Browse by Tags

Daily Pfennig

Blog Subscription Form

  • Email Notifications


  • A Vote Of Confidence!

    In This Issue..

    * China boosts euros...
    * Chinese exports soar!
    * RBNZ hikes rates!
    * Bernanke on the "hill"!

    Good day... And a Tub Thumpin' Thursday to you! Well, we have a new Stanley Cup Champion, and plenty more to talk about today! The Mid-West has been in one of those weather patterns that sees the day heat up, then produce violent storms, and then clears up... Sometimes it seems as though this lasts forever!

    OK... Well, Front and Center this morning, the euro is pushing higher on some words from Asia... Seems that China is very much behind the euro, and made statements related to that thought, which really put some starch in the euro's shorts overnight. The thing I worry about right now, is the European Central Bank (ECB) meeting that's going on as I type my fat fingers to the bone... The ECB could crush this mini-rally in the euro in a heartbeat by saying the 'wrong thing' at their press conference that will be held after the ECB announces that rates will remain unchanged.

  • German Business Confidence Falls...

    * The euro gives back 1-cent... * The Economist agrees with Chuck! * RBNZ takes a shot at kiwi... * FOMC week! ** German Business Confidence Falls... Good day... And a Marvelous Monday to you! Friday turned out to be Fantastico, as I hoped it would, and it ended with a nice surprise retirement party for long colleague, John Kaupisch. I couldn't talk about it Friday, because it was a surprise... But it was real nice, and John was surprised... His last day is July 3... First guy to retire here... I'll probably be the next, but with a 13-year old, I doubt that happens any time in the near future! The currencies held steady Eddie on Friday, with the euro popping up to 1.5660 at one point, only to end the day around 1.5620. Still, a nice day given all the negativity the euro had been receiving because of the Fed's rhetoric, and other minor stuff in the Eurozone... Overnight though, the euro has gotten treated like a red headed step child (OK no nasty comments, it's just a saying). The German Business Confidence as measured by the think tank, IFO, fell to the lowest level in more than two years this month... Business leaders are feeling the pinch of record Oil prices and the threat of higher interest rates....