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  • Euro Falls Through 200-Day Moving Avg.

    In This Issue.

    * Euro falls on Contagion risks.

    * Commodity currencies rebound.

    * Brazilian inflation soars higher!

    * Oil prices on the rise (where's the deflation?)

  • Gold Soars To An All-Time High!

    In This Issue..

    * It was all about Gold yesterday!
    * Commodity Currencies take the lead today...
    * The story behind the euro's non-move...
    * Budget data prints today...

    Good day... And a Wonderful Wednesday to you! What a day for Gold yesterday! WOW! In case you were trapped in a cave and didn't hear the news... Gold, which I said yesterday morning looked like it was going to take out its all-time high, did take out its all-time high, and not just take it out! Gold pushed past the all-time high of $1,033.90, and didn't stop until it was trading $1,047 and change! WOW! No check that... Double WOW!

    The Reserve Bank of Australia's (RBA) rate hike the previous night, opened the door to this run by Gold, as the Gold Bugs all came out and bought the preferred investment to counter soaring inflation... You see, if the RBA is raising rates, when most every other Central Bank is stuck in the mud with near zero rates, the RBA must see something, eh?...
  • So Far... It's A Turn Around Tuesday!

    In This Issue..

    * Currencies bounce back...
    * Commodities and Commodity Currencies get hit hard!
    * China's recovery a myth?
    * Devaluation in the dollar's future?

    Good day... And a Terrific Tuesday to you! It's too hot in the hot tub! You can't make me get in the hot tub! Ahhh... When I walk outside and my eye glasses fog up from the heat and humidity, I think of that old Saturday Night skit, with Eddie Murphy playing James Brown!

    OK... Well, yesterday we saw the currencies stop the bleeding from the overnight sell off, and although they range traded on the day, the bias was to sell dollars once again. That bias has played through on our Turn Around Tuesday theme, and the currencies are higher today than yesterday, but lower than they were 3-weeks ago week ago. Yes, the month of June has not been kind to the currencies, as some of the euphoria that was going on from March thru May, regarding the global economic recovery is being thought about again, and this time, not with the same rose colored glasses......