Browse by Tags

Daily Pfennig

Blog Subscription Form

  • Email Notifications
    Go

Archives

  • 2nd QTR GDP Today...

    In This Issue..

    * A flat trading day in currencies...

    * 473,000 newly unemployed last week...

    * Kan ready to take "bold action"...

    * Ludwig von Mises on a Friday!

    ...
  • Shifting Focus...

    In This Issue..

    * The dollar rallies again...

    * German economic data is strong!

    * Canadian Retail Sales this morning...

    * Chuck's thoughts on the shift...

    ...
  • Catching A Cold...

    In This Issue..

    * Eurozone deficits again...

    * Eurozone Manufacturing dips...

    * Aussie election is up in the air...

    * Bailing on a C$ rate hike?

    ...
  • 13% increase in mortgage applications, but no help for housing.. .

    In This Issue..

    * Double digit increase in mortgage apps, but no impact on housing...

    * Euro is in a rut...

    * Pound surges higher...

    * Japan complains about weaker currencies...

    ...
  • Eurozone Confidence Rises...

    In This Issue..

    * Currencies rally
    * German unemployment drops...
    * RBNZ hikes rates 25 BPS...
    * CBO & the inconvenient debt...

    Good day... And a Tub Thumpin' Thursday to you! They figured it out! Finally! And in time I might add, given we hook our camper up to my vehicle on Sunday! In the end... The guy at the auto shop said, 'if we would have only listened to what you were telling us'... I said, 'yes, eventually, everyone realizes that!' HAHAHAHAHAHAHA!

    OK... Front and Center this morning, I have to tell you that we've had a HUGE currency rally overnight, and the rally still has legs through the European session, for, I've seen the euro inch higher as I booted up my computer! What's got the currencies, led by the Big Dog, euro, so wound up this morning? Ahhh grasshopper... Come, sit, and let me tell you the story of an ancient warrior, no wait, let me tell you about the rally!...
  • Big Ben Talks Rate Hikes...

    In This Issue..

    * Currencies trade in a very tight range...
    * Aussie job creation soars!
    * Oil pushes loonies higher...
    * The Mogambo Guru returns!

    Good day... And a Tub Thumpin' Thursday to you! Well... It's a BIG night at the Butler house... Not really at our house, but more the Fabulous Fox! My little buddy Alex, and the jazz band he plays guitar for, will be performing tonight at the Fabulous Fox, which for those of you not familiar with the Fox, it's a beautiful refurbished theater here in St. Louis... Alex also has a big guitar solo, so this should be good!

    OK... Well, the 'experts' that thought the Trade Deficit was going to narrow in December got their lunch handed to them yesterday, when not only did the Trade Deficit NOT narrow, but widened from $35 Billion to $40 Billion! Now that stinks! And... I'll tell you right now, it will deduct from the 5.7% GDP figure that was printed a couple of weeks ago. Yes, this increase in the Trade Deficit will probably reduce the GDP figure to at least 5%...

    ...
  • Exceptionally Low For An Extended Period...

    In This Issue..

    * Old Trading Theme rises up again...
    * Currencies sell off then rebound overnight...
    * U.S. New Homes Sales Decline...
    * It's somebody's birthday today!

    Good day... And a Tub Thumpin' Thursday to you! Yes, it's me... I thought it best to cancel my San Antonio trip, so Jen can get to Florida to be with her family. This is the second time that I've backed out of speaking engagement with this private group, I sure hope they don't think I'm avoiding them!

    Front and Center this morning... It's Chris Gaffney's Birthday! So... This will be the 'Chris Gaffney Birthday Edition of the Pfennig'! Chris is 10 years younger than me, so yesterday when he said 'I'm an old man now' I about fell out of my chair! He's not even 50! Oh well...

    For Chris' Birthday, I'm going to buy him lunch, and... Talk briefly about the State of the Union Address, only to the extent of how it affected the currencies, and the FOMC statement yesterday, and other things... Just for Chris' Birthday! HA!...
  • It's Not My Fault!

    In This Issue..

    * Currencies mount a mini-rally...
    * Let's blame someone else...
    * Eurozone manufacturing rises...
    * Brazil tries something new...

    Good day... And a Marvelous first Monday of 2010 to you! It's very cold here, much like most of the country, and there's no forecast that has our temperature even reaching the freezing mark this week... So... It's hunker down, stoke up the fire, and find a good book to read weather!

    The Chill that has settled down on us here in the Midwest, has tried to settle in on the currencies going into the end of the year... But... Here we are, it's 2010, a new year, and new ideas for the currencies... We'll have to wait-n-see what comes out this week and next, for there will be plenty of pundits, analysts, writers, and so on, that come out with their forecasts for 2010... Me? The song remains the same folks... Fundamentally speaking, there's only one direction the dollar should go... But, then, we need to get to fundamentals again, eh?...
  • The Dollar Rebounds Again...

    In This Issue..

    * Economic data deep sixes currency rally...
    * U.S. Treasury back at the auction window!
    * Yen's rose has faded...
    * Chinese renminbi spikes higher!

