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Daily forex forecast - 31/5/2010

The Australian Dollar opens sharply higher today at 0.8510. Despite a surprise drop in new capital spending, which fell 0.2 per cent in the first quarter, the Aussie rallied from an intraday low of 0.8220.
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Morgan Stanley's Mack gets a 150 percent raise

Morgan Stanley Chairman John Mack, who has said Wall Street's high pay packages show that the industry is out of touch with mainstream America, is receiving a 150 percent base salary increase to $2 million.
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Asian Gas Market Starting to Heat Up

Asia is one of the more interesting gas markets in the world. Places like Thailand and its southeast Asian neighbors have seen phenomenal demand growth over the last several years. Total has said they're in Thailand for gas. (Part of the reason I believe Thai shale gas may become an interesting play over the coming years.)
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U.S., Canada, Germany and Japan Back to Pre-2003 Industrial Production Levels

An interesting chart from the Bank of Japan's latest monthly economic report. Japanese capacity utilization is way down. Around 20% of manufacturing facilities are standing idle. This is an improvement from the beginning of 2009, when 35% of capacity was shut down. But a marked decrease from pre-financial-crisis levels, when there was almost no excess capacity to be found.
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Apple's iPad goes global

Fans mobbed Apple Inc stores in Europe and Asia as the iPad went on sale outside the United States on Friday, with some shoppers having queued all night to buy one of the coveted tablet computers.
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Ford sees options to return to investment grade

Ford Motor Co sees great options to improve its balance sheet and return to investment grade credit rating as its financial results continue to strengthen, Chief Executive Alan Mulally said on Friday.
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Jobless aid set to expire despite House approval

The House of Representatives on Friday passed a scaled-back economic-stimulus package of tax breaks and safety net spending that would raise taxes on fund managers and multinational corporations.
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Wall Street slides on Spain downgrade

Stocks fell on Friday, capping off their worst month in over a year as a downgrade by Fitch of Spain's credit rating reignited worries about euro-zone debt issues.
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Markets tumble after Fitch cuts Spain's ratings

Fitch Ratings cut Spain's credit ratings to AA+ from AAA on Friday, saying its economic recovery would be more muted than the government forecast, pushing world equities and the euro lower.
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HSBC exec pay under fire, fears more global shocks

HSBC's executive pay policy got a grudging green light on Friday, along with a stinging rebuke from one of its top investors, as Europe's biggest bank said it was bracing for further economic shocks.
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Judge gives Toyota 30 days to produce documents

A U.S. federal judge on Friday gave Toyota 30 days to turn over the bulk of documents sought by class-action lawyers from previous investigations of complaints about its cars racing out of control.
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Wal-Mart holders seek answers on keeping customers

As Wal-Mart Stores Inc employees chant the corporate cheer at the company's annual meeting this year, Wall Street is less enthusiastic about the retailer's U.S. sales trailing a fitful economic recovery.
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CKX shares jump on news of possible $600 million bid

Shares of CKX Inc jumped by a third of their value Friday, a day after The Wall Street Journal reported American Idol creator Simon Fuller and former Barclays Capital top dealmaker Roger Jenkins are planning a $600 million bid for the company.
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Apple iPad frenzy spreads abroad

Diehard fans mobbed Apple Inc stores in Europe and Asia as the iPad went on sale outside the United States on Friday, with some shoppers having queued all night to buy one of the coveted tablet computers.
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Consumer sentiment, inflation expectations rise

Consumer sentiment rose a bit in May from April but stayed roughly unchanged from levels reported since February, while the one-year inflation expectations climbed to the highest since October 2008, a survey showed on Friday.
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Sentiment, inflation expectations rise in May

Consumer sentiment rose a bit in May from April but was roughly unchanged from levels since February, while the one-year inflation expectations also climbed, a survey showed on Friday.
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Consumer spending flat in April

Consumer spending was unexpectedly flat in April after six straight months of gains, but growing consumer confidence in the economic outlook suggested consumption will remain strong this quarter.

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