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Daily Pfennig

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  • Francs & Copper Trade At All-Time Record Highs!

    In This Issue.

    * Tight ranges, with bias to sell dollars.

    * Euro recovers.

    * China's manufacturing slows.

    * Foreclosures soar! UGH!

    ...
  • The Euro Gets Bogged Down...

    In This Issue..

    * A split among ECB ministers...
    * Trichet walks a fine line...
    * China and gold and copper...
    * Canada's economy has a pulse...

    Good day... And a Happy Friday to one and all! A Fantastico Friday as well, as all our prayers were answered once again, and my scans were clean! YAHOO! They did see something in my lung... It's called pneumonia! I knew this "thing" I had was more potent than anything I had ever had before... So... The proper medicine was dispatched, and hopefully in about 4 days I'll have this whipped! I've got the whole weekend to rest, and drink plenty of fluids! Now if I wasn't sick, that last sentence would take on a whole new meaning, if you get my drift!

    OK... Now that we have that housecleaning out of the way, it's time to go to work! Well, the currencies traded in a very tight range yesterday, only to see the euro lose ground in the European session, this morning, as ECB President Trichet, deep sixed the currency this time!...
  • Dollar continues to slide...

    * Dollar continues to slide... * Housing bailout passes congress... * Chinese Renmibi falls... * Aussie dollar peaked?... ** Dollar continues to slide... Good day... And welcome to the last week of July. I spent the past week fishing with my son and father in law up in Manitoba, Canada. We had some great weather, and caught an absolute ton of Walleye and Pike. My son caught a Pike almost as long as he is tall. Just a great guys trip; but enough about my time off, I'm back at work now, so lets get to the currency markets. The dollar continued to slide throughout Friday's trading as concern of further US credit losses trumped some negative data released in Europe. The dollar dropped for a second day against the Euro after a story in the Financial Times quoted Gary Stern, president of the Federal Reserve Bank of Minneapolis, saying the credit crunch will worsen. Nothing new here, but as Chuck stated in Friday's Pfennig, currency traders continue to play the game of "Who's Data is Worse" with the US economic data coming in even worse than the rest of the world....
  • More Bad Data For The U.S. Economy

    * Softer CPI? * Foreclosures on the rise... * Just wishing on a star... * Jim Rogers on a Wednesday!...