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  • IEA Releases Oil Reserves.

    In This Issue.

    * Trichet deep sixes euro.

    * And Gold!

    * German Business Confidence rises.

    * Have we become Comatose?

  • RBA's Stevens Turns On The Green Light!

    In This Issue..

    * The dollar bounces back a bit...
    * Euro retreats from highs...
    * Is the economic recovery for real?
    * Ignored data...

    Good day... And a Happy Friday to one and all! I believe it will be a Fantastico Friday as well, because when I go in my car this morning to come to work, the radio was playing, 'It's a Beautiful Morning'... It had to be a sign, right? I certainly hope so any way!

    Well, I'm back! I have to say that I've never been to the mountains of North Georgia before, and they are beautiful... Well, most of the parts of this great country are, when I come to think of it! Well, it was nice to walk in the door yesterday and sit down, close my eyes, and get work off my brain!...
  • 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!

  • 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!...
  • Losses Keep Piling On!

    * Range bound currencies... * Stocks rebound... * So, you think Oil is expensive? * Gold prices back off... ** Losses Keep Piling On! Good day... And a Happy Friday to one and all! I'm running late today, was up most of the night with stomach problems, and overslept this morning. This is my last day on my 4-weeks treatment, so maybe by this time next week, I'll be able to feel normal again. But, it's a Friday! And... I'll be gone the next 3-weeks! First to Vancouver, where I'll still write the Pfennig each day, but then on vacation, and on to San Francisco... I'll be back in the saddle on August 11th... Well... We had a range bound day in the currencies yesterday, with a bias to buy dollars, as the markets breathed a sigh of relief at JP Morgan's 2nd QTR earnings... JP Morgan beat the estimates, but the thing I don't get is why there was dancing in the streets when those earnings were 53% below those a year ago. So, good for them for beating the estimates, but 53% below last year, I would certainly think it would have raised a few eyebrows... In fact, JP Morgan head man, Jamie Dimon said, "Our expectation is for the economic environment to continue to be weak -- and to likely get weaker -- and for the capital markets to remain under stress. We remain conscious that since substantial risks still remain on our balance sheet, these factors will likely affect our business for the remainder of the year or longer."...