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  • OMB Makes New Deficit Forecast...

    In This Issue..

    * The BLS adds jobs...

    * Growing Deficits again...

    * Jim Rogers....

    * A Trade Surplus for Canada...

    Good day... And a Terrific Tuesday to you! Well... I'm here! Lost Wages... No I mean, Las Vegas! It's such a long flight here! UGH! And the plane was packed... Like I said about a month ago, when you take a flight, it sure doesn't seem like people have cut back on spending!

    OK... Well, the currencies took a breather VS the dollar yesterday, and basically traded right around the currency round-up levels most of the day. Overnight, things were pretty quiet too... The markets are trying to figure out which way they are going to go with the dollar... The Deficit is growing, which SHOULD be bad for the dollar, but in recent times, fundamentals get a little hazy at times. So... Let's go to the tape on the Office of Budget Management (OMB)...
  • Riksbank Holds Off On QE...

    In This Issue..

    * Currencies trade in a tight range...
    * German Investor Confidence rises!
    * Thoughts from Jim Rogers...
    * Kohn on the economy...

    Good day... And a Terrific Tuesday to you! I'm staring at all this white space on the Pfennig template, and I absolutely drew a blank... I couldn't think of, or can't think of a thing to say! Whoa there partner! That can't happen! There's got to be something, anything, to talk about... OK! I'm back now, I really have no idea where that was going, it was an out of body experience! HAHAHAHA!

    OK... The currencies traded in a very tight range yesterday, after the dollar had ambushed them on Friday and in the Sunday night trading sessions. It's been a week since we saw currency strength, other than Japanese yen. So, we should be due for a bounce. There continues to be more whispering about the eventual dollar weakness, but for now, it's not enough to get us back to where the dollar should be trading on a fundamentals basis....
  • Euro Rally Fizzles Out...

    * Yen continues to kick! * Jim Rogers disses sterling... * China's 4th QTR GDP... * Singapore announces stimulus... ** Euro Rally Fizzles Out... Good day... And a Tub Thumpin' Thursday to you! A nasty day in the currencies yesterday, except Japan of course. The Dow jumped 290 points yesterday, maybe an Obama bounce? You all know that I subscribe to an Obama bounce for stocks and the dollar in the first part of this year... But given what I know about, and what you now know about, after I drew it all out yesterday, the additions to the deficit that Obama will make, the focus on the fundamentals should return by late spring, early summer... That's my story and I'm stickin' to it! Well... As I said in the opening, the currencies led by the Big Dog, euro, suffered through a nasty trading day, with the euro touching below 1.29 for a good part of the day. The risk takers are nowhere to be found. Where have all the risk takers gone... Long time passing... A Reuters reporter asked me yesterday if I was still of the opinion that the yen had more to rally or was it overbought? I said, that as long as the risk takers are nowhere to be found, yen should continue on its path higher VS the dollar, euro and sterling. The RSI (Relative Strength Index) for yen, shows that it is a tad overbought, but that's not enough to change my mind. Nor is it enough to change the mind of a currency trader at the Bank of New York (BONY), who believes yen may rise to 85 VS the dollar by midyear... Another currency trader at the Royal Bank of Scotland (RBS) believes the Bank of Japan will step in and intervene to stem the yen's rise.......