    Good day... And a Wonderful Wednesday to you! Not trying to sound like a broken record here, but today is the last Wednesday of 2009... The last 'hump day' and so on... The non-dollar currencies got bushwhacked yesterday by the dollar bulls around mid-day, and there's been no recovery since. The Treasury is back at the auction table, with $32 Billion in 7-year Treasuries for you to buy at the fantabulous yield of.... Drum roll please.... 2.60%! All that and more, so buckle yourself in, and make certain to keep your arms and legs inside the Pfennig at all times during the ride!

    ...
  • It’s A Jobs Jamboree Friday for 12/04/2009!

    In This Issue..

    * Commodity Currencies rebound...
    * Gold sees profit taking...
    * Canary in a coal mine...
    * It's Moving Day!

    Good day... And a Happy Friday to one and all! It's Moving Day for us here in the EverBank St. Louis office, as we will pick up our belongings and walk next door, to a larger, space, with some incredible views! We moved into this space 5 years ago, and we've been busting at the seams, with the threads holding on to dear life, for over a year now... So, this move is welcomed. Like I said the other day, in 1999, I sat in an office that we rented from the kind folks at Paylinx, and that was the beginning... From that tiny office to this! WOW!

    ...
  • Will History Repeat Itself?

    In This Issue..

    * Non-dollar currencies rally...
    * A$'s and C$'s to parity?
    * Reaching 40% of expenditures...
    * Gold & Oil on the rise once again...


    Good day... And a Terrific Tuesday to you! A long day on the desk for me yesterday, left me draggin' the line... But I'm rested and refreshed again this morning, so let's get to the Pfennig for today! The Finance Ministers of the Eurozone met yesterday, as I told you, and they've tried to stem the euro's rise... But, they'll need more than words to get the job done! And so, we begin a new day...

    Front and Center this morning, the currencies, which had given back ground overnight to the dollar, are back in rally mode, and are taking liberties with the dollar once more. For most of the night that was not the case, though. The dollar had rallied back and sent the euro, for instance, to the 1.48 handle, after the single unit spent yesterday at 1.49 and change... There seemed to be a move to the dollar, but that didn't last long, and the currencies are once again rallying VS the dollar this morning, and the euro has pushed to 1.4970 as I write......
  • G-7 To Discuss Currencies?

    In This Issue..

    * The ball is in the dollar's court today...
    * Aussie is unable to hold 14-month high...
    * China and Eurozone print stronger PMI's
    * Chock-full-o-data today...

    Good day... Welcome to October! And a Tub Thumpin' Thursday to you! No real reason to get Tub Thumpin', but I thought why not? The non-dollar currencies have given back their gains made yesterday to the dollar, in a game of what seems to be, give and take... A tennis match with the dollar, one day the ball is in the dollar's court, and the next day it's not! Really, kind of giving me a rash, watching this... I want some direction here!

    So... When I turned on all my screens this morning, and then waited about 20 minutes for the new programs to be installed on them that the IT people left for the next time the computer started up... Hmmm, where was I? Oh! I was talking about when I first saw the currencies this morning... I saw that the euro had fallen back to 1.4560... And of course wanted to find out why...

    ...
  • A Currency Rally Takes Shape...

    In This Issue..

    * Currencies rally overnight...
    * A$'s rally for 7th consecutive month!
    * Will the ECB be vindicated?
    * Sweden tries negative deposit rates...

    Good day... And a happy Friday to one and all! So, yesterday didn't turn out the way I thought it would go, but that's OK... I think my body is trying to tell me something, as I overslept again this morning! I'm heading out the door this morning to go 'fishing'... Should be a ton of fun, with neighbor friends this weekend...

    Well, front and center this morning, we are smack dab in the middle of a currency rally VS the dollar. It has all the makings of such, as the Japanese yen is getting sold, along with the green/peachback. The improved economic data this week, finally caught up with the dollar, as risk assets are back on the table....
  • GDP Does Not Compute, Will Robinson!

    In This Issue..

    * Currencies trade in a tight range
    * Pound Sterling, the star performer?
    * Something smells fishy...
    * Do you see trend with Gov. Reports?

    Good day... And a Wonderful Wednesday to you! We had a very tight range trading day yesterday in the currencies, which have left them trading in about the same clothes they were wearing when I signed off yesterday! We've got that to talk about, and... Another $2 Billion for the CARS program has been allocated... What a crock! OK, Chuck, slow down, you don't need to get your blood boiling this quickly, this morning!

    I'm writing from home this morning, as I have a meeting close to our old office, which means its not far from where I live, which is completely different from our current office location, which is, I'll say... Quite a distance... But, hey! I'm not complaining, just giving you the details......
  • Throwing A Cat Among The Pigeons Again!

    In This Issue..

    * Russia's Fin Min talks up the dollar!
    * Currencies, commodities, stocks all lose ground...
    * Who's car is uglier
    * Gold hit a 3-week low...

    Good day... And a Marvelous Monday to you! How about that weekend? I actually didn't get a chance to experience much of it outside, but it sure looked great! We have new champions in basketball and hockey, so congrats to the Lakers and Penguins on their Championships! Now, the housecleaning is out of the way... It's time to get to the meat... Where's the beef? HA!...