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Daily Pfennig
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  • Another Jobs Jamboree Friday!

    * A zero rate conspiracy? * Weekly jobless claims head toward 500K... * Turning Japanese... I really think so! * Mr. Yen speaks! ** Jobs Jamboree Friday! Good day... And a Happy Friday to one and all! I hope it turns into a Fantastico Friday, because it's not starting out that way. Technical difficulties would be the term used to describe my morning so far... I don't know if the Pfennig will go out on time this morning, as those "technical difficulties" have me working offline right now. But we'll see, eh? Well, it's a Jobs Jamboree Friday too! This should be quite the Jobs Jamboree too, as the ADP Employment report suggested the other day that this data could be even worse than the forecast -200K job losses for October. There have been more job losses in 2008, than you can shake a stick at, but yet the beat goes on for the dollar. Coming To America is the theme playing out in the currencies... Of which, I've explained over and over again, until I sound like a broken record....
  • Change... What Change?

    * Currency Volatility! * Trading Theme creeps back! * ADP indicates a bad Jobs Jamboree... * Putting on my thinking cap... ** Change... What Change? Good day... And a Thunderin' Thursday to you! I say Thunderin' because we're expected to get Thunderstorms and rain today here in the St. Louis area... This will be the first rain we've received in some time, so, while it will bring cooler weather our way, it will still be much needed rain! Well... What a volatile day in the currencies yesterday! WOW! Running up and down the dial, all day long! At one point yesterday morning, the euro looked to be in the driver's seat, ooh, ooh, ooh ooh, driver's seat, yeah... Stop it Chuck, this is supposed to be a serious commentary! Yeah right! Well, at least seriousness is sprinkled in from time to time, eh? Anyway... What I was getting at before slipping off into a song by Sniff-n-The Tears, the euro was moving higher and higher, and was making the 1.29 and 1.30 handles look like picket fences when you pass them going 80 mph!...
  • A Big Data Week!

    * Some healing in the currencies... * U of Mich. Confidence falls... * Unloading Treasuries? * Turning the tables in N.Z.?...
  • Eurozone Inflation Bumps Higher...

    * The euro nears an all-time high! * Deficits DO matter! * Retail Sales not so sweet! * Oil hits $114!...