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Headline

Fed’s Bullard on the Wires

Says:

  • U.S. Economic data ‘better than expected’
  • Fed never takes anything ‘off the table’ on policy
  • The probability of a serious meltdown in Europe has weakened
  • The fed rate will rely strongly on economic performance
  • U.S. still faces risks from Europe crisis
  • $4 dollars for gasoline not slowing consumers down
  • $5 dollars for gasoline would change priority of many drivers
  • Progress shown in Europe on “fiscal pact”
  • U.S. could weather a recession in Europe
  • Does not want to ‘reinflate’ U.S. housing bubble

 

 

US ADP Payrolls Rise to 157K

ADP Employment Change:  Survey: 70K   Actual: 157K Prior: 38K

June vs May 2011
ADP Employment:  108,677 vs 108,520
Level Change:  157 vs 36

USD/JPY Trading higher on the news.

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