What happened this past week

Positives:

  1. ECB shouts from the rooftops saying that they’ll save the Euro
  2. China’s latest manufacturing index rises to 49.5 a 6 month high
  3. Thailand maintains it key policy rates at 3%

Negatives:

  1. German IFO business confidence falls to lowest since Mar ’10
  2. UK GDP in Q2 falls .7% q/o/q, down for 3rd straight quarter
  3. Euro zone mfr’g and services composite index holds at 46.4 but below 50 for 6th straight month.
  4. French business confidence drops to lowest since Feb ’10
  5. Italian business confidence near 3 yr lows.
  6. In addition to Valencia, 6 other Spanish regions asking for help.
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