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  • Rumors have the ECB announcing limitless stimulus...

    In This Issue.

    * ECB to announce limitless stimulus...

    * Sweden cuts rates...

    * Canada's Carney pushes against the tide...

    * Gold tops $1,700...

    ...
  • On the clock.

    In This Issue.

    * European concerns again

    * Another disappointment for manufacturing

    * US data reports kick into high gear

    * Sweden posts higher growth

    ...
  • Who hit the repeat button.

    In This Issue.

    * Spanish bailout talk heats up

    * Yet another day for the dollar

    * Flight to liquidity and risk aversion

    * Sweden plays leap frog

    ...
  • Euro moves higher after a positive IFO index and a successful Spanish debt auction...

    In This Issue.

    * Euro pushes higher after an upbeat report...

    * Spain's debt auction finds a host of buyers...

    * Sweden cuts .25%...

    * A tax to cap income???

    ...
  • New & Improved!

    In This Issue.

    * The President and Fed Chairman get ignored.

    * A perfect storm is brewing.

    * Gold sees a huge selloff while Chuck types.

    * Better data for Sweden.

    And, Now, Today's Pfennig For Your Thoughts!

    ...
  • US data disappoints . . .

    In This Issue.

    * US data disappoints

    * BOE minutes showed 6-3 split on rates

    * Sweden's move to share the risk of a falling $

    * Japanese economy in 'severe' state

    ...
  • Taking Back Lost Ground.

    In This Issue.

    * Bias to sell dollars remains in play.

    * Norway & Sweden gain.

    * Central Bank meetings today.

    * BOE see inflation pressures.

    ...
  • 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....
  • A Lost Decade?

    In This Issue..

    * An Up and Down day for currencies...
    * Jobs Jamboree moves to Thursday today...
    * China to buy more Gold!
    * Sweden cuts rates!

    Good day... And a Thankful Thursday to you! I'm reminded that we all need to be thankful for the patriots that led this country to victory and thus our freedom. The freedom for me to write a letter like this, each day, that allows me to say what I want to say (well, with the governor of the legal beagles of course!). And since this weekend we will celebrate our Independence, I thought this to be a good time to have a Thankful Thursday!

    Patriots... You know, the ending story for those 56 Patriots that signed the Declaration of Independence is not a happy story... So, when we learn of their collective fates, we realize that freedom does not come free......
  • Currencies Continue to Rally...

    In This Issue..

    * An auction announcement...
    * Euro soars!
    * Gold back to $900...
    * Who's telling the truth?

    Good day... And a Happy Friday to you! A Fantastico Friday to boot! I leave for Bermuda very early tomorrow morning, so no late night shenanigans for me tonight! HA! I'm still trying to make sure I've beaten that pneumonia, and being a "good boy"!

    Well... Front and center this morning, we have a Big currency rally going on... Recall yesterday, I told you of the beginning of the rally... Well, it really got legs as the day went on, and once again, it was not sold off overnight, but added to! Here's what I believe, and you won't see this anywhere else, my friends, is moving these currencies so violently higher VS the dollar......
  • Hold on to your hat...

    * Fed opens the pocket book...
    * Creative measures...
    * Inflation/dollar debasement concern...
    * Currencies soar...

    Good day...And a Tub-Thumpin' Thursday to you. Well, yesterday was certainly one wild Wednesday for the record books. It started out like any other day we've had over the past week or so with the dollar down and many of the currencies up a bit, but nothing really out of the ordinary. Then it happened...the Fed adjourned and hit the markets with a big one.

    Many of the market participants weren't looking for an announcement or plans from the Fed to buy Treasuries today, but instead, were anticipating further discussions on how to proceed. It appears there has been disagreement on how to provide aggressive actions with interest rates already at rock bottom. The way they saw it, there were three options. One was to increase the TALF to buy frozen assets, another way was to expand purchases of mortgage backed securities and agency securities, or to begin buying long term Treasuries....
  • Currencies Rally On Bad U.S. Data...

    * Dollar rally is stopped! * FOMC meeting minutes... * Housing data you won't see on TV! * Sweden to sell Gold... ** Currencies Rally On Bad U.S. Data... Good day... And a Wonderful Wednesday to you! I'm back. I just couldn't answer the bell yesterday morning, as the night before was simply rough on your old Pfennig writer. I'm in my last week of treatment and it has been a tough row to hoe, and I feel bad that I was not able to stiffen the back and make it through the day. But, no biggie, I've got great people here to take care of things when I'm gone... When I finally dragged myself out of bed yesterday, I saw that the dollar was taking liberties with the euro and other currencies once again. It was another game of "your economy is worse than mine", as German Business Confidence took a ride on the slippery slope down. You should have seen the "bandwagon jumpers" falling all over themselves to write about how cool it was to own the dollar. I chuckled, no big laugh as that might upset my stomach! But, their claim to be cool, was quickly squashed like a bug, when the housing numbers printed, and then later in the day, with the latest FOMC meeting minutes... More on this in a minute.......