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  • Fundamentals Return!

    In This Issue.

    * Currencies attempt to recover.

    * 10-year Treasury recovers.

    * Canada's jobs data is strong!

    * $136 Billion more stimulus for Japan.

    ...
  • A Tag Team Match VS The Dollar.

    In This Issue.

    * Bernanke discusses more stimulus.

    * Moodys warns of a downgrade for U.S. debt.

    * Gold closes in on $1,600!

    * Swiss francs soar!

    ...
  • Frustratingly Slow.

    In This Issue.

    * Big Ben says stimulus is warranted.

    * Greek debt pressures return.

    * $13 drop in minutes for Gold?

    * German Industrial Production Slows.

    ...
  • Fed splits on need for stimulus...

    In This Issue.

    * Fed split on need for stimulus...

    * Treasury bubble in trouble???

    * The carry trade is back...

    * Oil helps boost the CAD$...

    ...
  • Australia and India raise rates...

    In this issue:

    * Australia and India raise rates...

    * Roubini warns of another asset bubble...

    * The only question is the size of the stimulus...

    * Hong Kong to drop the Renminbi peg???

    ...
  • Jobs Jamboree Friday

    In This Issue..

    * Range trading currencies...

    * ECB leaves stimulus in place...

    * If Chuck were king for a day...

    * Happy Labor Day!

    ...
  • Jobs Jamboree Disappoints... AGAIN!

    In This Issue..

    * Currencies rally on Friday...

    * But show some slippage this morning...

    * FOMC week, will they announce more stimulus?

    * Norwegian krone is best monthly performer!

    And Now... Today's Pfennig!

    Good day... And a Marvelous Monday to you! Well... I'm Baaaaaacccckkkkk! What a great vacation! Any time I get to spend time with my family, is special... And to do when you're camping... Well, if you've ever done that with your family, you know what I'm talking about... And talk about being "away from the markets"...

    So... Yesterday, I got all caught up with what Chris had to say last week, and let me stop here to say a BIG Thank You to Chris, for taking the conn on the Pfennig last week... A great job as usual! Chris did leave me a few notes on the Friday happenings and that helped me get the "motor" started to write this morning!

    ...
  • A Week Dominated By Data...

    In This Issue..

    * Both sides of the ship...
    * Currencies remain well bid...
    * ECB and Riksbank meet this week...
    * Baiting the hook for more stimulus?

    Good day... And a Marvelous Monday to you! The Heat Wave finally broke Saturday night, and we had just one of the most beautiful days yesterday that I have ever seen! Which was good, because we had a backyard full of first kids, and then family to celebrate Alex's 14th birthday!

    Well... We have a week ahead of us that will be dominated by the U.S. data cupboard. And this week, we'll get the June Jobs Jamboree (JJJ) on Thursday instead of Friday. Saturday is the 4th of July, and I guess the Bureau of Labor Statistics (BLS) isn't working on Friday! HA! No, they do this every now and then when the markets will be quite thin on a Friday before a Holiday weekend. And this week qualifies BIG TIME! It will be the 4th of July! And maybe, just maybe because you never know, someone in Washington D.C. will realize that the it's supposed to be about WE THE PEOPLE, not we the politicians......
  • It's Not My Fault, It Must Be Yours!

    * What's $78 Billion among friends? * Currencies fade with bias to buy Gold... * Could the Carry Trade Unwind be done? * U.S. soccer beats Mexico... ** It's Not My Fault, It Must Be Yours! Good day... And a Thunderin' Thursday to you! Well... Front and center this morning, I'm going to tell you something that will surprise a few and make a few happy. I've had my say on the Bailouts, TARP, Stimulus, and spending. I've beaten them to a pulp, and some readers have expressed their contempt with me carrying on with this beating. So... Unless something cracks, I'll just leave it all as it stands, and go on with life. This all has been too much for my blood pressure to take! I'll report the facts on this stuff, and leave the commentary for people that think they "know better"... For instance, it was reported the other day that the Treasury Dept. has overpaid for stock received from TARP recipients by $78 Billion. You see, for every $100 given in TARP, the Treasury was to receive $100 in stock / assets, but when all the beans are counted, the Treasury is $78 Billion short on stock /assets... But, what the heck, what's $78 Billion among friends?...
  • Geithner's Plan Disappoints...

