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  • Canada boosts rates….

    In This Issue..

    * Canada boosts rates...
    * BOE called out for quantitative easing...
    * Indian Rupee to shine...
    * China loosens grip on Hong Kong deposits...

    Good day. We had some pretty unsettled weather come through the area yesterday and last night, with the lightening and thunder producing quite a show. The currency markets, on the other hand, were quite stable. The biggest gainer was the Yen, and the largest loser the Euro; but neither moved more than .65% vs. the US$. Tight ranges across the board for the currency markets....
  • Game off for risk trades...

    In This Issue..

    * Dollar hits 3 month high...
    * Norges bank raises .25%...
    * Fed repeats call to keep rates low...
    * Inflation in India rises...

    Good day...And welcome to Thursday. Chuck started his Christmas vacation, so I have the honor of bringing you the daily missive for the next week or so. The dollar continued to gain strength throughout the day as investors waited on news from the FOMC. Overnight, Greece sustained another rate cut, this time by S&P, which caused investors to move back toward the 'safety' of the US$. The news caused the dollar to rally to a 3 month high vs. the Euro and post gains across the board. The currency markets are becoming a bit volatile again, and much of this volatility can be linked back to the return of a transaction which dominated currency markets over the past decade....
  • A New Year!

    * Currencies range trade... * With a bias to buy dollars... * Recession deepens in Eurozone... * India cuts rates... ** A New Year! Good day... Happy New Year! And a Happy Friday to one and all! A Fantastico Friday, I bet it will be, as most people are still on "holiday". I hope your New Year's celebration went well, mine did, spent with good friends, after a simply scrumptious dinner! Yesterday, we spent the day with friends again, as good friend Rick, had everyone and their brother to his new house to celebrate the New Year... I'm worn out! Good thing this is a quick shot work day, and then onto the weekend, because I'm spent! Well, enough of all that! The currencies traded in a very tight range on Wednesday, and I expect more of that today. The bias has been to buy dollars going into the year-end, and it looks as though that might be the case today, as there's been no data to speak of in the U.S., while the Eurozone printed a very weak manufacturing index report, indicating that the Eurozone's recession is deepening. Of course if we compared apples to apples the bias would be to buy euros, but since there hasn't been any "real" economic data in a couple of days from the U.S. this report from the Eurozone gets all the attention....
  • FOMC Meeting Day!

    * What will the Fed do? * Going into the fryer? * Trichet tries to cool the jets... * India raises rates 50 BPS! ** FOMC Day! Good day... And a what should be "Wild" Wednesday to you! This is the day the Fed's "true" colors come through in my opinion. The markets were all fired up a couple of weeks ago, and the air in their balloon has been slowly let out up to now. But today, we'll see if their balloon get re-inflated or goes "pop"! You see, today is the day the Fed's FOMC meeting adjourns and a rate announcement along with a new bias will be the order of business at the end of the meeting. The Fed Heads normally eat their lunch, which was probably packed in brown bag consisting of a baloney sandwich (since that's what they normally spew is baloney!), some chips and ho-ho's... HAHAHAHAHA!...