Browse by Tags

Daily Pfennig

Blog Subscription Form

  • Email Notifications
    Go

Archives

  • Employment Disappoints...

    In This Issue..

    * Fundamentals creep back into markets...
    * Dollar gets sold...
    * RBA keeps rates unchanged...
    * U.K. makes right moves...

    Good day... And a Terrific Tuesday to you! Did you have a grand Independence Day Holiday Weekend? I sure did! I got to see two ballgames, one very bad, one good. Spend time with the kids, friends, and relax a little... WOW! Now that I think of it, the weekend was more grand than I first thought!

    The currencies traded yesterday, but in very tight ranges, as the U.S. was on holiday. This morning, the bias is to sell dollars, much like it was on Friday before the liquidity of Europe went to the pubs... Let's go back now, and revisit Friday's action...

    Well... More proof that the double dip is coming on Friday......
  • Waiting On The RBNZ...

    In This Issue..

    * Currencies trade in a tight range...
    * Fed to keep rates unchanged till 2011?
    * Brazil GDP soars 9%!
    * Another glut of Treasuries to auction...

    Good day... And a Wonderful Wednesday to you! I had a first today on the way to work... I hit every green light! Now... I'm sure you are wondering why I would even have green lights at this hour of the morning... Me too! But they are there! And it was smooth sailing into work today... YAHOO!

    OK... Let's get serious, serious... The currencies traded in a tight range yesterday, with a brief mini-rally in euros, as the single unit rallied to 1.20, but that was short-lived. The rumor going around was that the Swiss National Bank (SNB) was intervening...

    ...
  • Risk Aversion Is Back!

    In This Issue..

    * Euro bashing is back!
    * Canadian GDP jumps to 6.1%!
    * RBA keeps rates unchanged
    * 7-U.S. cities have 'junk debt'...

    Good day... And a Terrific Tuesday to you! And welcome to June! As Pfennig tradition would have it... June is busting out all over, all over the meadows and the hill! Buds're bustin' outta bushes, And the rompin' river pushes, Ev'ry little wheel that wheels beside the mill! And you thought I was just a 'rock-n-roller!'

    Well... Yesterday while we were honoring the fallen soldiers of today and yesteryear, the Europeans were knocking the stuffing out of the euro once again... This time, it was a story that spread like wildfire regarding the Eurozone economy not being able to have strong growth, because of all their austerity measures... Now... Come on boys! First you slam the euro's fingers in the door (OUCH!) for not cutting deficit spending in a few countries, and when they do show a willingness to cut deficit spending, you the ruler out and smack the euro right across the wrist!

    ...
  • Abu Dhabi Provides $10 Billion Bailout...

    In This Issue..

    * A Huge Friday Sell off!
    * U.S. Retail Sales are strong...
    * Testing the risk waters again...
    * Norges Bank & Riksbank meet this week...

    Good day... And a Marvelous Monday to you! Friday turned out to be Fantastico, as I had hope for, and the weekend was for resting, as I was on my feed too much Friday night. It was NOT a Fantastico Friday for the non-dollar currencies, though... I'll get to that in a minute... First though, I want to crow a bit on the Dubai debt problems...

    It was announced this morning that Dubai's government received $10 Billion in financing from Abu Dhabi... Hmmm... You know, I read somewhere a couple of weeks ago, when this debt /loan repayment problem was announced, that in the end, the Abu Dhabi government would step in to bail out Dubai, for the people running the two governments are blood related, and even though there had been shots fired between the two, blood would run thick here... And voila that's exactly what happened!...
  • RBA Raises Rates!

    In This Issue..

    * Pandora's Box of rate hikes is opened!
    * Is the dollar being removed from oil trades?
    * Deficits do matter, eh?
    * Gold heads toward its all-time high...

    Good day... And a Terrific Tuesday to you! A Tuesday morning that is seeing a HUGE currency rally VS the dollar on the news that the Reserve Bank of Australia (RBA) opted to go ahead and hike rates now, and not wait for November's meeting, as I had thought they would do! WOW!

    The first hike... It has opened Pandora's Box of interest rate hikes around the world... For, if the RBA went this soon, then we can expect Norway's Norges Bank to push their rate hike earlier on the calendar, maybe even later this month! And they won't be the only ones! Look for New Zealand to hike rates this year, and who knows what other country (Brazil?) will follow after that... But I see them coming, and they're marching the death march of the dollar!...
  • Riksbank Holds Off On QE...

    In This Issue..

    * Currencies trade in a tight range...
    * German Investor Confidence rises!
    * Thoughts from Jim Rogers...
    * Kohn on the economy...

    Good day... And a Terrific Tuesday to you! I'm staring at all this white space on the Pfennig template, and I absolutely drew a blank... I couldn't think of, or can't think of a thing to say! Whoa there partner! That can't happen! There's got to be something, anything, to talk about... OK! I'm back now, I really have no idea where that was going, it was an out of body experience! HAHAHAHA!

    OK... The currencies traded in a very tight range yesterday, after the dollar had ambushed them on Friday and in the Sunday night trading sessions. It's been a week since we saw currency strength, other than Japanese yen. So, we should be due for a bounce. There continues to be more whispering about the eventual dollar weakness, but for now, it's not enough to get us back to where the dollar should be trading on a fundamentals basis....
  • Back to Risk Aversion...

    * Japanese yen rallies... * Renminbi stumbles... * A very tough data week in store... * Rate cuts all around the world... ** Back to Risk Aversion... Good day... And a Marvelous Monday to you! In addition, Welcome to December! We had our first "dusting" of snow over the weekend, after experiencing wonderful weather Thursday and Friday. As much as they tried, even my beloved Missouri Tigers losing to ultra-rival, Kansas on Saturday, couldn't ruin what was a very fun and relaxing weekend for yours truly! Well... When I left you last Wednesday, I had thought that we could be on the cusp of a "change" in the currencies, as the Trading Theme that had held a tight grip on the currencies since July, was thrown to the side for a couple of days... But, I doubt "that" has happened, as a return to risk aversion is back on the table, which means the currencies and precious metals get sold, while Japanese yen, and U.S. Treasuries (read dollars) get bought....