Browse by Tags

Daily Pfennig

Blog Subscription Form

  • Email Notifications
    Go

Archives

  • Jobs Jamboree / Horror Show!

    * 598K jobs lost in January... * Currencies rally with stocks... * G-7 this weekend... * More thoughts on Gold... ** Jobs Jamboree / Horror Show! Good day... And a Marvelous Monday to you! Well, Chris and I returned Saturday night and it was warmer in St. Louis than it was in Orlando Florida! Un-Be-Live-able! I know that it stayed warm there however, as opposed to here! The Money Show was good, not the best one or even close to the best one I've attended, but as I told Chris, I believe it was simply "a sign of the times"... Bad economic times that is! OK... Let's get this ball rolling, eh? The currencies had a nice rally on Friday, as the Jobs Jamboree turned out to be a horror show... But I don't think it was the Jobs Jamboree horror show that pushed the euro and other currencies higher. I think it was the stock market rally. Recall, last week, when I told you that the stocks and currencies had been trading side by side, which wasn't something we normally see, as they have different pricing mechanisms, and a low correlation to each other. But they were trading in tandem, and that carried through on Friday......
  • Gold Moves Higher With The Dollar...

    * Currencies in a tight trading range... * Bank of Canada follows the Fed... * Look who's Talking Gold... * Adding up the spending... ** Gold Moves Higher With The Dollar... Good day... And a Wonderful Wednesday to you! The first full day of the new regime... I will say this, it makes one proud to be an American when you can watch a peaceful, even extravaganza, handing over of leadership... It really rips me up when I read that the Wall Street Boys really contributed cash to the inauguration proceedings... Making certain the new President knows who contributed cash to his party... Probably cash they received from the Gov't in bailout payments! Nah... That couldn't happen... Could it? Well... The currencies didn't really trade outside of a very tight range yesterday, except for the pound sterling, which continues to fall VS the dollar, euro, yen, and probably even the Zimbabwe currency! OK, that's harsh! But I wanted to paint the picture, so that everyone understood the grave situation the pound sterling is in... The Bank of England has decided to take 70% control of the Royal Bank of Scotland, and nationalization isn't far behind for that bank, and a few others......