Browse by Tags

In This Issue..

* Another Treasury auction today...
* Goldman says to buy euros!
* Oil fuels Commodity Currencies!
* RBNZ to meet tonight...

Good day... And a Wonderful Wednesday to you! Well... Yesterday was 'Turn Around Tuesday'! Add to that, the fact that there were a number of reasons for the euro to lead the charge for currencies VS the dollar yesterday. And... A word from one of the economists that I keep on my list of 'to read'... So, let's get to the tape from Turn Around Tuesday!

I heard yesterday someone say 'well, we sure turned around today in the currencies'... And I thought, Shoot Rudy, why not name it Turn Around Tuesday? Then I went back to the history page on my trusty Bloomberg, and saw that on 4 of the last 5 Tuesdays, the currencies did in fact 'turn around' their performances from the day before! Not that this is something we can hand our hats on, and make trades accordingly on Monday nights / Tuesday mornings... But, it's an interesting fact nonetheless!...

* Chuck's thoughts... * US housing still a drag... * Rate cuts push currencies lower... * Yen rallies and is joined by some odd partners... ** Chuck finally heads back home.. Good day...Another big move up by the dollar and the Japanese yen last night. Really just another repeat of what we have been seeing each day of this week, dollar down, gold down, and oil down. And with the stock market falling dramatically yesterday, all of us on the desk were searching for something that was actually up yesterday. Our bond trader, Don Reis let me know that muni bonds rallied dramatically, along with US treasuries. So I guess investors are just continuing to park funds into the US fixed income markets. Chuck is headed back home this afternoon, after spending the past two weeks traveling the country with FX University. I'm sure he will be happy to get to sleep in his own bed again tonight, and will catch up on his rest tomorrow. He sent me the following note to share with readers....