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Have You Seen This?

  • A Full-On Risk Aversion Day

    In This Issue.

    * Risk assets healing is wiped out.

    * Euro and A$ lead currencies lower.

    * Gold can't find a bid.

    * Chinese renminbi takes baby steps lower.

    ...
  • The Dollar Swings A Big Stick!

    In This Issue.

    * Risk assets continue their slide.

    * Fed buys 61% of Treasury issuance!

    * Will Olympics boost sterling?

    * Euro / Swiss "floor" is breached.

    ...
  • FOMC Meeting Minutes Deep Six The Risk Assets.

    In This Issue.

    * Risk assets have a deep slide .

    * Fed gives parameters for additional stimulus.

    * Australia prints a Trade Deficit!

    * Norway considers a cap for euro cross.

    ...
  • China Reduces Treasury Holdings...

    In This Issue..

    * TIC data shows negative flows...

    * Risk is On today...

    * A$ recovers again!

    * German ZEW is disappointing...

    ...
  • Risk Off as US data disappoints…

    In This Issue..

    * Risk is back off on poor US data...
    * Euro pauses at $1.32...
    * China moves by Japan to become #2...
    * Gold moves close to $1,200...

    Good day...and welcome to Wednesday, or as we call it on the desk 'hump day'. Yesterday was another busy day on the desk, it seems like investors are finally figuring out that in spite of the uncertainty in the markets, there are still some good opportunities. But while the flow of trades increased yesterday, the currency markets took a breather from their torrid pace on Monday.

    What movement did occur yesterday was mainly due to a plethora of data releases in the US which mostly disappointed. Personal income and spending in the US were both reported unchanged for the month of June, and May's numbers were revised slightly lower. And while US consumers were feeling the pinch, prices rose a bit more than expected with the PCE Deflator moving 1.4% higher vs. an expected 1.3% increase. So it was no surprise when the ABC Consumer Confidence number came in at -50, again worse than what was expected....
  • 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....