Browse by Tags

Daily Pfennig

Blog Subscription Form

  • Email Notifications
    Go

Archives

  • 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......
  • 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)...
  • Germany & France Exit The Recession...

    In This Issue..

    * Currencies rally...
    * Eurozone growth unexpectedly stronger!
    * FOMC extends QE...
    * Norges is the first!

    Good day... And a Tub Thumpin' Thursday to you! Well... Turn-around Tuesday came 24 hours later this week! HA! Yes, the currencies came back yesterday, but not with a lot of conviction... You see... Stocks rallied, but that doesn't mean what I talked about yesterday still won't happen... Be careful there!

    The euro has received some additional love this morning, as the Eurozone's economic growth printed better than expected, albeit still negative... But... Germany and France showed growth, which I must say is very unexpected! That means that both Germany and France have exited the recession... Well, that is at least for now! For those of you keeping score at home, Eurozone GDP fell -.1%, which is far better than the -.5% that was expected... Oh! And this is for the 2nd QTR... You would have to think that data like this would be very good for the euro, and from the looks of it, that's exactly what's happening!...
  • Trillion Dollar Deficits For Years To Come...

    * CBO forecasts $1.2 Trillion Budget deficit! * And we can expect more! * ADP shows job losses mounting big time! * Brazil's real reverses course... ** Trillion Dollar Deficits For Years To Come... Good day... And a Tub Thumpin' Thursday to you! I had not realized it was Thursday until I began writing this morning! I had been buying breakfast sandwiches for the trading desk on Thursdays, and I'm sure a few people will be wondering what happened when there are no sandwiches this morning... I simply lost track of the days! UGH! Well... There are two major things on the docket for the front and center piece today, both tell us a lot, but I think I'm going to go with the announcement of the Congressional Budget Office (CBO) yesterday afternoon as the lead story, and the ADP jobs report as the second story... So, let's go to the tape!...