Browse by Tags

Daily Pfennig

Blog Subscription Form

  • Email Notifications
    Go

Archives

  • Finally some positive news for the US labor mkt.

    In This Issue..

    * Finally some positive labor news...
    * ECB and UK rate decisions...
    * China to stress test banks...
    * Happy Birthday Delaney Grace!!...

    Good day... Thunderstorms are rolling through the St. Louis area this morning, and while we don't need the rain, the cooler temperatures they are bringing with them are certainly welcome.

    The dollar moved a bit higher yesterday as data released here in the US finally contained some positive news for US workers. The ISM's index of non-manufacturing businesses rose to 54.3 in July from last month's 53.8 figure. And more importantly for market psyche, it was well above expectations which had predicted a drop to 53. About 90 percent of the US economy is service related, so this number is more closely watched than the manufacturing reports....
  • 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......