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  • You Won't Believe Who Had a Failed Auction!

    In This Issue.

    * A failed auction, and no it wasn't the U.S.!

    * Euro gets slammed.

    * Global growth hopes fade.

    * More Accommodation in store for us?

    ...
  • Greek and Italian...

    In This Issue...

    * More turmoil in Europe.

    * Berlusconi steps down.

    * Risk off type of day.

    * China inflation slows.

    ...
  • Will The CFTC Have Teeth?

    In This Issue.

    * German Officials deep six currency rally.

    * Moody's warns France.

    * German Investor Confidence plunges.

    * Bud Conrad for your enjoyment!

    ...
  • European debt problems, again...

    In This Issue.

    * US dollar ruled the day

    * Jobs showed some improvement

    * Portugal's debt

    * It's all about the interest rates

    ...
  • The Euro stays on the move…

    In This Issue..

    * Euro stays on the move...
    * Soros calls for more stimulus spending...
    * Commodity currencies suffer...
    * Cards sweep the Dodgers...

    Good day... And welcome to another week. Chuck is on his way to Vancouver this morning to speak at the big Agora Finanacial Investment Symposium later this week; so I will have the honor of bringing you the Pfennig over the next few days. But fans of Chuck shouldn't get too upset, as he always sends me Pfennig Pfodder from the road. The euro has certainly been on the move lately, and Chuck left me the following before signing off last week:

    Well... Mid-morning last Friday, we saw the rug pulled from under the euro, after the single unit had recovered to 1.30. Yes, the euro traded at 1.30 on Friday morning, but that was before a Consumer Confidence report printed in the U.S. and showed a HUGE drop!...
  • The Euro Short Squeeze Comes To An End...

    In This Issue..

    * Euro drops 2-cents overnight...
    * The Ring of Fire...
    * Euro to be added to Carry Trade?
    * Data Cupboard has housing data this week...

    Good day... And a Marvelous Monday to you! The last week of May! Can you believe that? This weekend is Memorial Day Weekend, and Summer is here! (I know, not officially, but to me, Memorial Day marks the beginning of Summer, and always has!) Summer heat arrived here this weekend... Man, did that hot sun feel good! It was 60 for a high on Thursday, and 90 yesterday... If you don't mind change, then you'll love St. Louis weather!

    Well, the heat returned to the euro overnight... After enjoying a couple of days in the sun, rising from the ashes due to a short squeeze last week, it appears to me as though that sun bathing for the euro is over... Yes, it looks like the selling will return this week, I mean I may only have one eye, but I can see a reversal when there is one! The euro began the overnight sessions climbing to 1.2587, and then turned on a dime! The single unit is now grading below 1.24... Do you see the reversal?...
  • Holding Off The Wolves...

    In This Issue..

    * Euro rallies on aid package announcement...
    * Scandis outperform on the day...
    * Debt clock / bomb begins to tick away...
    * SEC to look at Moody's...

    Good day... And a Marvelous Monday to you! I hope all you Mothers had a Super Sunday, Mother's Day! It was a beautiful day here, for the most part, albeit more chilly than usual for May. It was also a Super Sunday according to the currency markets, for the Eurozone... So... For more of this historic announcement, read on...

    Well, Front and Center this morning, we're seeing some really big moves by the currencies, up and down... The euro has gapped all the way to 1.3094, and then gapped back down to just over 1.30... But still, doesn't that 1.30 look much better compared to last week, when we actually saw a 1.25 handle briefly? So... What put the tiger in the euro's tank this morning?...