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  • A Jobs Jamboree Friday – 6/4/2010

    In This Issue..

    * Euro gets beaten down again...
    * Why should we do anything now?
    * Brazil keeping inflation away...
    * ADP says 55,000 jobs created in May...

    Good day... And a Happy Friday to one and all! I suspect this will end up being a Fantastico Friday, but right now, not so much... Today is the Big Jobs Jamboree, and the cable news stations are spinning it quite nicely. So nicely put that stock jockeys are believing the spin and running stock futures higher. I've got that to talk about today, and more debt stuff... Believe me dear reader, I wish I didn't have to talk about this debt stuff, but I feel as though me and a few of my friends are the only ones doing so, and I don't want you to become like the rest of the country and become 'comfortably numb' with the deficit figures!...
  • Risk Returns...

    In This Issue..

    * Currencies maintain their gains...
    * Aussie and real jump higher!
    * U.S. manufacturing is stronger...
    * Following Japan...

    Good day... And a Terrific Tuesday to you! Wow, it's cold here! I had to stop for gas this morning, and had some very bad thoughts about Al Gore, while standing there! That's funny! And, as one of my fave comedians says... 'that's funny, I don't care who you are!' HA

    Hey! I exchanged emails with the Mogambo Guru yesterday... He's such an interesting person! He's enjoying his time away from writing, playing golf, and spending his profits from Gold! If you need a Mogambo fix, you should check out this web site: www.bringbackmogambo.com

    OK... The first trading day of 2010, was interesting, as it certainly looked like risk was back on the table, and the Emerging Markets, and any currency that has some yield, were the beneficiaries of this return to risk taking. It certainly didn't take traders long to get back to dissin' the dollar in favor of these risk assets...I will warn you about this first day of the year move... Let's see if it carries through the rest of the week... If so, then the risk taking bus is about to leave the station, you might just want to be on that bus!

    ...
  • Brazil Throws The Cat Among The Pigeons!

    In This Issue..

    * Real leads Commodity Currencies to the woodshed!
    * Niall Ferguson speaks his mind...
    * BOC leaves rates and statement unchanged...
    * Bollard gives the green light!

    Good day... And a Wonderful Wednesday to you! How many people out there know about "network neutrality"? Well, if you don't know, you're about to find out tomorrow, when it will be decided upon... I'm not going to get into it, because after you find out what it is you'll know why I didn't explain... All I'll say is that this is just another thing that's flying below the radar that's about to be thrown in our laps...

    OK... Well... Yesterday, after signing off and hitting the 'send button' for the Pfennig, I saw a story that shot across the desk, and then a follow up was sent to me by Don Ries later in the morning. The story was about the Brazilian Gov't imposing a 2% tax on capital inflows... This was done in an attempt to slow down the Brazilian economy by slowing down the "hot money" that's going into the Brazilian stock market by foreigners... Talk about throwing a cat among the pigeons!...
  • Desperately Seeking Yield...

    In This Issue..

    * Currencies rally...
    * More on the BRIC's...
    * New Zealand's GDP contracts..
    * Bernanke gets grilled!

    Good day... And a Happy Friday to one and all! The end of what seemed to be a very long week... The last weekend in June, can you believe that? Next week, we'll be getting ready for the 4th of July celebrations! WOW!

    Well... What a volatile week it has been in the currencies! Up, down, all around, and settling back to levels that we saw before the Fed's FOMC meeting earlier this week. Suddenly, investors are looking for yield again... Looks like they are "Desperately Seeking (not Susan) Yield! And why not? The Fed, and the Bank of Canada (BOC) have come out and said that there will be no interest rate hikes until we've turned quite a few pages on the 2010 calendar....
  • Gold Vending Machines!

    In This Issue..

    * More range trading...
    * SNB doesn't target the franc...
    * Norges Bank cuts rate but looks forward...
    * Buy your gold and Snickers!

    Good day... And a Tub Thumpin' Thursday to you! It was 95 here yesterday, and forecast to be even warmer, or should I say hotter, today! WOW! Like overnight, it turned to summer, after the coldest, most wet, spring I can ever recall... I know, I'll get 100 emails reminding me that summer doesn't officially start until next week... I'm just talking about the summer-like weather!

    The currencies remained in that range I talked about yesterday, with a slight bias to sell dollars, but not much of one. Crude Oil prices moved higher on the day and overnight, which doesn't play well with a dollar rally, and therefore, has pushed the dollar down a bit... But again, we're talking minor moves. It's as if someone (traders) are waiting for something BIG to happen with data, the Fed, the Treasury, before taking one direction....