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  • Today is Tax Day!

    In This Issue..

    * Currencies trade in a tight range...
    * All Risk takers... Out of the pool!
    * Retail Sales really disappoint!
    * A plethora of data reports today...

    Good day... And a Wonderful Wednesday to you! Well... It's Tax Day, and to keep with tradition in the Pfennig... Here are the Beatles...

    (if you drive a car, car;) - I'll tax the street;
    (if you try to sit, sit;) - I'll tax your seat;
    (if you get too cold, cold;) - I'll tax the heat;
    (if you take a walk, walk;) - I'll tax your feet.

    Taxman!

    'Cause I'm the taxman,
    Yeah, I'm the taxman.

    OK... Every year, I bring you a different part of that song, which was so prevalent in my mind as I wrote out my check last night to mail my taxes......
  • Inauguration Day 2009...

    * Rogers and Roach... * Dollar gaps higher! * Ireland's problems... * Bad data... ** Inauguration Day 2009... Good day... Well... And a Terrific Tuesday to you! I got to enjoy a nice restful 3-day weekend. I realize not everyone got yesterday off, so I won't carry on about it. Can you believe it? The St. Louis Cardinals Football Team A.K.A. The Big Red, no wait, Chuck, they left town 20 years ago... OK, the Arizona Cardinals are going to the Super Bowl? When they were here, I never thought I would live to see the day... Front and Center this morning, I have two quotes from people I truly respect... first from Jimmy Rogers... second from Stephen Roach... If I were you, I would be worried about the U.S. dollar,' said Rogers, 66, in a speech at the Asia Financial Forum in Hong Kong today. 'The Americans are printing U.S. dollars. The Americans are going to do whatever they can to revive their economy, even if it means destroying the U.S. dollar.'...
  • A week of interest rate decisions...

    * A week of interest rate decisions... * Pound Sterling drops again... * Brazil and Mexico continue to dominate... * Gold and Silver fall... ** A week of interest rate decisions... Good day...The dollar stayed in the pretty tight range it has established over the weekend, gaining some strength over the weekend after losing some ground on Friday. Should be an exciting week as it is 'Interest Rate Decision' week as a number of central banks will be announcing their new rates. I think the rate announcements will reinforce my feelings that the world's economies are heading down divergent paths, with some economies heading down a recessionary path while others maintaining good growth rates. As expected, the US unemployment rose to the highest level in more than four years as employers cut jobs again in July. But the decrease in payrolls was slightly less than forecast, so some were saying 'it isn't as bad as we thought'....
  • Oil hits $100

    * Oil hits $100 * Pound continues to get sold * Brazil Real at 8 year high * Aussie benefits from rising prices...