Wall Street shrugged off the nation's worst economic output reading since the third quarter of 2001, despite the fact that it could indicate the economy is in recession. (Oct. 30)
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That Great Gretsch Sound was heard echoing in the skies on Oct 25 & 26 in Sonoma County, California. The GDP Norcal ROUNDUP took place at the home studio of Parabar in a beautiful rustic setting located in the city of Penngrove which sits peacefully about 56 miles north of San Francisco.
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RBI has retained the GDP growth forecast at 8.5 per cent during 2007-08, assuming no further escalation in international crude prices and barring domestic or external shocks.
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Forex TV - The USD recovered from session lows vs. EUR, GBP, JPY. The weaker-than-expected Q2 U.S. GDP data and soaring jobless claims, weighed on the USD. The market awaits the release of July nonfarm payrolls on Friday. ABN Amro's Reid with his Fx forecast.
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