July 2010 - Daily Pfennig

A free, quick-reading daily e-letter on world currencies, economic trends, and the occasional baseball score.

Daily Pfennig

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  • Employment Disappoints...

    In This Issue..

    * Fundamentals creep back into markets...
    * Dollar gets sold...
    * RBA keeps rates unchanged...
    * U.K. makes right moves...

    Good day... And a Terrific Tuesday to you! Did you have a grand Independence Day Holiday Weekend? I sure did! I got to see two ballgames, one very bad, one good. Spend time with the kids, friends, and relax a little... WOW! Now that I think of it, the weekend was more grand than I first thought!

    The currencies traded yesterday, but in very tight ranges, as the U.S. was on holiday. This morning, the bias is to sell dollars, much like it was on Friday before the liquidity of Europe went to the pubs... Let's go back now, and revisit Friday's action...

    Well... More proof that the double dip is coming on Friday......