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Export Growth Drives GDP!

* GDP grows 3.3%! * But it's a one and done for GDP! * Plenty O' data today... * A Wall Street Journal interview... ** Export Growth Drives GDP! Good day... And a Happy Friday to one and all! A Fantastico Friday in my books because it will be the end of a bad week for yours truly, and the start of a 3-day Labor Day Holiday weekend! YAHOO! Another storm, Gustav, is headed for the Gulf Coast, and maybe Louisiana, which wouldn't be good. So my thoughts are with those in the path of Gustav. Gustav is causing some problems for the price of Oil, this bubblin' crude, black gold, Texas tea, has posted its weekly gain in two months! The rise in Oil prices has lit a fire under Gold, and put pressure on the dollar once again, along with inflation pressures to say the least! The dollar pushed the euro and other currencies lower yesterday after the 2nd QTR GDP surprised on the upside, posting a gain of 3.3% annualized... I told you twice this week that 2nd QTR GDP would be stronger and yesterday, I laid out the scenario that the boost would come from: 1. stimulus checks, and 2. export growth because of the weak dollar....

Published Fri, Aug 08 2008 9:23 AM by Chuck Butler

Filed under: Dollar, China, Gold, Euro, Alan Greenspan, GDP, Eurozone, Renminbi, Hurricane Gustav, Exports

A Downward Revision of Eurozone Growth...

* Euro rally ends quickly! * Housing Data continues to be bad... * OECD wants Norway's rates increased... * The Aden Sisters on a Wednesday! ** A Downward Revision of Eurozone Growth... Good day... And a Wonderful Wednesday to you! I'm sitting here wondering what to write about this morning, and on the radio is a classic song by Led Zeppelin, Dazed and Confused... Seems quite apropos, eh? I say this because that's what I've been for the last month, as the dollar got up from its death bed, and there's not a sign of any medicine that was prescribed had been taken! Oh well, why would I think that things would change for me at this stage of my life, I've been dazed and confused for a long time! HA! I'm sure that's what a lot of people are saying right now anyway... The euro rebounded over 1-cent yesterday, but that rebound has been wiped out completely in the overnight markets... There's just no lasting power in any currency rally VS the dollar right now. And as I keep going saying, this is reminding me so much of 2005 when the dollar covered up its pimples and posed for GQ, only to see the pimples pop through the makeup by year-end....

Published Wed, Aug 08 2008 9:00 AM by Chuck Butler

Filed under: Currencies, Dollar, China, Gold, Euro, Japan, Norway, Home Prices

Inflation & Jobless Rate Soars!

* Dollar wages war on euro! * Pulling the wool over our eyes... * A Gold discussion... * 4-weeks of selling renminbi... ** Inflation & Jobless Rate Soars! Good day... And a Happy Friday to one and all! It's been 3 weeks since I last started a Friday with that note. I hit every red light this morning on my way to work, which led me to think aloud in the parking lot, that this isn't going to be a Fantastico Friday... And when I turned on the currency screens, after reaching my desk, I could see why I thought those negative thoughts... It's getting ugly... Yesterday, I was busy with my head down working on something, when Chris Gaffney yelled across the trading desk, "Hey, Chuck, what happened to the euro?" I looked up to see the euro had lost 1-cent in a matter of 20 minutes... But that's not the end... This morning, the euro has given up another 1-cent, and now trades with a 1.47 handle. Just what the heck is going on here?...

Published Fri, Aug 08 2008 9:34 AM by Chuck Butler

Filed under: Dollar, Inflation, China, Gold, Jobs, Renminbi

A Big Data Week!

* Some healing in the currencies... * U of Mich. Confidence falls... * Unloading Treasuries? * Turning the tables in N.Z.?...

Published Mon, Apr 04 2008 9:28 AM by Chuck Butler

Filed under: Australia, Currencies, Dollar, Inflation, China, Gold, Euro, European Central Bank, GDP, Deficit, U. of Michigan Consumer Confidence Index

Euro tracks toward $1.55...

* Euro tracks toward $1.55... * Japanese Yen hits 8 year high... * Update on Indian Rupee... * Buffet continues to invest into currencies......

Published Tue, Mar 03 2008 12:22 PM by Chuck Butler

Filed under: Inflation, China, Gold, Euro, Yen, Trichet, Indian Rupee

Another Bad Week for the Dollar...

* Another bad week for the dollar... * A monoline bailout plan in the works? * Kiwi near a 22-year high! * Precious metals are telling us something......

Published Mon, Feb 02 2008 1:53 PM by Chuck Butler

Filed under: Australia, Dollar, Bonds, China, Bailout, Recession, Silver, Kiwi, Gold

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