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Silence Is Always Golden...

In This Issue..

* It's a Risk On day!
* Commodity Currencies have the "stuff"!
* Gold's one-day window slams shut!
* RBA to not wait 2 months to hike rates!

Good day... And a Wonderful Wednesday to you! We're stuck in the mud with the rain again, but according to the weather people it should end tomorrow... Geez Louise, I guess it could be snow, which would have crippled this city by now!

Well... The currencies gave back all that ground they gained the day before on Mr. Toad's Wild Ride, yesterday... But, have turned around this morning in the European session as Eurozone stocks are up, and whenever equities trade with some zip in their step, it has been good for the Big Dog, euro......

Published 11-18-2009 2:17 PM by Chuck Butler

Filed under: Employment, Commodities, Gold, Euro, Eurozone, Reserve Bank of Australia, Budget Deficit

We Won't Get Fooled Again!

In This Issue..

* Bernanke digs out some old words...
* Risk on, Risk off...
* Brazil to have a different meeting outcome?
* Winter Olympics are in Canada...

Good day... And a Terrific Tuesday to you! What a ride on Mr. Toad (Bernanke's) Wild Ride yesterday for the currencies! Gold? Well, at one point in the day, Gold had shot up $24 on the day! It topped out at $1,142... The shiny metal then gave some back on profit taking, but Whew! Gold holders have got to love it! Those that keep waiting for a pull-back... Well, they might be still waiting when the cows come home...

Yesterday, we had a couple of Fed Heads talking, but the Big Kahuna, stood out, and moved the markets with his statements... Here's the skinny......

Published 11-17-2009 10:26 AM by Chuck Butler

Filed under: Dollar, China, Gold, Euro, Producer Price Index, Ben Bernanke, Canada, GDP, Industrial Production, Olympics, Brazil

Japan Posts a 4.8% GDP!

In This Issue..

* Risk Aversion goes away mad...
* China just says 'no' to currency flexibility...
* Maybe a return to fundamentals?
* Gold continues to soar!

Good day... And a Marvelous Monday to you! It's raining here, so it's one of those Rainy Days and Mondays... But I won't let it get me down, as opposed to the song! I got a chance to check out our new digs in the building next door to us here... Very nice! And... A long way from that small office I sat in on Olive St. a decade ago, when we started EverBank... To think back 10 years ago, and where we are today... Simply amazing!

OK... As I told you Friday, the President was in China this past weekend, trying his best to get the Chinese to agree to a greater flexibility for the renminbi... Well... There were a few stories this past weekend that hinted about the Chinese agreeing to do such... But I prefer to go with this story that appeared on Reuters last night... 'The Chinese government has sought to distance itself from speculation surrounding a central bank statement earlier this week that was interpreted as a shift in currency policy towards a stronger yuan. However, a report on Saturday by Xinhua, the state-controlled Chinese news agency said that the government would not allow the currency to gain against the dollar in the short term.'

...

Published 11-16-2009 9:19 AM by Chuck Butler

Filed under: Australia, China, Gold, Euro, Japan, GDP, Renminbi, Risk Aversion

Germany & France Post 3rd QTR Growth...

In This Issue..

* Risk Aversion fuels dollar rally yesterday...
* Eurozone growth may stop the Risk Aversion...
* Budget Deficit is a record $176.4 Billion!
* Euro, Swiss, Aussie, Norway, all cheaper today!

Good day... And a Happy Friday to one and all! Let's try to make this a Fantastico Friday as well! The Risk Aversion that was creeping into the currency markets yesterday really took hold in the U.S. trading session, which meant the dollar was being bought once more, along with Japanese yen...

It just makes me laugh out loud, when I write that the 'safe haven currencies' during Risk Aversion trading are the dollar and yen... These two countries have debt up to their eyeballs, pay no interest on their deposits, and have a leadership deficiency... (ok, before every begins to think that I'm ripping the president again, I'm not... I'm talking about the Central Bank, and lawmakers of each country)...

Published 11-13-2009 9:31 AM by Chuck Butler

Filed under: Employment, China, Gold, Euro, Consumer Confidence, Norwegian Krone, GDP, Eurozone, Germany, Risk Aversion, Budget Deficit

German Business Confidence Slides...

In This Issue..

* Currencies trade in a tight range...
* $81 Billion in Treasury auctions this week!
* Fitch fans the flames of a fire in the U.K....
* Aussie Business Confidence rises...

Good day... And a Terrific Tuesday to you! I didn't start out this Tuesday on the right foot, and now I'm really running late! Oh well...

The non-dollar currencies didn't move much yesterday, the euro bumped up and down against the 1.50 figure, while the A$ did the same against 93-cents, and Swiss against parity... So the currencies are trading in the same clothes they went to bed in last night!

The Big Dog, euro, did attempt to move stronger into the 1.50 level, but that move was thwarted by a poor reading of German Investor Confidence this morning. German Investor Confidence as measured by the think tank ZEW, reported that their index had fallen to 51.1 this month VS the 56 in October. Most of those Germans surveyed said that they expect the economic recovery to be slow once the Gov't removes the stimulus in the economy. So... Previous euphoria is being replaced by realism... But that's OK... Better to have a reality grip on things than to go around thinking that everything is seashells and balloons......

