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  • Trichet Signals For A Rate Hike!

    In This Issue.

    * Euro rallies to 1.40!

    * Gold & Silver play catch-up.

    * Jobs Jamboree Friday!

    * Brazil GDP soars!

    ...
  • More of the same for the Euro and US$...

    In This Issue..

    * More of the same...

    * Chuck's take on the Aussie $...

    * Currency intervention...

    * Brazil complains about the low rates in the US...

    ...
  • Risk Assets Rally!

    In This Issue..

    * Currencies have strong rally VS the dollar...
    * Gold returns to $1,210...
    * Rosengren talks deflation...
    * Aussie Confidence soars!

    Good day... And a Wonderful Wednesday to you! WOW! The National League won for the first time since the Wizard of OZ (Ozzie Smith) played in 1996! Being a National League guy, I grew up watching the National League win these games every year, but that changed and it's been an American League affair for some time. But not this year! YAHOO!

    Another Big WOW! Goes to the currencies and metals yesterday! What a rally! The currencies, led by the Big Dog euro, left the porch and chased the dollar dog down the street all day! The euro returned to the 1.27 handle, moving through the 1.26 handle like a hot knife goes through butter! By the time I made it into the office from the doctor's office yesterday morning, the damage to the dollar was a done deal... Last night, before I went to bed, I checked the currencies just to see if there had been profit taking in Asia... And what to my surprise did I see? But no profit taking, what glee!

    ...
  • Gold Falls Below $1,200...

    In This Issue..

    * A Risk Off day...
    * Currencies rally on Tuesday...
    * Chinese bank has strong IPO...
    * Kicking the can down the street...

    Good day... And a Wonderful Wednesday to you! It was a Terrific Tuesday for the currencies VS the dollar, it was not a Terrific Tuesday for Gold, and the Cardinals!

    Front and Center this morning, Gold is retreating again today and has fallen well below $1,200... Here's the skinny... Yesterday, it was announced that China's Agricultural Bank of China reported a very successful public offering, raising more than $22 Billion. Now, what does this have to do with a Gold sell off I hear you saying? Ahhh grasshopper... Come, sit, let's discuss...

    Basically, it's like this... If a Chinese Bank can pull off a very successful IPO without breaking a sweat, then the daggers can be put away on a global risks, and that could be seen in the performance of equities all across the board yesterday....
  • Waiting On The RBNZ...

    In This Issue..

    * Currencies trade in a tight range...
    * Fed to keep rates unchanged till 2011?
    * Brazil GDP soars 9%!
    * Another glut of Treasuries to auction...

    Good day... And a Wonderful Wednesday to you! I had a first today on the way to work... I hit every green light! Now... I'm sure you are wondering why I would even have green lights at this hour of the morning... Me too! But they are there! And it was smooth sailing into work today... YAHOO!

    OK... Let's get serious, serious... The currencies traded in a tight range yesterday, with a brief mini-rally in euros, as the single unit rallied to 1.20, but that was short-lived. The rumor going around was that the Swiss National Bank (SNB) was intervening...

    ...
  • A Jobs Jamboree Friday – 6/4/2010

    In This Issue..

    * Euro gets beaten down again...
    * Why should we do anything now?
    * Brazil keeping inflation away...
    * ADP says 55,000 jobs created in May...

    Good day... And a Happy Friday to one and all! I suspect this will end up being a Fantastico Friday, but right now, not so much... Today is the Big Jobs Jamboree, and the cable news stations are spinning it quite nicely. So nicely put that stock jockeys are believing the spin and running stock futures higher. I've got that to talk about today, and more debt stuff... Believe me dear reader, I wish I didn't have to talk about this debt stuff, but I feel as though me and a few of my friends are the only ones doing so, and I don't want you to become like the rest of the country and become 'comfortably numb' with the deficit figures!...
  • "Fat Fingers"?

    In This Issue..

    * Euro bounces off lows...
    * Stocks bounce off lows too...
    * Jobs Jamboree Friday!
    * Canada's jobs soar!

