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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  • Retail Sales Disappoint! – 7/15/10

    In This Issue..

    * China's GDP moderates...
    * Spain has successful bond auction...
    * Fed's FOMC minutes disappoint...
    * euro returns to 1.28!

    Good day... And a Tub Thumpin' Thursday to you! It's July the 15th, so the month is already half-over... Unbelievable! Day 80-something with the Oil leak... I know the Russian scientists' claims about the Gulf sea bed being damaged are pretty scary and unfounded at this point, but, when the plans to put a cap on the well get delayed, you have to wonder a bit, eh?

    OK... No need to spend a day on that! Hey! The currencies are in rally mode again this morning, after a strong, but not a as strong GDP report from China last night. Chinese 2nd QTR GDP printed at 10.3%, which is quite a drop from the 11.9% they printed in the 1st QTR of this year... But, I've got two things to say about this......
  • Canada boosts rates….

    In This Issue..

    * Canada boosts rates...
    * BOE called out for quantitative easing...
    * Indian Rupee to shine...
    * China loosens grip on Hong Kong deposits...

    Good day. We had some pretty unsett