rising oil prices on inflation expectations and the global economy. ...

ForexLive US wrap: Euro pares gains as modicum of stability returns

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Anticipation that Saudi Arabia will fill any temporary void created by disruption in Libyan supply helped calm oil markets Friday Q4 US GDP revised to +2.8% from +3.2%; lower state and local gov't spending, fall in inventories blamed University of Michigan consumer sentiment rises to 77.5 in February from 75.1 Canadian nine-month budget ...

EUR/CHF going out on its lows despite buy recommendations

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A couple of big shops issued sell CHF recommendations earlier in the day but judging by the soggy close for the week in both USD/CHF and EUR/CHF, those calls look a bit premature. USD/CHF probed above resistance at 0.9300/10, pushing as high as 0.9320 on stops but has spent the bulk ...

ECB’s Constancio: There Is A Need To Absorb Excess Liquidity

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By Vicki Schmelzer NEW YORK (MNI) - European Central Bank Vice President Vitor Constancio Friday discussed the ECB's experience with unconventional monetary policy measures in a speech presented as part of the University of Chicago's Booth School of Business's U.S. Monetary Policy Forum. ...

Ok, back soon

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Back in 45 minutes.

Fed’s Yellen: QE,Fed Guidance Effective in Pol Accommodation

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--Fed Study Shows Conditions Would Have Been Even Worse Without QE --Once Recovery Well Established FOMC Will Adjust 'Extended Period' By Heather Scott WASHINGTON ...

Oil shooting higher late in pit trade

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WTI futures have lurched up by $1.15 in the last few minutes, perhaps on a squeeze of short day traders. Takes a big pair to head into a weekend short of crude in this environment... We're now at $98.40.

ECB’s Constancio: To go back to normal policy, would have to absorb liquidity

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Central banks should stick to money markets in normal times (leave bond markets alone) Should use unconventional measures in times of both boon and bust.

BOE’s Bean: QE has been effective in boosting nominal GDP

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Nominal demand growth satisfactory but split between inflation and real GDP is not UK CPI rise reflects short-term impact from weaker GBP, rise in VAT, commodities

Fed’s Yellen: Fed’s fwd guidance, asset buying has eased financial conditions

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Once recovery is established the Fed must adjust it 'extended period' guidance and develop an alternative communications strategy If markets expect policy firming too soon, guidance could be adjusted to shift expectations Yellen says remarks are not an outlook on the economy So, according to Vice Chair Yellen, the Fed will give us ...

BOE’s Bean Cautions Against Use Of QE In Normal Times

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--Says Return Of Nominal Demand To Trend Shows QE Effectiveness --Reiterates High CPI Mainly Attributable Transitory Factors --Warns QE May Be Less Effective In Normal Times --QE In Normal Times Might Harm Credibility, Inf Expectations --BOE Prefers Markets To Make Own Rate Judgements Based On BOE Comms LONDON (MNI) - ...

Isn’t cable fun?

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It gets you all bulled up on rate hike hopes...then losses ground when the rate hike hopes prove premature...then it craps out after crappy GDP data... But wait, there's more! The Asian central banks come in and say I'll have me some of that, thank you very much!" and hoover up ...

Libyan UN envoy: Oil industry won’t be harmed but exports will stop

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Oil expots will soon be stopped for security reasons. The industry is under good control and will not be harmed, the envoy (who I think switched sides) says. He appeals to other African countries to stop sending mercenaries to Libya to fight for Gaddafi... Gaddafi will fight to the finish, won't ...

US Rep Cantor: Govt Shutdown Not Acceptable,Responsible Option

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--House Majority Leader Confirms 2-Week Continuing Resolution Proposal --Continuing Resolution to Include $4 Bln in Spending Cuts --House GOP Leadership Accuse Senate Democrats of Wanting Shutdown By Brai Odion-Esene WASHINGTON (MNI) - A shutdown of the federal government "is not an acceptable or responsible option for Republicans," House Majority ...

AUD, copper moving hand-in-hand again; Trendline resistance tested

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Copper bounced sharply from support at 421.00 yesterday and we've since ripped higher to 443.70 today. AUD has followed right along, rebound from the base of its symmetrical triangle to the top of the triange at the moment. A break of 1.0165 on a sustained basis would be very bullish technically.

I have a quick doctor’s appointment this afternoon

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Which reminds me of one of my pet peeves: Pharmaceutical names that don't match up with the intent of the medication... For instance: Shouldn't Boniva be an erectile dysfunction remedy? Shouldn't Celebrex be an antidepressant? Who comes up with this stuff... I'll be gone for 45 minutes or so starting at 2:15 NY time...

IAEA: Concerned about possible Iranian nuclear missile development

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Just what we need. New nuclear concerns in Iran adding to the volatile Mid-East mix...

He’s back!

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Gaddafi appears on Libyan State TV...Proof of life! Be prepared to protect Libya Be prepared to protect oil Oil is back in the black since his appearance began...Guess he is not prepared to go quietly...

Somali pirates do not read ForexLive

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In fact, no one in Somalia reads ForexLive. We've had readers from 188 countries this month. There are a few African countries as well Greenland not represented. We have our work cut out for us...

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