    Good day... And a Happy Friday to one and all! A Fantastico Friday for me, as I head to a weekend from work in the first time in a month of Sundays! Big news came across my desk for all us EverBankers and friends... Our Marketing Guru, Jason Coots, saw the delivery of his brand new baby boy yesterday... Welcome Sam Coots!

    OK... Front and Center this morning is all the hootin' and hollerin' about the stock market move yesterday... At one point it was down 1,000 points... That's right, I did not let my 'fat fingers' mess that up... However, someone on Wall Street apparently did, as they meant to enter a trade to sell 'millions' of shares of Procter & Gamble, but entered 'Billions'... That's Billions with a capital 'B', as Ronald Reagan used to say! Upon discovering the 'fat fingers' error order was restored... However, the problem here is that stocks were down BIG TIME before the 'fat fingers' error... It was a bad day a red rock for stocks......
  • A Rate Hike For Australia...

    In This Issue..

    * Euro continues to get sold...
    * RBA shocks markets with statement...
    * Brazilian real bucks the trend...
    * Gold continues to move higher...

    Good day... And a Terrific Tuesday to you! Thanks for all the 'Welcome Back' notes and e-mails yesterday... It helped make the day rush by in a heartbeat! Before I knew it, I was yawning, and getting tired, so... Out the door I went! But all-in-all, it was good to be back in the saddle, and to see all my colleagues here at EverBank again.

    Well... Front and Center this morning, is the fact that the NY boys and girls didn't like the Greek Bailout one iota yesterday, sending the single unit below 1.32... When the traders in Asia and London returned last night and this morning, they too did not like what they saw and sent the euro even lower......
  • Greek crisis is sooo yesterday...

    In This Issue..

    * Merkel urges action on Greece...
    * Brazil raises rates...
    * Sterling rises on UK election polls...
    * Precious metals continue to climb...

    Good day, and what a glorious day we had here in St. Louis. The sun was shining yesterday afternoon as the Cardinals completed their 4 game sweep of the Braves with a big 10-4 win. The day was capped off for Chuck and a bunch of his parrot-head friends with an outdoor concert from one of his faves - Jimmy Buffet. I'm sure they had a great time, as it is hard not to when the weather is perfect and Buffet is up on stage. Investors worldwide seemed to be in a better mood also. The worries of Greek sovereign defaults were in the past, and traders rushed back into currencies which could give them a yield advantage....
  • Clairvoyant Pundits?

    In This Issue..

    * Euro backs off yesterday's high...
    * More tough talk from Germany....
    * Brazil talks about weakening real...
    * Waiting on Aussie CPI tonight...

    Good day... And a Terrific Tuesday to you! It's still raining here, but forecast to stop today... The temperature dropped big time too, bringing back cold air... Little Delaney Grace, and I were bummed out that we couldn't go outside yesterday!

    Well... As the day went on yesterday, things got more mixed up... I kept reading news stories stating that the euro was falling VS the dollar, but all the while, the currency screen kept showing the euro rising, actually getting very close to 1.34 on the day...

    So, you can't always take what you hear or read as fact... Or... As Marvin Gaye would said years ago... People say believe half of what you see, Son, and none of what you hear....
  • Euro falls as Greece pushed toward IMF...

    In This Issue..

    * Euro falls as Greece pushed toward IMF...
    * Decision on Norwegian interest rates...
    * Canadian dollar rises...
    * Kiwi to outpace Australian dollar...

    Good day, the dollar gained ground across the board as the news hit that the IMF will be brought in to help rescue Greece. The dollar was also helped by data which showed existing housing sales fell by less than expected in February. We will get additional news on the status of the US economy today, with the release of durable goods and new home sales numbers for February. We will get a rate decision by the Norwegian central bank today, which could stoke calls for higher rates here in the US. But the big news overnight is concerning the euro (again!).

    The euro sold off by a full percentage point vs. the US$ after both Germany and France are reported to have agreed to have the IMF involved in aid to Greece. This is an about face for European leaders who announced last week that they had agreed on a European solution to the Greek crisis. But Germany's Chancellor Angela Merkel threw a spanner in the works a week ago when she said Germany would not participate in giving Greece financial aid. This threw the euro into crisis mode again, as the 'agreement' reached early last week never materialized....
  • Global Growth Takes A Hit!

