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  • The Hits Just Keep Coming...

    In This Issue..

    * Merkel sends the euro lower...
    * Gold Sells off again!
    * Bond Vigilantes...
    * Aussie Confidence falls 7%...

    Good day... And a Wonderful Wednesday to you! The rain stopped, the sun came out, I got to sit outside and listen to the ballgame on the radio, all was right in Chuck's world again yesterday... The rain is supposed to come back tonight though... UGH! My little river town is watching the river rise to the top of the banks now...

    The hit songs just keep coming for the euro... As often as the Beatles put them out from 1963 to 1970, or Elton John put them out in the 70's...

    Well... It's the same for the euro... Just when it looked as though the euro might survive a day without being taken to the woodshed... The Eurozone officials just couldn't stand the prosperity! ( and I use that word loosely!) German Chancellor Angela Merkel made some proposals to gain control over 'destructive' financial markets... Her first move was to place a ban on naked short-selling......
  • FOMC Day – 04/28/2010...

    In This Issue..

    * Euro goes into a tailspin...
    * Portugal gets downgraded...
    * Germans talk with IMF today
    * Aussie CPI indicates rate hike...

    Good day... And a Wonderful Wednesday to you... Today marks 1-week since I've been back writing the Pfennig... I simply love writing the Pfennig each day, and boy did I miss it when I was unable to write... Vacation is one thing, those are well deserved breaks, but to not be able to write is another. So... I'm thankful that I'm able to write again...

    Well... The euro went into a tailspin yesterday, and for once it wasn't Greece so much... This time it was a little Greece, and a lot Portugal. The ratings agencies downgraded Greek debt to junk... And they downgraded Portugal's debt from A- to A-2, with a negative outlook. The fear that Greek's debt problems would spread, is coming to fruition... The euro fell to a 1-year low during the day, and the selling didn't stop in the U.S!...
  • Clairvoyant Pundits?

    In This Issue..

    * Euro backs off yesterday's high...
    * More tough talk from Germany....
    * Brazil talks about weakening real...
    * Waiting on Aussie CPI tonight...

    Good day... And a Terrific Tuesday to you! It's still raining here, but forecast to stop today... The temperature dropped big time too, bringing back cold air... Little Delaney Grace, and I were bummed out that we couldn't go outside yesterday!

    Well... As the day went on yesterday, things got more mixed up... I kept reading news stories stating that the euro was falling VS the dollar, but all the while, the currency screen kept showing the euro rising, actually getting very close to 1.34 on the day...

    So, you can't always take what you hear or read as fact... Or... As Marvin Gaye would said years ago... People say believe half of what you see, Son, and none of what you hear....
  • Germany's Merkel gets her way...

    In This Issue..

    * Germany's Merkel gets her way...
    * Confidence in the US ebbs lower...
    * China to stick to renminbi policy...
    * Gold stops sliding...

    Good day, we had another strong day for the dollar yesterday, with the greenback gaining against all of the majors. But overnight, the Asians and then the Europeans sold the dollar and moved money back into the currencies. So after another rollercoaster ride, we are basically right back where we were at this time yesterday morning. These volatile markets are likely to continue, as investors try to figure out if the global economy will recover or if we will slide back into recession. With all of this uncertainty, you would think investors would be moving into 'hard assets': Gold and Silver. But the markets for these two precious metals have been surprisingly quiet this year. More on the metals a bit later, first I will try to figure out these currency markets....
  • Bailout Package For Greece Put On Hold...

    In This Issue..

    * Euro rally fades on latest Greek development...
    * Brazilian real rallies...
    * Canadian loonie ratchets higher...
    * Another Geithner smoking gun?

    Good day... And a Tub Thumpin' Thursday to you! It's Tub Thumpin' because... I say so! Every day's a new day... And for someone like me that had two strikes called on me before I knew the pitch was even coming... Every day is special!

    I want to thank every one that sent along a note of good wishes, and advice to tell the people that decide that email is a good way to ruin someone's day, good riddance... I'll have more on this in the Big Finish...

    But what a day the currencies had yesterday! The euro gained ground all the way back to 1.3730 (but saw some profit taking at the end of the day) and all the other currencies followed in step... Now... There's two ways to look at this... Either the euro is like a star that's getting ready to burn out... (it always shines brightest before it burns out), or... It's like a star that had been covered up by another planet, and is coming back into view!...
  • German Investor Confidence Declines...

    In This Issue..

    * Risk makes a comeback... At least today!
    * ZEW / German Confidence slips 5th consecutive month...
    * Something scary at the Treasury auction...
    * Popping the ego bubble...

    Good day... And a Terrific Tuesday to you! Thanks to all who sent along their thanks for my Valentine's Day Special Pfennig... It's not what I wanted to send you, but what I had to do, to properly inform you of what's going on... You know, I've been accused by more than a few people over the years as being a cheerleader for the currencies, and doing nothing but reporting bad news for the dollar to promote the currency business here at EverBank.

    You know... If all I ever report is bad news, then maybe that's all there is! But... I've fought those things for years, and this is but one more time, that I've warned about something regarding currency values......
  • China Puts The Brakes On!

    In This Issue..

    * Risk Aversion sets in, on China's moves...
    * Now, we know what's going on with the TIC's!
    * Germany to step in to save Greece?
    * Honkers losing value VS the dollar...


    Good day... And a Wonderful Wednesday to you! As I understand it, we are in for some Monsoon like rain today and the next couple of days... Living in a little river town, and having a creek at the back of my property, lends itself to cause me to worry when I hear things like Monsoon like rains expected... But... It's mother nature, I can't do a thing to stop it, so, I carry on... But worrying while I carry on!

    The rain is falling on the currencies too... The dollar has rebounded very quickly the past few days, and there are no roadblocks right now. The risk takers in the markets are running for safety again, sent running by China's decision to curb lending and attempt to slow growth before their economy overheats......