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  • Time To Celebrate.

    In This Issue.

    * Dollar rallies briefly on OBL news.

    * Big move down is in Silver.

    * Central Bank meetings this week.

    * Commodities are top dog again!

    ...
  • Taking Back Lost Ground.

    In This Issue.

    * Bias to sell dollars remains in play.

    * Norway & Sweden gain.

    * Central Bank meetings today.

    * BOE see inflation pressures.

    ...
  • Jobs Disappoint!

    In This Issue.

    * A conventional reaction to poor jobs data.

    * But dollar is back this morning.

    * 4 Central Bank meetings this week.

    * Debt Commission fails to pass their plans.

    ...
  • Gold Soars To Another All-Time High!

    In This Issue..

    * $1,055 for Gold!
    * Global recovery prospects fuel run on the dollar...
    * Trichet to defend the dollar today?
    * Central Banks are diversifying...

    Good day... And a Thunderin' Thursday to you! It's raining here in St. Louis, so, it must be Thursday! It's a big night for yours truly, but I'll talk about that at the end... We've got some big moves going on in the currencies and metals, so we had better get to it, and save the chit-chat for later, eh? But first, today is the funding deadline on our latest BRIC MarketSafe CD... We'll have one more in November and then that's it!

    OK, front and center this morning, Gold has soared to another all-time high! When I turned on the screen this morning, Gold was flashing a great big $1,055 figure... WOW! But wait! OK, now that sounded like an infomercial... But wait! If you act now, you can get double the Ginsu knives! HA! OK, getting back to the original, but wait... Gold and Silver for that matter, aren't the only risk assets moving higher this morning... All 16 of the countries that are deemed to be the biggest U.S. trading partners, have currencies that are taking liberties VS the dollar this morning......
  • Groundhog Day 2009

    * The dollar remains strong... * GDP sinks to -3.8% * Central Bank rate meeting week... * Gold outperforms just about everything! ** Groundhog Day 2009 Good day... And a Marvelous Monday to you! It's Ground hog Day (what a great movie!) today... And what a Super Bowl Game last night! WOW! Almost as exciting as the year our Rams won and the tackle on the last play of the game for a touchdown, was made on the one yard line... Seems like eons ago, that the Rams won... Well, front and center this morning, the euro and other currencies are still reeling from that shot to their mid section by George Soros at the World Economic Forum, in Davos Switzerland. The dollar has flexed its muscles a bit more and taken the euro to just above 1.27... Not that euro holders want to hear this, but this IS what I was talking about all last month with the talk of an Obama bounce. The stock market hasn't caught on yet though......
  • Central bank intervention is the reason...

    * Central Bank intervention is the reason... * Busy data week... * Australia's central bank to mirror the BOE?... * China to slow appreciation ... ** Central bank intervention is the reason... Good day... I know most of you opened the Pfennig up this morning hoping to get a blast of Chuck's witty writing style. Well the airlines arranged for Chuck to stay in San Francisco a little longer, so you'll have to wait another day. The currency markets continued to get hammered by the US$ on Friday with the dollar index climbing all the way back above 76, a level we haven't seen since mid February. The dollar did sell off a bit in early European trading, but it has started to climb again as I write. Several readers sent me an excellent opinion piece by James Turk which appeared on GoldMoney's website. Mr. Turk points to central bank intervention as a major reason for the recent dollar strength. The article agrees with what I was saying last week; that the dollar has no fundamental reason to be rallying. The reports and news out of the US have not been favorable to the greenback, and the twin deficits in the US continue to soar out of control. I mentioned that the recent moves of the dollar smacked of intervention, as the dollar only wanted to move in one direction, ignoring any data which would typically send it back down. Turk points to some data which backs up this intervention theory....