Published 11-10-2009 9:18 AM by Chuck Butler

Filed under: Australia, Gold, Euro, Canada, Germany, Treasuries, UK, Fitch

3rd QTR GDP Is Strong!

In This Issue..

* Dollar gets sold after GDP report
* High yielders get bought!
* German Retail Sales decline...
* Real has wild swings!

Good day... And a Happy Friday to one and all! I can't believe how hard it rained here yesterday... Unbelievable! And me, with my cane, and not able to run, was stuck in it going from the car... Absolutely soaked! If I were a kid, I would have thought that to be fun! But, I'm not... It's still raining this morning too! UGH! Let's hope it stops in time for the Trick-or-Treaters!

OK... Well the rain fell on the dollar's parade yesterday too! And, just like I thought it would do... The dollar got sold like funnel cakes at a state fair, once the U.S. 3rd QTR GDP report printed... The dollar rally was stopped in its tracks, which meant that the "trading theme" that rewards the dollar when things look bad in the U.S. and punishes it when things look good, which is completely opposite of what it should do fundamental wise, was still in place!...

Published 10-30-2009 9:40 AM by Chuck Butler

Filed under: Dollar, Brazilian Real, Euro, The Fed, GDP, Consumer Spending, Timothy Geithner

A Loss Of Confidence In the U.S.?

In This Issue..

* Non-dollar currencies rally...
* Euros and Aussie dollars lead the pack...
* $1.42 Trillion Deficit for 2009!
* TIC's data gets ignored again!

Good day... And a Marvelous Monday to you! Another 'lost' weekend for our college and professional football teams! UGH! The sun finally came out this weekend. YAHOO! It felt so good to be in the sun again... The TICs data was something that needed to be dealt with on Friday, but once again the markets ignored it... I'm telling you, this smells like, walks like, and talks like a gag order... OK... Let's get going this Marvelous Monday!

The non-dollar currencies all drifted on Friday, with the dollar seeing a bit of buying... But that's all been thrown to the curb this morning, as the non-dollar currencies, for the most part, are in rally mode VS the dollar.

...

Published 10-19-2009 9:53 AM by Chuck Butler

Filed under: Australia, Currencies, Euro, Alan Greenspan, European Central Bank, TIC Flow, Bank of Canada, Budget Deficit

RBA's Stevens Turns On The Green Light!

In This Issue..

* The dollar bounces back a bit...
* Euro retreats from highs...
* Is the economic recovery for real?
* Ignored data...

Good day... And a Happy Friday to one and all! I believe it will be a Fantastico Friday as well, because when I go in my car this morning to come to work, the radio was playing, 'It's a Beautiful Morning'... It had to be a sign, right? I certainly hope so any way!

Well, I'm back! I have to say that I've never been to the mountains of North Georgia before, and they are beautiful... Well, most of the parts of this great country are, when I come to think of it! Well, it was nice to walk in the door yesterday and sit down, close my eyes, and get work off my brain!...

Published 10-16-2009 10:21 AM by Chuck Butler

Filed under: Dollar, Oil, Euro, Consumer Confidence, European Central Bank, Canada, Trichet, Industrial Production, Reserve Bank of Australia, Capacity Utilization

The dollar drifts lower in thin trading..

In This Issue..

* US$ drifts lower in light trading...
* Euro/Yen benefit from reserve diversification...
* Pound sterling continues to drop...
* New Zealand retail sales pick up.....

Good day... and happy Tuesday morning to everyone. As Chuck told everyone yesterday, he is heading down south to a corporate meeting, so you will be stuck with me for the remainder of the week. Yesterday was an official 'bank holiday' but apparently most of the WorldMarkets customers were unaware, as our phones were surprisingly busy. Trading in the currency markets was substantially lighter than usual, and with no data releases in the US, the dollar drifted sideways throughout the day. The European currencies were slightly higher vs. the US$, the Asian currencies were lower vs. the US$, and the commodity based currencies were mixed.

...

Published 10-13-2009 9:39 AM by Chuck Butler

Filed under: Dollar, Euro, New Zealand, Yen, Pound

Gold Soars To An All-Time High!

In This Issue..

* It was all about Gold yesterday!
* Commodity Currencies take the lead today...
* The story behind the euro's non-move...
* Budget data prints today...

Good day... And a Wonderful Wednesday to you! What a day for Gold yesterday! WOW! In case you were trapped in a cave and didn't hear the news... Gold, which I said yesterday morning looked like it was going to take out its all-time high, did take out its all-time high, and not just take it out! Gold pushed past the all-time high of $1,033.90, and didn't stop until it was trading $1,047 and change! WOW! No check that... Double WOW!

The Reserve Bank of Australia's (RBA) rate hike the previous night, opened the door to this run by Gold, as the Gold Bugs all came out and bought the preferred investment to counter soaring inflation... You see, if the RBA is raising rates, when most every other Central Bank is stuck in the mud with near zero rates, the RBA must see something, eh?...

