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  • Moody's & JoJo the Monkey.

    In This Issue.

    * Euro remains on rally tracks..

    * Gold & Silver are soaring again!

    * Oil pushes the loonie to $1.03

    * Aussies & kiwis on the mend.

    ...
  • More QE On The Way?

    In This Issue.

    * Currencies trade tight range.

    * Gold & Silver back off.

    * Russian Central Bank hikes rates.

    * Oil backs off of $100.

    ...
  • Brazil Hikes Rates!

    In This Issue.

    * A return to an old trading pattern.

    * Gold, Silver get taken to the woodshed!

    * Peter Orszag on our debt.

    * Backwardation.

    ...
  • China's Economy: Still Soaring.

    In This Issue.

    * Currencies back off a bit.

    * Gold, Silver and Oil all get sold..

    * Poland hikes rates 25 BPS.

    * The Worst AAA rating.

    ...
  • Pointing the Blame Finger.

    In This Issue.

    * Dollar weakness continues.

    * Gold, Silver and Oil all rally.

    * A$, & C$ trade back to parity.

    * Brazil is a job creation machine!

    ...
  • Happy New Year!

    In This Issue.

    * Currencies Close out 2010 strong.

    * But have backed off this morning.

    * Oil pushes loonies higher.

    * Silver continues to outperform Gold.

    ...
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  • Oil spikes up in global confidence.

    In This Issue..

    * Oil surges to a three month high...
    * Bernanke is confident US consumers will spend again...
    * RBA keeps rates on hold...
    * Silver outshines Gold...

    Good day... When you have been in this business as long as I have, certain patterns become apparent; and one of those patterns showed back up yesterday. In the 20+ years that I have been working with Chuck, it always seemed the currencies rally whenever Chuck spends a week or two away from the desk. We call it 'Chuck's vacation rally'. Yesterday we saw the dollar drop and the currencies bounce back up beginning what looks like another leg in the long term trend....
  • 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!...
  • Yet Another Jobs Jamboree Friday!

    In This Issue..

    * Currencies trade in a tight range...
    * G-20 to shun an exit from stimulus?
    * Gold and Silver and Oil... A new trend?
    * Loonies follow the commodities higher...

    Good day... And a Happy Friday to one and all! Well... Once again, my day didn't turn out exactly as planned, but as they say... A bad day at the ballpark is better than a good day and then you plug in the place... It could be work... It could be cutting the grass... Etc..

    OK... I heard a great song on the radio this morning on my way to work... And I said to myself... Chuck, now that's a great song to start a day with, that everyone should hear each day! It's a song from the 60's (of course!), by the Rascals, called... It's a Beautiful Morning... Here's the first verse, and if you know the song, I'm sure you'll want to sing along, but if not... Look it up, I'm sure, you'll agree that it's a great way to start a day!

    ...
  • Rising Treasury Yields...

    In This Issue..

    * Another Treasury auction today...
    * Spending habits come back to haunt reps...
    * Some healing in the currencies...
    * 10 Banks to repay TARP today...

    Good day... And a Terrific Tuesday to you! Well... I sure stirred up the hornet's nest yesterday... Some people didn't think I should express my opinion... But that's OK... Here's the skinny... I wrote yesterday about the farce that the jobs report was, and what a feeble job the media did in reporting the 'real numbers'... I then threw something in the Pfennig that I don't normally do, just to see what was more important to people... The fact that their Gov't lies to them, or the fact that they don't see eye-to-eye with me on the President...

    Given the response, I'd say that most had their eye on the ball with the jobs farce... And that's all I'm going to say from here on out......
  • Dollar Shows Additional Strength...

    In This Issue..

    * Euro at one-month low... * Trichet talks rate cuts... * Riksbank & Bank of Canada this week... * The Mogambo on a Monday!

    Good day... And a Marvelous Monday to you! Today is a special day, in that it is the Big Boss Frank Trotter's birthday! Happy Birthday Boss! Actually Frank is more of a very good, long time friend, mentor, and then boss. We've worked together for a very long time... I tell people at shows that Frank and I do together, that we've been working together for so long... The Dead Sea wasn't even sick when we began working together! HAHAHAHAHAHA!

    OK... A bad day a the office for the euro and other currencies on Friday, and then last night in the overnight markets... European Central Bank (ECB) President, Trichet, once again deep-sixed the euro with talk of further rate cuts. He did attempt to water down the message by saying that "any rate cuts would be measured 25 BPS cuts" Memo to Trichet... It doesn't matter what the size of the debasing is, as long as you are going to debase your currency, the markets will make you pay for it!...
  • Some Healing...

    * largest one-day move up in the euro! * largest one-day move up in Oil! * Gold and Silver rebound! * Renminbi finally moves! ** Some Healing... Good day... And a Terrific Tuesday to you! I heard from one of my two sisters that live in the Houston area yesterday. They rode out the Hurricane together, have some damage to her house, and is still without electricity. I can't imagine what that's all like. But they are both safe at that's what's important at this point. Well... The euro had it's largest one-day move upward VS the dollar since its inception in 1999, yesterday... We've seen some profit taking in the overnight markets, but just for good measure... I think it appropriate to show that the euro reached 1.48 yesterday... That was a 3.5 euro move, and after falling to a low of 1.3869 on 9/12 (before bouncing big that day), the euro has now recovered about 7%... I would call that "some healing"......