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  • German ZEW Investor Confidence Plummets!

    In This Issue..

    * Currencies move back and forth...
    * A HUGE hickey for us from Fannie and Freddie...
    * The Chinese respond to Geithner...
    * Canada GDP to reach pre-recession levels?

    Good day... And a Terrific Tuesday to you! Well, day one of me basically by myself this week is put in the books... A non-event... A dentist appointment was all the excitement I had last night!

    Well... That risk assets rally that we were watching yesterday morning, ran into a speed bump around noon... Yes, the euro was nearing 1.23, Aussie was looking as though it would touch 87-cents, and so on... But then along came Moodys... Talk about bad timing! Ok... Let me set this up for you...

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  • Retail Sales Soar!

    In This Issue..

    * Currencies rally on Retail Sales!
    * China likes investments in Canada...
    * Big Ben the 'inflation fighter'...
    * Gold climbs to $1,018!

    Good day... And a Wonderful Wednesday to you! Good news for me this morning, the pain in my left knee has subsided... Now, If I could just get that swelling to go down, I'd be in tall cotton! This has been quite the ordeal on the old Pfennig writer, and one that I will be glad to put in the rear view mirror!

    Well... When I turned on the currency screens this morning, the euro was trading with a 1.47 handle! WOW! It just skipped to my Lou right through the 1.46 handle, eh? It began yesterday afternoon, the dollar was getting sold on the news of a strong Retail Sales figure, more on that in a minute, and the euro was edging up the 1.46 ladder... The move to get it past 1.47 came in the overnight markets... Now, having gotten you all lathered up about 1.47, I have to say that since I turned on the currency screens, the euro has lost ground back to 1.4688, but still... That's quite an impressive move from yesterday morning, eh?

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