Browse by Tags

Daily Pfennig

Blog Subscription Form

  • Email Notifications
    Go

Archives

  • Abu Dhabi Provides $10 Billion Bailout...

    In This Issue..

    * A Huge Friday Sell off!
    * U.S. Retail Sales are strong...
    * Testing the risk waters again...
    * Norges Bank & Riksbank meet this week...

    Good day... And a Marvelous Monday to you! Friday turned out to be Fantastico, as I had hope for, and the weekend was for resting, as I was on my feed too much Friday night. It was NOT a Fantastico Friday for the non-dollar currencies, though... I'll get to that in a minute... First though, I want to crow a bit on the Dubai debt problems...

    It was announced this morning that Dubai's government received $10 Billion in financing from Abu Dhabi... Hmmm... You know, I read somewhere a couple of weeks ago, when this debt /loan repayment problem was announced, that in the end, the Abu Dhabi government would step in to bail out Dubai, for the people running the two governments are blood related, and even though there had been shots fired between the two, blood would run thick here... And voila that's exactly what happened!...
  • Gold Hits $1,200!

    In This Issue..

    * It's a Risk On Day...
    * Swiss franc hits parity to the dollar!
    * RBA to continue raising rates in 2010...
    * BRIC MarketSafe CD funding closes tomorrow!

    Good day... And a Wonderful Wednesday to you! Well... It's another Risk On Day, at this point after the overnight sessions of Asia and Europe. Although there seemed to be some traders that wanted to exit risk assets... The moves were strange... Ain't if funny how the night moves? When it seems you don't have much to lose? OMG, here I am quoting Bob Seeger at 5 A.M.!

    Traders in the overnight markets allowed the Big Dog euro to remain above 1.51, which it scaled to yesterday afternoon. We saw some data in the U.S. yesterday that flashed a green light at the risk takers, so... As we begin today, the Aussie and kiwi dollars are soaring once again, and the Swiss franc has moved past parity against the dollar...

    ...
  • It's A Risk On Monday!

    In This Issue..

    * Currencies recover from Friday sell off!
    * Gold also recovers!
    * RBA to meet tonight!
    * Canada to exit their recession?

    Good day... And a Marvelous Monday to you! I hope your Thanksgiving was special. I had a great time on my day off on Friday, as we went to the country and cut down our Christmas Tree. Quite early for us this year, but you have to take advantage of the 'windows' of time when they pop open! I have to say something front and center this morning though... Last week when I would say we need to give thanks to groups of people, I missed out on something very special to me... My health... I'm thankful that I was allowed to fight cancer, and be around now when my little granddaughter, Delaney Grace is so darn cute!

    OK... Front and center on the currencies this morning, we have the fears of a default in Dubai, fading, and that brings the risk takers back out... So, we had one day of bloodletting on Friday, and come Monday, it'll be alright, Come Monday, I'll be holding you tight, no wait! Come Monday, the tourniquet had been applied, and things are back on track. The Big Dog, euro is off the porch, chasing the dollar down the street once again, and is trading at 1.5050, as I begin to write this morning.

    ...