Browse by Tags

Daily Pfennig

Blog Subscription Form

  • Email Notifications
    Go

Have You Seen This?

  • A Look At The EFSF Pushes The Euro Higher!

    In This Issue.

    * Currencies rally on EFSF news.

    * Gold & Silver get sold.

    * Brazil debases their currency again!

    * $131 Billion in new debt issues.

    ...
  • G-20's Words Are Just Words.

    In This Issue.

    * Dollar Bulls turn risk meter past Off!

    * Gold & Silver see tons of selling.

    * Fed Inflates the Treasury Bubble further.

    * Brazil's wish comes true!

    ...
  • Trichet Signals For A Rate Hike!

    In This Issue.

    * Euro rallies to 1.40!

    * Gold & Silver play catch-up.

    * Jobs Jamboree Friday!

    * Brazil GDP soars!

    ...
  • 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!

    ...
  • Focus shifts to G-20 meeting...

    In This Issue.

    * Dollar strengthened, but not much...

    * Position squaring before G-20...

    * Brazil kept rates unchanged...

    * Gold and silver profit taking...

    ...
  • Greek crisis is sooo yesterday...

    In This Issue..

    * Merkel urges action on Greece...
    * Brazil raises rates...
    * Sterling rises on UK election polls...
    * Precious metals continue to climb...

    Good day, and what a glorious day we had here in St. Louis. The sun was shining yesterday afternoon as the Cardinals completed their 4 game sweep of the Braves with a big 10-4 win. The day was capped off for Chuck and a bunch of his parrot-head friends with an outdoor concert from one of his faves - Jimmy Buffet. I'm sure they had a great time, as it is hard not to when the weather is perfect and Buffet is up on stage. Investors worldwide seemed to be in a better mood also. The worries of Greek sovereign defaults were in the past, and traders rushed back into currencies which could give them a yield advantage....
  • Cash For Clunkers Is A Clunker!

    In This Issue..

    * Currencies trade in a tight range again...
    * U.S. Retail Sales are a clunker!
    * RBA's Stevens is upbeat!
    * Thoughts on Brazil...

    Good day... And a Happy Friday to one and all! The end of the week... It's been a tough week for yours truly, as I've hobble around in pain all week. But, as I recall, I promised 2 years ago that I would not complain about these things in the future... So! I carry on!

    Well... Front and center this morning... The currencies are trading near levels they were when I signed off yesterday morning. They did have a brief rally, after the U.S. Retail Sales data showed some real rot on the 'recover is here' vine... But that rally was snuffed out, as the risk aversion campers came back to the markets......
  • A Big Jobs Surprise!

    In This Issue..

    * Low yielding currencies get sold...
    * High yielding currencies remain solid...
    * Further info on the inflation indexed bonds...
    * Stealth QE...

    Good day... And a Marvelous Monday to you! A very nice, but hot weekend here... But hey! It's August, it's supposed to be hot! Friday was an awful day for most of the currencies, and there was a HUGE surprise in the Jobs Jamboree (according to the BLS, of course!)... And, at the end of updates, I've got a story for you about stealth QE, you'll not want to miss a minute of that! So... Let's go!

    Well, Friday's Jobs Jamboree was quite interesting to say the least... I had already told you about the forecasts for a HUGE drop in job losses for July from 467,000 to 325,000... But the number, according to the BLS, was 247,000!!!!!!! Way to Go Corporate America! Geez Louise, I wish it were that full of seashells and balloons! This smells of yesterday's fish folks... OK, let me get this straight... The forecast was for 325,000 job losses, and an unemployment rate of 9.6% (up from 9.5% in June)... And the jobs lost were 247,000, a difference of 78,000, and the unemployment rate fell to 9.4%... So, the BLS is telling me, and you, that 78,000 jobs not being lost, was equal to .2% (9.6 to 9.4)? Come on! I didn't just fall off the turnip truck!...
  • Desperately Seeking Yield...

    In This Issue..

    * Currencies rally...
    * More on the BRIC's...
    * New Zealand's GDP contracts..
    * Bernanke gets grilled!

    Good day... And a Happy Friday to one and all! The end of what seemed to be a very long week... The last weekend in June, can you believe that? Next week, we'll be getting ready for the 4th of July celebrations! WOW!

    Well... What a volatile week it has been in the currencies! Up, down, all around, and settling back to levels that we saw before the Fed's FOMC meeting earlier this week. Suddenly, investors are looking for yield again... Looks like they are "Desperately Seeking (not Susan) Yield! And why not? The Fed, and the Bank of Canada (BOC) have come out and said that there will be no interest rate hikes until we've turned quite a few pages on the 2010 calendar....
  • More Stimulus On The Way?

    In This Issue..

    * Euro leads currencies higher...
    * Commodities rally back on FOMC thoughts...
    * FOMC meeting today...
    * NZ Consumer Confidence on the rise...

    Good day... And a Wonderful Wednesday to you! Well... Yesterday, the title of The Pfennig was: So Far... It's A Turn Around Tuesday! And... That theme played well throughout the day, and by day's end, it had been quite the Turn Around Tuesday! Now, we have to see what's in store for us today, as the last couple of weeks have seen the Wednesday trading quite the opposite of Tuesday's trading! Strange trading pattern don't you agree?

    Overnight, the euro climbed as high as 1.4140, only to sit at the cusp of 1.41 as I begin to write this morning. Of course 1.41 certainly looks a lot different from the 1.35-1.40 range we've seen in recent days. But then, we've seen these probes above 1.40 before only end with the euro falling back to the 1.35-1.40 range again......