Browse by Tags

In This Issue..

* Non-dollar currencies rally...
* Euros and Aussie dollars lead the pack...
* $1.42 Trillion Deficit for 2009!
* TIC's data gets ignored again!

Good day... And a Marvelous Monday to you! Another 'lost' weekend for our college and professional football teams! UGH! The sun finally came out this weekend. YAHOO! It felt so good to be in the sun again... The TICs data was something that needed to be dealt with on Friday, but once again the markets ignored it... I'm telling you, this smells like, walks like, and talks like a gag order... OK... Let's get going this Marvelous Monday!

The non-dollar currencies all drifted on Friday, with the dollar seeing a bit of buying... But that's all been thrown to the curb this morning, as the non-dollar currencies, for the most part, are in rally mode VS the dollar.

...

In This Issue..

* Home sales improve...
* Are we there yet...
* Intervention talks...
* Buying on dips...

Good day...and a Fabulous Friday to you. As I was sitting here this morning collecting my thoughts, it just hit me like a ton of bricks that we're already towards the end of July and next weekend brings us into August...where's the pause button when you need it. Anyway, yesterday started out like any other quiet morning so far this week but we did see a nice little run in the currencies only to see profit taking as we moved into the late afternoon. As I turned the computer screens on this morning, I see where the overnight markets brought us right back up to the levels we began with this time yesterday. The big story that moved the markets was the better than expected housing numbers that, again, gave investors that warm and fuzzy feeling that I touched on yesterday. Since I already let the cat out of the bag, I'll jump right in...

...

In This Issue..

* Risk Assets soar!
* German Investor Confidence surprises!
* High yielders kicking tail...
* Who's afraid of the SNB?

Good day... And a Terrific Tuesday to you! Finally! Spring has arrived and for more than one day at a time here in St. Louis! YAHOO! A very cold and wet spring for us, brought us to the middle of May before normal spring weather was upon us... Good things come to those who are patient, right?

OK... Speaking of patience... I think that's what we'll all have to possess a lot of going forward with these currencies and stocks... Here's what I'm talking about... Yesterday morning it looked as though the recent rally in stocks was over, complete, pack up the bags, get on the bus, Gus... And with the trading theme of throwing all risk assets in the same bag and trading them alike that's been in place since last July, this would seem to be a nail in the coffin of the currency rally we've seen going on since March 1st.......

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......

In This Issue..

* Currencies trade in a tight range...
* U.K. Budget announcement...
* When will Treasuries follow Gilts?
* Gold as a currency...

Good day... And a Wonderful Wednesday to you! Another bad night for your Blues, which means their season has come to an abrupt halt... They are a young team, so they'll be back, next year...

OK... The euro traded in a very tight range yesterday with a bias to sell dollars, but like I said, it was very tight... The Aussie dollar rallied very strongly during the day, adding over 1-cent to its figure. It sold back some of that 1-cent gain overnight though. As the upbeat stock session, immediately turned sour after the close... As I said yesterday, there was a lack of data to help the currencies along, and they had to rely on the earnings season for direction....

In This Issue..

* Euro at one-month low... * Trichet talks rate cuts... * Riksbank & Bank of Canada this week... * The Mogambo on a Monday!

Good day... And a Marvelous Monday to you! Today is a special day, in that it is the Big Boss Frank Trotter's birthday! Happy Birthday Boss! Actually Frank is more of a very good, long time friend, mentor, and then boss. We've worked together for a very long time... I tell people at shows that Frank and I do together, that we've been working together for so long... The Dead Sea wasn't even sick when we began working together! HAHAHAHAHAHA!

OK... A bad day a the office for the euro and other currencies on Friday, and then last night in the overnight markets... European Central Bank (ECB) President, Trichet, once again deep-sixed the euro with talk of further rate cuts. He did attempt to water down the message by saying that "any rate cuts would be measured 25 BPS cuts" Memo to Trichet... It doesn't matter what the size of the debasing is, as long as you are going to debase your currency, the markets will make you pay for it!...

* Everything but Treasuries trades heavily... * Fundamentally speaking on Australia... * Bank of Canada to cut rates today... * Tell me your story... ** RBA Surprises The Markets! Good day... And a Terrific Tuesday to you! Well... The BIG NEWS this morning comes to us from down under, where the Reserve Bank of Australia (RBA) surprised the markets and left rates unchanged for the first time in 7 months... Now, that's the horse of a different color! How dare they? How could they? Why everybody is doing it, Where do they get off thinking they didn't have to? Ahhh, grasshopper... The RBA continues to shine in my eyes as the best run Central Bank in the world, and this is one of the reasons why... Yes, they could have gone with the rest of the crowd, and cut rates to the bone, but why stoke inflation? Now, having said all that... It doesn't mean the RBA won't cut rates again in the future... It just means that they were being prudent, and taking a step back to see what their previous rate cuts had done to the economy, and how the economy would be affected by them. So, the proverbial "pause for the cause"... But, I believe it to be warranted, given the RBA had cut 400 BPS away from their once lofty rate in 7 rate cuts......