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  • Waiting On The RBNZ...

    In This Issue..

    * Currencies trade in a tight range...
    * Fed to keep rates unchanged till 2011?
    * Brazil GDP soars 9%!
    * Another glut of Treasuries to auction...

    Good day... And a Wonderful Wednesday to you! I had a first today on the way to work... I hit every green light! Now... I'm sure you are wondering why I would even have green lights at this hour of the morning... Me too! But they are there! And it was smooth sailing into work today... YAHOO!

    OK... Let's get serious, serious... The currencies traded in a tight range yesterday, with a brief mini-rally in euros, as the single unit rallied to 1.20, but that was short-lived. The rumor going around was that the Swiss National Bank (SNB) was intervening...

    ...
  • Thin trading brings tight ranges...

    In This Issue..

    * Thin trading brings tight ranges...
    * Searching for the exits...
    * Mixed data in Europe...
    * Yen and Real make strange bedfellows...

    Good day...We had a pretty quiet 24 hours in the currency markets, with the majors all trading in a very narrow band vs. the US$. We will probably have a few more of these days during the next two weeks, as currency desks are manned by the backups and trading thins out. Many of the institutional investors will be moving to cash in order to preserve gains for their year end statements, and individual investors will have the holidays to take them away from the markets. Occasionally we will get a rogue piece of economic data which shoves the market one way or the other, but we typically won't see any long term positions being put on during the last two weeks of the year....
  • Aussie Jobs Surge!

    In This Issue..

    * High yielders rebound...
    * Kiwi surges 2-full cents!
    * SNB softens tone on franc strength
    * The U.S. Debt Clock...

    Good day... And a very cold Tub Thumpin' Thursday to you! I remember back to this summer, when in August, we were camping, and it was only 75 degrees, and old man at the country store said to me... 'We're going to pay for this come winter'... I have a bad feeling right now that the old man will be bang on! UGH!

    OK... A chill crept over the dollar bulls overnight, when Australia announced their latest jobs data. Since that time, the dollar has been sold, albeit not frantically, but sold nonetheless, and the high yielders, like Aussie dollars have been the main destination of those funds created from the dollar sales.

    ...
  • 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....