This was "rendered more challenging by the fragile confidence of international capital markets, " it said.
If her fragile confidence has taken a battering in Shanghai, names like Venus, Capriati, Hingis and Mauresmo could do further damage.
Meanwhile Blackburn, perhaps sensing their hosts' fragile confidence, settled into the game.
If these cuts do not happen, fragile confidence may leak away again.
The firm blamed "fragile consumer confidence" in the run up to Christmas for the fall in UK sales.
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High prices for the precious metal, price volatility, a fragile labor market, depressed real estate prices and volatile stock market all contributed to hesitant consumer demand and fragile consumer confidence, WGC said.
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With inflation already likely to have peaked and with the ECB predicting a return to beneath the 2% target ceiling the policy adjustment process is becoming less of a factor, while one good shock is all it might take to unsaddle already fragile European confidence that could derail the euro once more.
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Supermarket chain Morrisons, one of the UK's big four grocers, has reported another quarterly drop in sales, citing "fragile" consumer confidence.
When capital was scarce and confidence fragile, such over-caution made some sense.
The eurozone debt crisis continues to remain a threat to overall global growth, while the recovery in the US economy has been fragile and consumer confidence there remains low.
Nonetheless, bearish sentiment is above its historical average for the sixth consecutive week and confidence remains fragile.
Investor confidence remained fragile after the downgrades and in light of Greece's rocky negotiations with international creditors to restructure its debt and stave off default.
Job growth has slowed steadily since March, reminding investors, and job seekers, that recoveries typically evolve in fits and starts and that business and consumer confidence remain fragile as a result of that weak labor market.
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Buyer confidence was "fragile", he added, even though mortgage rates had become cheaper as a result of the Funding for Lending scheme (FLS).
As long as prices remains uncertain, confidence will remain fragile.
But golf being golf, and confidence being such a fragile vessel, it's far too early to assume that Tiger is truly back.
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The economic situation is definitely fragile, as the decline in consumer confidence suggests.
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Confidence is likely to remain fragile until investors have a sense that a bottom has been established for stock prices.
At a time when confidence in the global recovery is fragile, the world economy is particularly vulnerable.
"Consumer confidence across some of our markets is fragile and we expect it to continue to be so through much of 2011, " said Dixons' chief executive John Browett.
Mr Draghi said that business confidence was returning, but the situation "remains fragile".
But even if they were to do that, it leaves unresolved the great British debate - about whether the UK's indebtedness is so great, and the confidence of investors in our credit-worthiness so fragile, that the chancellor dare not cut taxes or increase job-creating infrastructure investment.
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