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  • Gold Falls Below $1,200...

    In This Issue..

    * A Risk Off day...
    * Currencies rally on Tuesday...
    * Chinese bank has strong IPO...
    * Kicking the can down the street...

    Good day... And a Wonderful Wednesday to you! It was a Terrific Tuesday for the currencies VS the dollar, it was not a Terrific Tuesday for Gold, and the Cardinals!

    Front and Center this morning, Gold is retreating again today and has fallen well below $1,200... Here's the skinny... Yesterday, it was announced that China's Agricultural Bank of China reported a very successful public offering, raising more than $22 Billion. Now, what does this have to do with a Gold sell off I hear you saying? Ahhh grasshopper... Come, sit, let's discuss...

    Basically, it's like this... If a Chinese Bank can pull off a very successful IPO without breaking a sweat, then the daggers can be put away on a global risks, and that could be seen in the performance of equities all across the board yesterday....
  • Another New Record Level For Gold!

    In This Issue..

    * Risk players come back out to play...
    * Waiting on the Fed's statement...
    * Yield differentials come into focus...
    * Lisbon Treaty gets signed / ratified...

    Good day... And a Wonderful Wednesday to you! Well... Did you see the strong performance that Gold put in yesterday? And it didn't stop yesterday, overnight Gold is up another $7 on top of the +$20 gain it had yesterday... I've got some info on that, we can talk about later...

    Oh Shoot Rudy! Let's talk about it right here, right now! It's not every day that Gold not only goes past its previous all-time record high, but obliterates the previous figure! I know you're wanting to take a peek at the price of Gold in the currency round-up portion of the Big Finish, so go ahead, and then come on back... How'd that $1,090 and change price look to you? Pretty sweet, eh? That is as long as you are a Gold holder!...
  • More Wild Swings!

    In This Issue..

    * Euro goes back and forth over 1.43...
    * Eurozone unemployment rises to 9.2%
    * Australia's GDP surprises!
    * Is it protectionism?

    Good day... And a Wonderful Wednesday to you! I'm draggin' the line today, as I was helping my oldest son, Andrew, with things in his brand, spankin' new house, last night. Congrats to Andrew, for finding a great bargain, with a low, fixed, interest rate!

    OK... Whew! What a day in the currencies yesterday! Another day, and another day of wild swings.. Volatility is the name of the game these days... Watching, for instance, the euro trade down to 1.4220, and then up to 1.4320 and not just on a one-way ticket! Oh No! this is a bounce here a bounce there... But just like it was going from 1.41 to 1.42, it took a few times over the 1.42 figure before it finally stuck, and headed to 1.43... All the other currencies followed in the swings, as usual......
  • Bad news for GM and Chrysler rallies the US$...

    In This Issue..

    * Bad news for car makers rallies the US$...
    * Yen comes back strong...
    * Singapore to devalue?...
    * German Chancellor Merkel gives warning...

    Good day... And good Monday morning to all of you. I can't believe March is nearly over, it seems as though it just started. March will end up being a pretty good month for the currency markets, as investors exited the safety of US treasuries and started moving funds back into higher yielding assets. But the markets continue to be volatile, and news released on Friday and over the weekend has sent these investors rushing back to the safe haven of the US dollar.

    The Japanese Yen and US dollar benefited after a US Government official said Friday that bankruptcy may be the best option for GM and Chrysler. The dollar continued to gain strength this morning after US Treasury Secretary Geithner warned yesterday that some financial institutions will need 'large amounts' of aid. When the Treasury Secretary says large amounts, you know it is going to be billions or trillions! Geithner was making the rounds of Sunday morning talk shows to try and justify the money already spent and prepare the taxpayers for another request of funds....
  • Holiday pause...

    * US data may wake up the markets... * Toyota reports a loss... * NZD falls, AUD gains... * Will the Rupee shine in 2009?... ** Holiday pause... Good day... The currency markets remained in a tight range through the day yesterday with no movement from the majors currencies vs. the US$. Japan has a public holiday today, so trading this afternoon will be very quiet. Jennifer, who is doing all of our currency trading while Chuck is out, let me know that the trading desks were extremely quiet yesterday afternoon. But the markets may wake up a bit this morning, as we wait for data on 3rd quarter growth in the US. GDP is expected to have fallen .5% in the 3rd quarter, and Personal Consumption is also predicted to have dropped last quarter. Later in the morning we will get reports on the sagging housing market. New home sales and existing home sales are both expected to have dropped slightly during the month of November. And with sales dropping, prices of both existing homes and new homes are also expected to have dropped. Finally, this afternoon we will get the ABC Consumer Confidence number which will likely show another drop in consumer sentiment....
  • Waiting on the FOMC meeting...

    * FOMC to cut further... * Bernanke turns his back on inflation... * Kiwi and Australia rally... * Gold continues to shine... ** Waiting on the FOMC meeting... Good day...and welcome to another week, hopefully the currency markets can continue their assault on the dollar which began a few weeks ago. The dollar index peaked back on November 21, and with the exception of a few days around the beginning of December, the greenback has consistently fallen vs. most of the major currencies. Friday was no exception, and the dollar continued to give back gains over the weekend with the Euro climbing back over $1.35 for the first time in two months....
  • A Bailout For The Big 3...

    * Another currency rally.... * Bank of Canada cuts 75 BPS! * A Santa rally? * What Asia thinks... ** A Bailout For The Big 3... Good day... And a Wonderful Wednesday to you! We didn't get that snow I talked about yesterday, I guess the milk and bread on the grocery store shelves are safe today! Had to get "all dressed up" last night for a function that brought together a ton of old Mark Twain Bank people, among others. It was great, but I stood for two hours and I'm paying for it this morning... UGH! OK... Another day of "healing" for the currencies, as the 1.29 handle was achieved and held on to in the overnight markets. Slowly... Like sand through the hourglass, these are the days of currency healing! HA! That show, Days of our Lives, was burned into my brain as a kid, as it was my mother's fave soap....
  • The NBER Finally Says So!

    * RBA cuts 100 BPS... * It IS a recession! * Paulson to ruffle feathers? * Yen to rally hard? ** The NBER Finally Says So! Good day... And a Terrific Tuesday to you! Quoting one of my all time fave Christmas songs, Baby, it's Cold Out There! Winter has arrived, and I had to drag out the big heavy winter coat this morning. So... The seasons pass us, which is a good thing, because without winter, we couldn't have spring, and spring training! OK... Right out of the starters blocks this morning, the Reserve Bank of Australia (RBA) pulled the rug right out from under the "high yield status" of their economy, with another HUGE rate cut overnight... This time, the RBA cut 100 BPS, to an internal cash rate of 4.25%. This brings the total since September to 300 BPS! WOW! Talk about effectively unwinding seven years of tightening! The statement following the rate announcement leads me to believe that the RBA is probably finished cutting rates for now... It will be a wait-n-see what happens globally, before the RBA entertains any talk of further rate cuts... At least that's my opinion!...