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  • The End Of An Era.

    In This Issue.

    * Currency rally fades in overnight trading.

    * Eurozone prints contrasting data.

    * RBI reduces reserve ratios.

    * Ted Butler on Gold & Silver.

    ...
  • Waiting For Downgrades.

    In This Issue.

    * Euro breaks range to the downside.

    * Moodys warns the Eurozone.

    * Comparing the U.S. & Eurozone debts.

    * The Treasury Bubble.

    ...
  • Japan Intervenes.

    In This Issue.

    * euro gets caught in yen /dollar crosses.

    * Central Bank meetings this week.

    * China balks at helping Eurozone.

    * Cardinals Win 2011 World Series!

    ...
  • Where's The Plan?

    In This Issue.

    * 4-day euro rally gets stopped this morning.

    * Eurozone Crisis meeting asks for an extension..

    * Chinese manufacturing rebounds this month!

    * Thoughts on Gold.

    ...
  • Where's The Economic Growth We Were Promised?

    In This Issue.

    * Bickering led to euro weakness yesterday

    * Eurozone Crisis meeting this weekend

    * Swiss francs get back on the rally tracks.

    * Bernanke to help with housing market?

    ...
  • Dollar Positions Get Crushed!

    In This Issue.

    * Overbought dollar gets sold!

    * Euro climbs to 1.38!

    * Eurozone Industrial Production soars!

    * U. S. and China. here we go!

    ...
  • A 2-year High For Aussie Dollars!

    In This Issue..

    * Euro rebounds from Friday sell-off...

    * Banging on China again...

    * Will FOMC announce more QE?

    * Deficit spending continues...

    ...
  • 2nd QTR GDP Today...

    In This Issue..

    * A flat trading day in currencies...

    * 473,000 newly unemployed last week...

    * Kan ready to take "bold action"...

    * Ludwig von Mises on a Friday!

    ...
  • 13% increase in mortgage applications, but no help for housing.. .

    In This Issue..

    * Double digit increase in mortgage apps, but no impact on housing...

    * Euro is in a rut...

    * Pound surges higher...

    * Japan complains about weaker currencies...

    ...
  • The Flight To Safety Returns...

    In This Issue..

    * Dollar, yen, francs & Gold rally...

    * Yen hits 15-year high VS dollar...

    * Will the BOJ intervene?

    * Aussie job data gets revised down...

    And Now... Today's Pfennig!

    ...
  • Chuck asks 'Where's the money??'

    In This Issue..

    * Chuck's parting shots...
    * Greenspan still demands the spotlight...
    * Asian rally helps the kiwi and Aussie dollar...
    * Gold pauses its recent rally.

    Good day. Chuck is headed down to Springfield with his family for their annual summer camping adventure, so he handed off the responsibilities of the Pfennig to me. But as usual Chuck left me a good bit of information before heading out the door; and here it is:

    Well, folks... Just some parting shots for you before I headed out the door on Friday...

    Right after I hit 'send' on Friday, and had told you the euro has sold off 1-cent, and drug the other currencies (except yen and francs) with it... The euro turned around, and headed north! I felt as though I had sent out some bad information! But, there's always a time to cut off, and when I did, the selling was going on......
  • Risk On, Risk Off...

    In This Issue..

    * Bundesbank hurts euro...
    * A$ is best performer overnight...
    * Is Gold a euro replacement?
    * 10-year Treasury yields soar higher...

    Good day... And a Tub Thumpin' Thursday to you! It's Tub Thumpin' because I got the go-ahead for the next step to replace my eye with a prosthesis that looks like an eye... Just looked up to see Robin Meade back from vacation, so it's a double Tub Thumpin' Thursday now!

    OK... Recall yesterday's talk about the trading pattern that had existed for 4 consecutive days? Well, that was throw to the roadside yesterday, as the U.S. session went back to beating on the euro, and other currencies......
  • The Twilight Zone...

    In This Issue..

    * Euro bounces off 4-year low...
    * Gold Sells off again!
    * Greek receives first installment...
    * RBA to take a summer vacation...

    Good day... And a Terrific Tuesday to you! I think the rain has stopped, for now at least! I feel like someone picked up St. Louis, and moved it to Seattle! Hey! It rains there a lot, but they know it is going to do so! Me? I begin to feel like I have cabin fever, not having the sunshine... So... Hopefully today, eh?

    OK... The price action in the euro yesterday, which has dominated the currency trading for a month now, was something out of the Twilight Zone... Help I'm slipping into the Twilight Zone, The place is a madhouse, feels like being cloned... Yes... That Twilight Zone... While the other currencies from Norway and Australia, were getting hammered, for no apparent reason I must add, the euro rallied in the early morning to near 1.24... Then turned on a dime, and by the time my turkey sandwich on wheat arrived at my desk, the single unit was back to trading below 1.23... But... Then, by the time I packed up to go home, the euro was back to 1.24... The strange thing about this swing, was that there was nothing, nada, zero, zilch, a big goose egg of news, data, or official slant to trade off of......
  • Gold Breaks Through!

    In This Issue..

    * Euro trades in tight range
    * Gold hits new all-time high...
    * Audit The Fed gets gutted...
    * Budget cuts all around, but not here!

    Good day... And a Wonderful Wednesday to you! Some wild storms ripped through our area overnight and left a mess! I had to change my route to work 2 times, due to road closures. But, just like the Pony Express... I made it here, and so the Pfennig will go out!

    Well... Yesterday was a change in the weather for the currencies, as we saw a very tight trading range with no wild swings up or down, which has been the routine for a month now. The euro traded in a range of 1.2675 to 1.2740, going back and forth all day... This morning, as I turn on the screens, the euro is at the bottom of that range....
  • The Wolves Are Always At The Door!

    In This Issue..

    * Euro rally falls on its face!
    * Dollars, yen, and Gold highlight the day...
    * More on the ratings agencies...
    * What, me worry about inflation?

    Good day... And a Terrific Tuesday to you! It's rainy and cold here in St. Louis... Not exactly 'May weather'... But then, you've got to experience this kind of weather, to enjoy the blue umbrella skies, and sunshine, warm days!

    Well... The sunshine for the euro only lasted about 12 hours... Yesterday, when I signed off, I said that the euro had come back from 1.3094 to 1.30, and we would need to see what the NY boys and girls thought of the aid package to get a clear direction for the euro... Well, the NY boys and girls didn't think much of the aid package, and their feelings were soon to show up in the currency trading... Almost all of the euro's gains, and those of the other currencies affected by the Eurozone problems, were wiped out... Completely! The euro is now trading lower than it was when we left for happy hour on Friday afternoon! UGH! But... Shoot Rudy, I said yesterday, that while I liked the package for its calming affect on the markets, I didn't like it for the debt... Well, the calming affect is gone, so we're left with debt......
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