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  • The Currency Rally Continues!

    In This Issue..

    * Euro trades past 1.42...
    * Geithner make a promise to China...
    * Central Bank meetings this week...
    * Canada's Fin Min, speaks...

    Good day... And a Marvelous Monday to you! And welcome to June... Tradition in the Pfennig means a quick rendition of: June is bustin' out all over... All over the meadow and the hill! Buds're bustin' outta bushes... And the rompin' river pushes... Ev'ry little wheel that wheels beside the mill! And you thought I was a just an old Rock-n-roller!

    Well, on Friday I left you with the story of a currency rally for the ages... And it didn't let up there! Although the rest of the day on Friday the bias was to sell dollars, the real chunk of the dollar wasn't taken until last night in Asia... Here's the deal folks, and this won't be the first time you've heard this from me either!...
  • Bad news for GM and Chrysler rallies the US$...

    In This Issue..

    * Bad news for car makers rallies the US$...
    * Yen comes back strong...
    * Singapore to devalue?...
    * German Chancellor Merkel gives warning...

    Good day... And good Monday morning to all of you. I can't believe March is nearly over, it seems as though it just started. March will end up being a pretty good month for the currency markets, as investors exited the safety of US treasuries and started moving funds back into higher yielding assets. But the markets continue to be volatile, and news released on Friday and over the weekend has sent these investors rushing back to the safe haven of the US dollar.

    The Japanese Yen and US dollar benefited after a US Government official said Friday that bankruptcy may be the best option for GM and Chrysler. The dollar continued to gain strength this morning after US Treasury Secretary Geithner warned yesterday that some financial institutions will need 'large amounts' of aid. When the Treasury Secretary says large amounts, you know it is going to be billions or trillions! Geithner was making the rounds of Sunday morning talk shows to try and justify the money already spent and prepare the taxpayers for another request of funds....
  • A change in the Trading Theme?

    * A change in the Trading Theme? * Gold rebounds Big time! * ECB cuts 50 BPS, as expected... * Lots of lessons today... ** Jobs Jamboree Friday! Good day... And a Happy Friday to one and all! It supposed to be 70 degrees here today, so in my book that makes it a Fantastico Friday! It's also a Jobs Jamboree Friday, and while this report is probably not going to be anything good, it will be Fantastico BAD! The experts have forecast a job loss in February to be 650K!!!!!! Six Hundred and Fifty Thousand did I say? Yes, sir, may I have another, sir? Well, shiver me timbers, this is just downright awful! And if it prints this bad, it will be the most jobs lost in a month since 1949! This is horrific, just plain horrific folks... And in my opinion, will NOT signal the bottom of the barrel for labor just yet... This thing has momentum and I don't think you'd want to step in front of this run-away bus!...