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  • Brazil Hikes Rates Again!

    In This Issue..

    * Currency rally holds on to gains...
    * Rate hikes begin to add up...
    * Trade & Budget Deficit monsters...
    * Canada posts a trade surplus!

    Good day... And a Happy Friday to one and all! Let's go on record right out of the starters' blocks this morning, and say this will be a Fantastico Friday, eh?

    Well... What a rally in the risk assets yesterday! And for once, when the rally fizzled out yesterday afternoon, profits weren't taken in the overnight markets... Instead we saw a consolidation, if you will, of the price gains on Thursday in the overnight markets. That's nice to see, eh? For it had been the pattern of recent times to just sell off any gains, and end up back on square one, or even lower than the starting level. So, like I said, this was very nice to see... I checked the levels last night before I went to bed, and noticed that there had not been any sell off, and thought, what a great Friday it would be tomorrow, if these can hold throughout the night... And they did!...
  • Singapore announces a revaluation...

    In This Issue..

    * An Asian currency announces a revaluation...
    * Growth in the Asia-region benefits Australia...
    * Brazil to raise rates...
    * US trade deficit widens, pushing the dollar lower...

    Good day, it certainly was a good day here at EverBank yesterday. I will start today's Pfennig off with some good news which Chuck shared with the desk yesterday afternoon. The scans which he underwent last week came back clean, so the cancer is limited to the mass behind his eye, and hadn't spread to any other part of his body. This was just about as good as news as he could receive, and now he heads to the eye doctor to figure out a plan to deal with the mass. He wanted me to let everyone know how much he appreciates your emails of support....
  • Germany Weighs Possible Bail Out...

    In This Issue..

    * Some healing in the currencies...
    * Brazilian real heats up!
    * Is there a secret central bankers meeting?
    * Aussie Confidence weakens...

    Good day... And a Wonderful Wednesday to you! It sure turned out to be a Terrific Tuesday yesterday, even with 5 inches of snow on the ground! There are rumors going round that someone's underground, and she will rock you, no wait, the rumors are... 1. There is a secret central bank meeting going on, and 2. that Germany is weighing bailout possibilities for Greece...

    The latter really lit a fire under the risk assets yesterday, allowing stocks, currencies and commodities to enjoy a day in the sun, away from the shade the dollar was casting on the risk assets. Stocks turned around and had a strong showing for the day, Gold was up $15, and currencies, led by the Brazilian real gained back some precious ground VS the dollar. I know that sounded a little strange saying 'led by the Brazilian real' as I normally associate the currencies being 'led by the euro'......
  • U.S. Trade Deficit Widens...

    In This Issue..

    * A back-n-forth day in currencies...
    * Canada slips into deficit in trade...
    * Waiting on Aussie jobs data...
    * A story in Business Week, you'll want to read...

    Good day... And a Wonderful Wednesday to you! The 'January Thaw' continues... Hopefully, in time to save the orange trees in Florida! That's all we need right now is to see food prices ratcheting even higher than they already have gone... NOT!

    HEY! Good morning to you! I've had a very typical morning, with no surprises, no scavenger hunts for anything, didn't have to stop on my way in for anything, so, I was feeling pretty good, until I got here, and saw the price of Oil...

    The price of Oil has dropped from $83.18 a week ago, to $79.80 this morning... Why did this spoil my day? Well, like Lloyd Bridges in the Airplane movie, I must have picked a bad day to fill my gas tank, the other day, when Oil was so high!

    ...
  • A Mixed Bad of Data...

    In This Issue..

    * A Bias to take on risk...
    * China's Factory Output soars!
    * Brazil exports "stuff"!
    * Calling a bottom in Gold...

    Good day... And a Happy Friday to one and all! The 40 mph winds have stopped, which makes the cold a little more bearable... So... With the sun out yesterday, I would have to say that today will be a Fantastico Friday... Our office get together is tonight, should be a good time...

    Well... Yesterday, the non-dollar currencies looked like they were ready to break out of their funk against the dollar, led by the high yielders of Australia, and especially New Zealand... But, that flamed out as the day went on as the data for the U.S. was mixed, and did not give anyone a warm and fuzzy about the general direction of the economy....
  • Cash For Clunkers Is A Clunker!

    In This Issue..

    * Currencies trade in a tight range again...
    * U.S. Retail Sales are a clunker!
    * RBA's Stevens is upbeat!
    * Thoughts on Brazil...

    Good day... And a Happy Friday to one and all! The end of the week... It's been a tough week for yours truly, as I've hobble around in pain all week. But, as I recall, I promised 2 years ago that I would not complain about these things in the future... So! I carry on!

    Well... Front and center this morning... The currencies are trading near levels they were when I signed off yesterday morning. They did have a brief rally, after the U.S. Retail Sales data showed some real rot on the 'recover is here' vine... But that rally was snuffed out, as the risk aversion campers came back to the markets......