    In This Issue..

    * Back to the 'safe haven' trades...
    * The dollar hammers the euro!
    * ECB & BOE meet today...
    * Brazilian games with the real...

    Good day... And a Tub Thumpin' Thursday to you! On one hand it's tub Thumpin' because I'm here in what was sunny Florida yesterday... And on the other hand, it's not tub Thumpin' because I'm here in Florida! Yeah, writing on the road is not one of my fave things to do, but I'll struggle through it...

    Well... The news that Chris brought to you yesterday, regarding the mini-rally in the currencies, led by the euro climbing back to 1.40, was completely washed out by the time the wheels on his plane touched down here in Orlando yesterday afternoon. Chris had said as he signed off that the dollar was being bought right then, and he was right... And that buying of the dollar lasted all day!...
  • Aussie Jobs Soar!

    In This Issue..

    * A back-n-forth day in currencies...
    * Aussies create 3X more jobs than forecast!
    * Euro to remain alternative reserve currency...
    * Brazilian Sov. Wealth Fund achieves weaker real...

    Good day... And a Tub Thumpin' Thursday to you! The daytime temperature reached 49 yesterday... As our little Christine would say... 'get the sharts out!' HAHAHA!

    Today, we're chock-full-o-stuff to look for, starting with a European Central Bank (ECB) meeting, and going through the morning here in the U.S. there'll be more 'stuff' for us to look for, like Retail Sales, and since it's a Thursday, the Weekly Initial Jobless Claims will also print. The Fed's Beige Book printed yesterday afternoon, and we've got that to discuss this morning too... So, let's get this Tub Thumpin' Thursday going, eh?

    Front and Center this morning... The Australian Jobs report printed yesterday afternoon, and it looks like we'll be able to put another mark in the "pro" column for an Aussie rate hike in Feb... Here's the skinny... Australian employment soared for a 4th straight month, as jobs created were 3 times more than economists estimated! The total jobs created was 35,200, and the jobless rate fell to 5.5% (from 5.6%)...

    ...
  • Risk Returns...

    In This Issue..

    * Currencies maintain their gains...
    * Aussie and real jump higher!
    * U.S. manufacturing is stronger...
    * Following Japan...

    Good day... And a Terrific Tuesday to you! Wow, it's cold here! I had to stop for gas this morning, and had some very bad thoughts about Al Gore, while standing there! That's funny! And, as one of my fave comedians says... 'that's funny, I don't care who you are!' HA

    Hey! I exchanged emails with the Mogambo Guru yesterday... He's such an interesting person! He's enjoying his time away from writing, playing golf, and spending his profits from Gold! If you need a Mogambo fix, you should check out this web site: www.bringbackmogambo.com

    OK... The first trading day of 2010, was interesting, as it certainly looked like risk was back on the table, and the Emerging Markets, and any currency that has some yield, were the beneficiaries of this return to risk taking. It certainly didn't take traders long to get back to dissin' the dollar in favor of these risk assets...I will warn you about this first day of the year move... Let's see if it carries through the rest of the week... If so, then the risk taking bus is about to leave the station, you might just want to be on that bus!

    ...
  • High Yielders Rally...

    In This Issue..

    * Is it Game On for Carry Trades again?
    * A Trade-Free Zone for Southeast Asia!
    * 10-year yield rise will shut down the mortgage rally...
    * A min-rally for the euro this morning...

    Good day... And a Terrific Tuesday to you! I'm already draggin' the line today on the 2nd day back from vacation! UGH! The High Yielders are back to work this week, as the currencies of Australia, South Africa, and Brazil are attempting a come-back VS the dollar. This and more, as we head into the last Tuesday of 2009...

    Well... The last Monday of 2009, was uneventful with the currencies remaining in Tupperware ranges (tight that is!), and with little to show in the way of any measurable appreciation VS the dollar. There was no sign of the U.S. Corporations repatriating their profits yesterday as was rumored... Of course they still have today, tomorrow and Thursday to do so...

    ...