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Jack laid out several items yesterday pointing to potential for a double-dip into recession land, for the US and abroad.

Sure, there are plenty of people out there that agree with Jack; I’m one of them ... and apparently Marc Faber is too! (Gee, I’m pretty funny sometimes.)

But there are also those who think the recovery is set in stone, done deal – we’re going to make it out of this just fine.

Feb. 11 (Bloomberg) -- U.S. unemployment peaked in October and will retreat through 2011 as the economy strengthens, according to economists surveyed by Bloomberg News.

The world’s largest economy will grow 3 percent this year and next, more than anticipated a month ago, according to the median

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EUR/USD

The Euro remained prone to volatile trading on Wednesday as market sentiment fluctuated sharply. There was selling pressure above the 1.38 level in European trading and the currency then dipped sharply to lows below 1.37 in New York.

There were renewed doubts whether a credible budget-support package for Greece could be put together and underlying stresses continued to undermine confidence in the Euro. There were also fears that any relief measures for Greece would undermine the medium-term commitment to budget stability and weaken underlying Euro support. Thursday’s EU meeting to discuss the situation will inevitably be watched very closely and failure to agree a package would tend to put the Euro under ...

Hi everyone, today I concentrate my analysis on the Pound, although the technical’s are clear, building an exact trade plan is easier said than done at the current levels we find ourselves. I hope you enjoy the analysis and good luck today!! David Pegler

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Biggest % gainers: up 1.56%, AUD/USD up 1.04%, AUD/JPY, AUD/NZD up on strong Aussie strength on much better than expected employment numbers.

Biggest % losers: EUR/AUD down 1.50%, EUR/CAD, EUR/JPY on mild EUR weakness, strong Aussie...

Oil $74.64
Gold $1,076

AUD Employment Change better at 52.7k vs. 15.1k expected. Last time revised better to 37.5k vs. 35.2 previously.

AUD Unemployment Rate better ...down to 5.3% vs. 5.6% expected.

Iran's big "punch" to the West was just a large gathering as their leaders declared that Iran is now a "Nuclear State".

Fed is in talks with money market funds to help their "sop up" ...