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  • RBA Hikes Rates Again!

    In This Issue..

    * Global Growth gets supporting data!
    * Non-dollar currencies rally...
    * Gold heads toward $1,200!
    * Canada exits their recession...
    RBA Hikes Rates Again!

    Good day... And a Terrific Tuesday to you! And... Welcome to December! It's a grand month in my book, even if it does get quite cold! In fact, after reaching 60 degrees today, they say we'll get our first snow tomorrow night! So... Long time readers know all too well, that I'll begin whining about it being cold, and how I've got to go where it's warm... There will be no change from that this year, so be prepared!

    Well... It's a full-on, Risk On day this morning... Front and center, The Reserve Bank of Australia (RBA) did indeed raise interest rates last night (their Dec. 1st!), India's economy posted a strong 3rd QTR, and China posted a strong manufacturing number... And! The Dubai thing is waning... But, I want to talk to you about something that I wrote in the Pfennig about a week ago... So, we've got a lot on our plates to go through today, so let's get started!...
  • Its all about the yen...

    * Japan dominates news wires... * US retail sales to drop... * Russia devalues the ruble again... * Happy Birthday Kathy Butler... ** Its all about the yen... Good day...Hope everyone had a wonderful holiday, I had a great Christmas and Christmas eve. I ate entirely too much, but that is one of the joys of the holidays! Most of the markets were closed yesterday, and trading was very light on Christmas eve. The Asian markets were open, and the dollar did sell off a bit vs. most of the major currencies with the one exception being the Japanese yen. Unless we see a big bounce today, the yen will end the day with the first weekly loss vs. the US$ in two months. With a majority of markets closed, most news stories centered around the Japanese yen. Japanese industrial production fell the most in 55 years as reported on Wednesday. Factory output plunged 8.1% from October, more than 6.8% estimated by economists. Other data released in Japan showed the jobless rate climbed to 3.9% from 3.7%, and household spending slid .5%, a ninth drop....