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  • It's A Risk Off Friday...

    In This Issue..

    * It's a Risk Off day!

    * Commodity Currencies get rocked...

    * Audit the Fed Bill moves along...

    * Just keep spending money we don't have!

    Good day... And a Happy Friday to one and all! A Fantastico Friday in my books, as the people at the Retina Institute told me yesterday that the fluid on my eye was drying up, and almost completely gone. I told them I had not noticed any improvement in vision, and they said, 'at least it hasn't gotten worse!' And for that, I am quite thankful! So... With that news, I head into today, and believe it to be a Fantastico Friday!

    Well... In my hours on hours of waiting for the next person to look at my eye yesterday, (I think it was "train the eye doctor day" on Chuck's eye) I kept checking the currencies, and noticed that as the day went on, the non-dollar currencies were stronger, led by the Big Dog, euro... But then late last night, and I mean late last night, I checked them, and those gains had been wiped out...

    ...
  • More Stimulus On The Way?

    In This Issue..

    * Euro leads currencies higher...
    * Commodities rally back on FOMC thoughts...
    * FOMC meeting today...
    * NZ Consumer Confidence on the rise...

    Good day... And a Wonderful Wednesday to you! Well... Yesterday, the title of The Pfennig was: So Far... It's A Turn Around Tuesday! And... That theme played well throughout the day, and by day's end, it had been quite the Turn Around Tuesday! Now, we have to see what's in store for us today, as the last couple of weeks have seen the Wednesday trading quite the opposite of Tuesday's trading! Strange trading pattern don't you agree?

    Overnight, the euro climbed as high as 1.4140, only to sit at the cusp of 1.41 as I begin to write this morning. Of course 1.41 certainly looks a lot different from the 1.35-1.40 range we've seen in recent days. But then, we've seen these probes above 1.40 before only end with the euro falling back to the 1.35-1.40 range again......