Published 10-07-2009 9:46 AM by Chuck Butler

Filed under: Inflation, Silver, Gold, Euro, European Central Bank, Interest Rates, Budget Deficit, Commodity Currencies

The Euro Bounces...

In This Issue..

* Profit taking brings currencies back..
* A Love/ Hate relationship with kiwi...
* Stimulus isn't the same everywhere!
* AA drops a bomb on us in St. Louis!

Good day... Ahoy Mates! And a Happy Friday to one and all! Tomorrow is 'Talk Like a Pirate Day' officially... But, since we all like Pirates (not today's so-called Pirates), we decided that we would celebrate it today! Get your eye patches out! We're that kind of fun group, eh? So... If you want to play along, you can go to this website and get your Pirate name! http://www.piratename.net/

OK... Well, it is Friday, and with that comes the end of a very long week for yours truly, and one that I hope ends early today, so I can go home and get my feet up! Until then though, you have me here to swab the decks, and hoist the sails!

...

Published 09-18-2009 9:19 AM by Chuck Butler

Filed under: Currencies, China, Kiwi, Gold, Euro, New Zealand, American Airlines

Retail Sales Soar!

In This Issue..

* Currencies rally on Retail Sales!
* China likes investments in Canada...
* Big Ben the 'inflation fighter'...
* Gold climbs to $1,018!

Good day... And a Wonderful Wednesday to you! Good news for me this morning, the pain in my left knee has subsided... Now, If I could just get that swelling to go down, I'd be in tall cotton! This has been quite the ordeal on the old Pfennig writer, and one that I will be glad to put in the rear view mirror!

Well... When I turned on the currency screens this morning, the euro was trading with a 1.47 handle! WOW! It just skipped to my Lou right through the 1.46 handle, eh? It began yesterday afternoon, the dollar was getting sold on the news of a strong Retail Sales figure, more on that in a minute, and the euro was edging up the 1.46 ladder... The move to get it past 1.47 came in the overnight markets... Now, having gotten you all lathered up about 1.47, I have to say that since I turned on the currency screens, the euro has lost ground back to 1.4688, but still... That's quite an impressive move from yesterday morning, eh?

...

Published 09-16-2009 9:20 AM by Chuck Butler

Filed under: Australia, Currencies, Inflation, China, Gold, Euro, Ben Bernanke, Canada, Retail Sales, TIC Flow

Cautiously Positive?

In This Issue..

* Euro & yen add to gains...
* RBNZ disappoints...
* Foreclosures continue to stack up!
* BOE & BOC meet today...

Good day... And a Thrillin' Thursday to you! Ahhh! A change! Just thought that with the thrilling victories my beloved Cardinals have been accumulating, that Thrillin' would be a nice change to our Thursday lineup!

Front and Center this morning... The currencies added to their gains this week yesterday, albeit small gains, but gains nonetheless. The Fed's Beige Book was 'cautiously positive'... And... Overnight, the Reserve Bank of New Zealand met, and left rates unchanged as suspected... This and more as we begin our Thrillin' Thursday!...

Published 09-10-2009 9:12 AM by Chuck Butler

Filed under: Employment, Euro, Yen, Bank of England, Bank of Canada, Foreclosures, Reserve Bank of New Zealand, Real Estate

Currencies Hold Their Gains...

In This Issue..

* Consumer Borrowing Collapses...
* What's up with sterling?
* Option ARMs get ready to reset...
* Gold falls back to below $1,000...

Good day... And a Wonderful Wednesday to you! Well... The currencies, for the most part, kept the heat on the dollar throughout the day and in the overnight markets. The euro, did rise to 1.45 and change yesterday, while it is hovering right at that figure this morning, so it did give a little bit back.

There were no big announcements last night like we saw on Monday, so the currencies didn't have anything to push them further. In fact, there may be a 'letting the dust settle' period of time, with the Big Dog, euro, before we see any further advancement, given the euro's huge gains yesterday......

Published 09-09-2009 10:08 AM by Chuck Butler

Filed under: Gold, Euro, FOMC, Debt, Budget Deficit, Governement Spending, ARMs, Consumer Borrowing

Time To Remove Stimulus?

In This Issue..

* Chinese stocks rise 5%!
* Risk Assets follow!
* OECD forecasts faster global growth...
* Gold & Silver kicking sand again!

Good day... And a Tub Thumpin' Thursday to you! Let's hope it remains a Tub Thumpin' Thursday later today, as I head downtown to watch my beloved Cardinals play a day game! For those of you who are baseball fans, you know what I mean when I carry on about how baseball should only be played during the day!

OK... Before I get to the currencies, economies and the dolts in the world, I wanted to briefly talk about the SEC, who made an announcement yesterday that they had done an investigation of the Madoff audits, and did not find any fraud... Just mistakes... Really? Mistakes? That's what they call them? Even Bernie Madoff himself says that he was "astonished" that the SEC failed to shut him down after interviewing him in 2006!

...

Published 09-03-2009 10:40 AM by Chuck Butler

Filed under: China, Silver, Gold, Euro, Trichet, Sweden, Riksbank, Timothy Geithner, Risk Assets, OECD

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