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Fresh glimmers of hope for the eurozone

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  • #16
    Re: Fresh glimmers of hope for the eurozone

    try "trade weighted BROAD" http://research.stlouisfed.org/fred2/series/TWEXB
    THIS IS THE INDEX THAT EJ REFERS TO.

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    • #17
      Re: Fresh glimmers of hope for the eurozone

      Originally posted by jk View Post
      try "trade weighted BROAD" http://research.stlouisfed.org/fred2/series/TWEXB
      THIS IS THE INDEX THAT EJ REFERS TO.
      Humm... No.

      This is a recent example:
      http://www.itulip.com/forums/showthr...lar#post233272

      or this one:
      http://www.itulip.com/forums/showthr...lar#post232339

      a quote:
      The Fed will worry that the strengthening dollar may push the CPI below 1% as the dollar approaches 79. The Fed may blink before that and institute QE3 when the dollar reaches 75. In any case, I don't feel comfortable maintaining the Whites of his Eyes trade with the dollar at 75 or higher.
      Please don't tell me you are turning into one of those biblical literalists that are an embarrassment even to the pope. You are too sharp a guy for that.
      Last edited by globaleconomicollaps; 09-03-12, 02:52 PM.

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      • #18
        Re: Fresh glimmers of hope for the eurozone

        In the course of researching this, I decided to look up the weights for the various Dollar Indexes. I discovered something interesting. The Fed is no longer publishing the weights for the major currencies index. Instead, they refer you to the doc from 2005 and tell you to "make your own":

        Weights for the major currencies index and for the OITP (other important trading partners) index can be derived from the weights, shown below, for the broad index of the foreign exchange value of the dollar. The method used to construct the weights is described in an article (73 KB PDF) in the Winter 2005 Federal Reserve Bulletin. The broad index and the other exchange rate indexes calculated by staff of the Federal Reserve Board are presented on the page of summary measures of the foreign exchange value of the dollar.
        Why would they leave out such an important fact? The Fed has literally thousands of charts on every aspect of economics. Why leave this one out? I think it is an embarrassment to them. The major currencies now represent about 40% of all trade and are no longer "Major". I will put together some charts showing the weights in time series.

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        • #19
          Re: Fresh glimmers of hope for the eurozone

          gec, you're right. ej refers to dtwexm, not the broad index. i guess in my mind i always translated this as the broad index, since the so-called "major" index makes so little sense.

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