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  • It's All About The Jobs Jamboree...

    * Currencies rally then fall back... * Rate slashers! * Following Japan? Let's hope not! * Canada's woes mount... ** It's All About The Jobs Jamboree... Good day... And a Happy Friday to one and all! A Fantastico Friday! A Jobs Jamboree Friday! Anything else, Chuck? No, I don't think so, I'll stop there... It's all about the Jobs Jamboree today. It's all about finding out just how badly the rot on the labor vine has gotten... The Weekly Initial Jobless Claims, yesterday, remained above 500K per week, which doesn't bode well for next month's data... But first... November's Jobs Jamboree on the docket! The "experts" have forecast a -335K drop in jobs for November... But, your old Pfennig writer believes that this forecast is low. I think it will be closer to -375K... The reason I say that is the employment piece of the ISM report that printed the other day... The employment index of that report showed some real serious rot on the labor vine... I read a report last night, where an economist was attempting to show how the report should read -750K... As bad as -375K is, I don't think the Bureau of Labor Statistics (BLS) would have anything to do with printing a -750K report!...
  • An Attitude Change...

    * Dollar rallies Big! * Commodities in a free fall... * Yen remains untouched... * Data risk this week... ** An Attitude Change... Good day... And a Terrific Tuesday to you! Welcome to September! I hope you had a Wonderful Holiday Weekend. I sure did! It was the end of 4 weeks of treatments. We have beautiful weather. I enjoyed a day of football on Saturday, with my little buddy Alex, playing Saturday morning, and my beloved Missouri Tigers playing Saturday night. Sunday was fantabulous, as I hung around the backyard, and neighbors and friends all stopped by to spend the day... Just great! I had to rest up my leg yesterday, as it was swelling a bit from all the walking and standing, but back to normal today, so, it's all good! Not so for the euro and other currencies this morning. Front and Center this morning, the euro has fallen further, all the way through the 1.45 handle! Seems that Hurricane Gustav didn't disrupt the Oil production as many had feared, and the price of Oil has fallen $115, after trading as high as $119 on Friday, ahead of the storm. Gold too has taken on gallons of dollar water, and has diluted the price of the shiny metal to $805, after traded near $845 last Thursday. And Commodities? That's not a pretty sight, the free fall of commodities... And thus the Commodity Currencies of Aussie and Kiwi, and even the Canadian dollar have all seen the trap door opened up underneath them by this dollar move....