Will The Canadian Dollar Maintain A Premium To The U.S. Dollar?
If we can believe the stream of U.S. economic data, always the subject for debate in an election year, then the U.S. economic recovery is on track. We had a quarterly GDP report, better than expected at 3.0% annualized, and up tick from the 2.8% estimated. The initial jobless claims, reported yesterday, at 351,000 was another positive weekly number. Construction spending was down a bit and the ISM Manufacturing Index did drop to 52.4, but for the most part the data is better. Perhaps this is what Bernanke called mixed signals in his testimony.
Contrast this with the jump in European unemployment, expected to drop to 10.4% but actually going up to 10.7%. This, no doubt, the price being paid for the troika austerity plan in an ever increasing part of Europe.
The European numbers have caused the ECB to take some action and try to reverse the malaise. New ECB President Draghi reversed the foolish rate hikes by his predecessor. Then, in a three month period, introduced LTRO and injected $1,350T liquidity into the economy. By comparison this exceeds the amount of Bernanke's first QE stimulant.
The veteran interior lineman is, like several of his teammates, recuperating this spring from offseason knee surgery. Limited in the physical work that he could do during the fourth quarter drills, McCloud was seen walking around cheering his teammates
By Carl Schonbeck 2 March 2012 Legend has it that during the recording of Elvis Costello's debut album My Aim is True his backing band (which following a 
