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  • All That Demand, And No Soaring Price?

    In This Issue.

    * RBNZ Opens door to rate hikes.

    * Poland & Brazil hike rates 1/4%

    * OPEC leaves production unchanged.

    * Data returns today.

    ...
  • A building block...

    * A quiet Friday... * Euro hits 1.30... * Chinese concern... * This week in data... ** A building block... Good day...And a Marvelous Monday to you. Its hard to believe that Monday morning is already upon us, where does the time go? Just as the currency market took a breather, our cold weather from last week decided to follow suit as it turned out to be a nice late winter weekend. Friday was fairly uneventful as the currencies traded in a tight range throughout the course of the day so it will be interesting to see how this week shapes up. Let's see if the currencies can build from last week...

    Volatility was basically non-existent during Friday trading with less than a .50% difference between the high and the low of the dollar index. The overall bias, however, was a weaker dollar and the euro held onto 1.29 for a majority of the day and was near 1.2920 as I left the desk. The pound and Swiss franc were the only two currencies left on the bench last week with losses of about 1% and 2.5% against the dollar respectively. The rest were able to turn in a decent week with the Swedish krona on top of the pile posting a 6.5% gain....
  • The Obama Bounce Begins...

    * The dollar bounces! * ISM was simply awful! * Oil rallies... * Jobs Jamboree this Friday... ** The Obama Bounce Begins... Good day... And a Marvelous Monday to you! A weekend of football! And there's more this week with the College National Championship Game on Thursday, and then more playoff games next weekend. Crazy time of year for the sport, for sure! So... The Christmas Tree decorations came off yesterday, along with some of the house decorations. My beautiful bride doesn't like to leave that stuff up for long, but for me, I would leave it up all year long! Well... Although, technically, it's still the Christmas season (it doesn't end until Jan. 11), the Santa rally that pushed the euro to 1.45, has gone away, and we're on to the next phase, which I drew out for you over a week ago... And that is... The Obama bounce... This is something we'll have to deal with for the next few months. It all began with a huge stock rally on Friday, and that won't be the last one during the Obama bounce....
  • Cash For Trash...

    * Grave words about the economy... * OPEC warns of a higher Oil prices... * FDIC in need of $150 Billion? * Citigroup calling for a higher euro... ** Cash For Trash... Good day... And a Tub Thumpin' Thursday to you! Well... The President sure painted a rosy picture for the U.S. economy last night didn't he? NOT! Whoa there partner! With words like 'collapse' and 'danger' and 'panic', President Bush was telling the country that we're in deep dookie! In telling the public that the government must put $700 Billion of taxpayer's money at risk to bail out the financial system, he said... 'We're in the midst of a serious financial crisis. Our entire economy is in danger. America could slip into a financial panic.' Now... Those are some serious statements, folks... And were followed up by the comments by the chairman of the House Financial Services Committee, Barney Frank, who said, 'Whatever you think about whether or not there was a need for a bailout... Once the president, secretary of the Treasury, and the Federal Reserve Chairman have announced that if you don't do this, there will be a collapse, there's probably going to be a collapse if you don't do it.'...