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More Dollar Strength!

* Trichet's words sink the euro rally... * A New Conspiracy theory... * Japanese yen continues to rally! * An Announcement... ** More Dollar Strength! Good day... And a Happy Friday to one and all! It has not started out as a Fantastico Friday, just a Fun Friday... No wait! Just because the dollar is running around the end with the ball, and the currencies can't catch up with the greenback, is no reason to allow it to filter through to my feelings about each and every day! That's right! I'm feeling like there's a ton of weight on my shoulders right now, with this dollar strength, and everyone jumping ship... But, I promised myself over a year ago that if I was able to fight cancer and come out on top, that I would celebrate each day... And that's what I try to do! So... I'll make it a Fantastico Friday after all! The euro's two-day rally VS the dollar got stuffed in a box and shipped to sea yesterday. The single unit looked as though it would add to the rally that took it above 1.45 but as I was signing off yesterday the euro was giving back its gains VS the dollar... And soon, it would give back more than the two-day rally's gains....

Published Fri, Sep 09 2008 11:54 AM by Chuck Butler

Filed under: Currencies, Dollar, Home Sales, Euro, European Central Bank, Trichet, GDP, Jobs

Currencies Rally On Bad U.S. Data...

* Dollar rally is stopped! * FOMC meeting minutes... * Housing data you won't see on TV! * Sweden to sell Gold... ** Currencies Rally On Bad U.S. Data... Good day... And a Wonderful Wednesday to you! I'm back. I just couldn't answer the bell yesterday morning, as the night before was simply rough on your old Pfennig writer. I'm in my last week of treatment and it has been a tough row to hoe, and I feel bad that I was not able to stiffen the back and make it through the day. But, no biggie, I've got great people here to take care of things when I'm gone... When I finally dragged myself out of bed yesterday, I saw that the dollar was taking liberties with the euro and other currencies once again. It was another game of "your economy is worse than mine", as German Business Confidence took a ride on the slippery slope down. You should have seen the "bandwagon jumpers" falling all over themselves to write about how cool it was to own the dollar. I chuckled, no big laugh as that might upset my stomach! But, their claim to be cool, was quickly squashed like a bug, when the housing numbers printed, and then later in the day, with the latest FOMC meeting minutes... More on this in a minute.......

Published Wed, Aug 08 2008 9:02 AM by Chuck Butler

Filed under: Currencies, Dollar, Gold, Home Sales, Euro, European Central Bank, Sweden, FOMC

A Downward Revision of Eurozone Growth...

* Euro rally ends quickly! * Housing Data continues to be bad... * OECD wants Norway's rates increased... * The Aden Sisters on a Wednesday! ** A Downward Revision of Eurozone Growth... Good day... And a Wonderful Wednesday to you! I'm sitting here wondering what to write about this morning, and on the radio is a classic song by Led Zeppelin, Dazed and Confused... Seems quite apropos, eh? I say this because that's what I've been for the last month, as the dollar got up from its death bed, and there's not a sign of any medicine that was prescribed had been taken! Oh well, why would I think that things would change for me at this stage of my life, I've been dazed and confused for a long time! HA! I'm sure that's what a lot of people are saying right now anyway... The euro rebounded over 1-cent yesterday, but that rebound has been wiped out completely in the overnight markets... There's just no lasting power in any currency rally VS the dollar right now. And as I keep going saying, this is reminding me so much of 2005 when the dollar covered up its pimples and posed for GQ, only to see the pimples pop through the makeup by year-end....

Published Wed, Aug 08 2008 9:00 AM by Chuck Butler

Filed under: Currencies, Dollar, China, Gold, Euro, Japan, Norway, Home Prices

More Losses!

* Currency rally runs into profit taking... * Mortgage related losses continue to mount... * Taking risk... Just seems stupid right now... * Canadian Retail Sales post a gain... ** More Losses! Good day... And a Terrific Tuesday to you! It was a long day of travel for yours truly, who saw two gate changes and two plane changes along with 1.5 hours of delay... I ran into a reader on the plane, that said, Hey! Aren't you Chuck Butler? I could see all the people sitting around me thinking that they should know Chuck Butler, he must be a celebrity! HA! Little did they know, it's just little Ole me, the Pfennig writer! Well... The currencies had a good day VS the dollar, as the euro was able to gain well into the 1.59 handle... Part of my presentation to the main stage crowd tomorrow (900+) is going to ask the question... Where are all those people that claimed the weak dollar trend was over last month when the Fed stated they were going to be inflation fighters? They are no-where to be found! That's where! I recall that even a big name guy at the Royal Bank of Canada, flatly stated the weak dollar trend was over... Where have all the naysayers gone? Long time passing......

Published Tue, Jul 07 2008 10:11 AM by Chuck Butler

Filed under: Australia, Currencies, Dollar, Oil, Euro, Canada, The Fed, Washington Mutual, Wachovia

Credit Woes Sink The Dollar!

* No Bailout for Freddie and Fannie... * The euro reaches a new record high! * More risk today... * Aussie hits 25-year high! ** Credit Woes Sink The Dollar! Good day... And a Tip Top Tuesday to you! I thought I would change it up there today... Well... Overnight, we've seen the euro reach a new record high VS the dollar, only to give some of that ground gained back on some weak German data. There was more news yesterday regarding the Freddie and Fannie saga, but I've grown tired of that talk, we dance now! Seriously, though, I have grown tired of all that Freddie and Fannie talk, that I'm going to go through an exercise explaining what GSE's are and then go on with life... So... The euro reached a new record high overnight of 1.6038! WOW! This was reached based on the fears that credit problems in the U.S. are going to put the kyboshes on what little economic growth we now have. But the shine on the euro was rubbed out by a very weak ZEW... German Investor Confidence as measured by the think tank, ZEW, fell to a record low this month on the surging inflation problems, and rising interest rates. So for now, the euro is back below 1.60, but hear me now and listen to me later... This ZEW will soon be in the rear view mirror, and the euro won't have that albatross around its neck as it revisits its overnight high....

Published Tue, Jul 07 2008 9:37 AM by Chuck Butler

Filed under: Australia, Currencies, Dollar, Bailout, Euro, Ben Bernanke, Fannie Mae, Freddie Mac, Credit Crisis