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  • Positive Rate Differentials Finally Come Into Play!

    In This Issue.

    * 10-year Treasury yield drops to 2.42%!

    * Eurozone on holiday today .

    * Aussie CAPEX forward looking positive.

    * U.S. 1st QTR GDP to print negative? .

    ...
  • OOPS, Did We Forget To Include 2 States?

    In This Issue.

    * U.S. Retail Sales to dominate today.

    * Jobless Claims fall below 300K, but wait!.

    * Eurozone moving toward single bond.

    * Sweden's GDP is revised downward .

    ...
  • Consumer Spending?

    In This Issue.

    * U.S. GDP prints at 3.2%...

    * Dollar rallies on GDP data.

    * Eurozone inflation rises 2.4%

    * The CABAL.

    ...
  • 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!

    ...
  • Shifting Focus...

    In This Issue..

    * The dollar rallies again...

    * German economic data is strong!

    * Canadian Retail Sales this morning...

    * Chuck's thoughts on the shift...

    ...
  • German GDP Surges Higher!

    In This Issue..

    * Germany powers Eurozone growth...

    * Retail Sales today...

    * NZ Retail Sales surge!

    * Gold rallies $16!

    ...
  • 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......
  • Eurozone Confidence Rises...

    In This Issue..

    * Currencies rally
    * German unemployment drops...
    * RBNZ hikes rates 25 BPS...
    * CBO & the inconvenient debt...

    Good day... And a Tub Thumpin' Thursday to you! They figured it out! Finally! And in time I might add, given we hook our camper up to my vehicle on Sunday! In the end... The guy at the auto shop said, 'if we would have only listened to what you were telling us'... I said, 'yes, eventually, everyone realizes that!' HAHAHAHAHAHAHA!

    OK... Front and Center this morning, I have to tell you that we've had a HUGE currency rally overnight, and the rally still has legs through the European session, for, I've seen the euro inch higher as I booted up my computer! What's got the currencies, led by the Big Dog, euro, so wound up this morning? Ahhh grasshopper... Come, sit, and let me tell you the story of an ancient warrior, no wait, let me tell you about the rally!...
  • 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....
  • 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)...
  • RBA Raises Rates Again!

    In This Issue..

    * Risk Aversion boosts dollar...
    * U.S. manufacturing is strong...
    * More stimulus? Please say it ain't so Joe!
    * Thoughts from the Big Boss!

    Good day... And a Terrific Tuesday to you! Well, I'm here! Just when you thought I would be gone for the week, and you would get away from my rants, and get the calm Chris Gaffney, the rug gets pulled out from you! I am so bummed! I was told that I could not travel to Cabo for the Sovereign Society's Offshore Advantage Conference, and I was to remain at home, with my leg up, blah, blah, blah... What a crock!

    OK, now that we've got that out of the way... Front and Center this morning, we have a very strong dollar rally going on... It began yesterday mid-morning, when things turned on one thin dime. First, we had the U.S. Manufacturing Index rise in September and the Trading Theme kicked in with the dollar getting sold on the good news for the economy... But then a strange thing happened on the way to the forum. Everyone began to fear what's been going on in Banking... Friday, the 115th bank failed this year, and suddenly, traders, investors, hedge fund dudes, and everyone else, got a case of the flu... Not the 'pandemic' H1N1 flu... This is the 'chicken flu'... Chicken to continue to takes risks in the face of a banking problems... Well, to think of it, maybe, just maybe, it's not the 'chicken flu' but the 'prudent flu'!...
  • Consumer Spending Drives GDP?

    In This Issue..

    * Dollar rebounds after spending fades...
    * Chinese Manufacturing rises...
    * Eurozone Manufacturing rises...
    * Australia as the proxy for global growth...

    Good day... And a Marvelous Monday to you! And Welcome to November! My least liked month! But that's a story for another time! I hope your Halloween was fun! The rain stopped here, there was a near full moon shining in the sky, and the little kids had a blast! And Hey! The Rams won a football game! WOW!

    OK... Well... Friday was a blur to me, as I went to the doctor's office for a test, and then on my way to work, they called my cell and asked me to turn around and go to a lab for more tests... UGH! So, by the time I got to work, Jennifer had set everything up and begun trading for me... Then it was time to go home! So, I'm sitting here this morning, scratching my bald head trying to recall the currency prices on Friday... And Oh yeah! Now I remember! Do you recall the Thursday action after the GDP report showed such strength (whether you believe it or not) and the dollar got sold like pet rocks?...
  • GDP Does Not Compute, Will Robinson!

    In This Issue..

    * Currencies trade in a tight range
    * Pound Sterling, the star performer?
    * Something smells fishy...
    * Do you see trend with Gov. Reports?

    Good day... And a Wonderful Wednesday to you! We had a very tight range trading day yesterday in the currencies, which have left them trading in about the same clothes they were wearing when I signed off yesterday! We've got that to talk about, and... Another $2 Billion for the CARS program has been allocated... What a crock! OK, Chuck, slow down, you don't need to get your blood boiling this quickly, this morning!

    I'm writing from home this morning, as I have a meeting close to our old office, which means its not far from where I live, which is completely different from our current office location, which is, I'll say... Quite a distance... But, hey! I'm not complaining, just giving you the details......
  • Currencies and Commodities Sell Off...

    In This Issue..

    * Overnight markets ambush risk assets...
    * Germany's IFO Business Confidence gains again...
    * A$'s get pounded by opposite thought story...
    * More supply to auction off for the U.S....

    Good day... And a Marvelous Monday to you! I hope your Father's Day weekend was grand... Mine sure was! I'm feeling the affects of the 'grand' weekend this morning too! And... It was the first day of Summer! So we had all that going for us, eh?

    Front and center this morning, I'm as proud as a peacock this morning. I just read an email from good friend, and excellent market analyst, Mary Anne Aden... Mary Anne sent me a note letting me know that the one and only Richard Russell had quoted me in his letter June 10th... She said it went something like...'this is from Chuck Butler's always terrific column...' WOW! Being quoted in Richard Russell's letter is like the top of the list for me!...
  • More Wild Swings!

    In This Issue..

    * Euro goes back and forth over 1.43...
    * Eurozone unemployment rises to 9.2%
    * Australia's GDP surprises!
    * Is it protectionism?

    Good day... And a Wonderful Wednesday to you! I'm draggin' the line today, as I was helping my oldest son, Andrew, with things in his brand, spankin' new house, last night. Congrats to Andrew, for finding a great bargain, with a low, fixed, interest rate!

    OK... Whew! What a day in the currencies yesterday! Another day, and another day of wild swings.. Volatility is the name of the game these days... Watching, for instance, the euro trade down to 1.4220, and then up to 1.4320 and not just on a one-way ticket! Oh No! this is a bounce here a bounce there... But just like it was going from 1.41 to 1.42, it took a few times over the 1.42 figure before it finally stuck, and headed to 1.43... All the other currencies followed in the swings, as usual......