    * Trade Deficit to narrow further... * Currencies rally, then sell off... * Obama's stimulus loses backers... * Riksbank cuts 100 BPS unexpectedly... ** Geithner's Plan Disappoints... Good day... And a Wonderful Wednesday to you! Well... Tim Geithner didn't experience a Terrific Tuesday, as I had wished for him... And now, it looks as though the shine is coming off the new President as more and more individuals are "not buying" his appeal to the nation to get a stimulus package passed... The currencies rallied and then sold off after Geithner gave the details of his "new and improved" plan... We've got some potential market moving data printing today and more! So... Let's go to the tape!...
  • Jobs Jamboree / Horror Show!

    * 598K jobs lost in January... * Currencies rally with stocks... * G-7 this weekend... * More thoughts on Gold... ** Jobs Jamboree / Horror Show! Good day... And a Marvelous Monday to you! Well, Chris and I returned Saturday night and it was warmer in St. Louis than it was in Orlando Florida! Un-Be-Live-able! I know that it stayed warm there however, as opposed to here! The Money Show was good, not the best one or even close to the best one I've attended, but as I told Chris, I believe it was simply "a sign of the times"... Bad economic times that is! OK... Let's get this ball rolling, eh? The currencies had a nice rally on Friday, as the Jobs Jamboree turned out to be a horror show... But I don't think it was the Jobs Jamboree horror show that pushed the euro and other currencies higher. I think it was the stock market rally. Recall, last week, when I told you that the stocks and currencies had been trading side by side, which wasn't something we normally see, as they have different pricing mechanisms, and a low correlation to each other. But they were trading in tandem, and that carried through on Friday......
  • Talking Stimulus...

    * A very tight range for currencies... * RBA cuts rates to historic low! * Spending that doesn't create jobs... * Gold see profit taking... ** Talking Stimulus... Good day... And a Terrific Tuesday to you! On the road again, I just can't wait to get on the road again... Yes, all my bags are packed and I'm ready to go! Won't be back until late Saturday night, and back in the saddle next Monday. And I'm leaving just in time, as yet another cold front has moved into St. Louis! UGH! Well... Let's see... What to talk about today? I could talk about the Aussie rate cut and stimulus package... I could talk about the "new and improved" stimulus package and all the "non-stimulus spending attached to it... I could talk about how it sure seems as though the euro, and then the other currencies, are taking their cues to rally from equities... Now, this is certainly a short term phenomenon because we all know that currencies have different pricing mechanisms than stocks, and a very low correlation to stocks, which is why they make excellent diversification assets, along with Gold and Silver....
  • Another FOMC Day....

    * Currencies rally... * Davos begins... * A new and improved stimulus plan! * Happy Birthday, Chris! ** FOMC Day.... Good day... And a Wonderful Wednesday to you! A very cold and snowy Wednesday here in St. Louis. I got caught behind the line of snow plows this morning, and it too me what seemed like for-ev-er to get here! Oh well, I'm here, so let's get going, eh? Well... The currencies saw some profit taking yesterday, only rebound overnight, which seems to be the recent pattern... The overnight markets participants drive the euro and other currencies higher, and the U.S. market participants sell the euro and other currencies... Makes you want to side with the overnight markets participants, eh? Oh well, the euro is trading with a 1.3255 look to it this morning, as I turn on the screens......
  • Maybe It's Time For A Change?

    * Currencies continue to rally... * More Stimulus... * Data shows more rot on the vine... * A Thanksgiving thought... **Maybe It's Time For A Change? Good day... And a Wonderful Wednesday to you! The day before Thanksgiving... Tonight is, historically, the biggest "going out" night for the younger crowd, as they all return home from college, etc. Not for yours truly though... A little reminder that Friday I will not be writing... Friday night, a large group of friends and family are starting the holiday season off with a gathering at the Butler House, before all heading to see the Trans Siberian Orchestra's Holiday Concert... I'm getting pumped up for that! OK... Another rally day in the currencies yesterday... One that wasn't as pronounced as Monday's 3-cent rally... But a rally just the same, and at one point, the euro was trading above 1.30... Hadn't seen that level in a while, so welcome back to the 1.30 level, Mr. euro... ...