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  • The dollar regained some ground...

    In This Issue.

    * Cyprus was the market mover

    * Regional manufacturing on the rise

    * Euro takes a shot

    * Singapore inflation

    ...
  • Moodys Leaves Spain's Rating Unchanged.

    In This Issue.

    * Euro soars on Moodys decision.

    * Did U.S. Retail Sales really soar?

    * Aussie dollar pushing toward 200-DMA

    * Singapore dollar hits 1-year high!

    ...
  • Currencies Rally On Eurozone Agreement.

    In This Issue.

    * 500 Billion euro rescue fund adopted.

    * Greeks are still negotiating.

    * Merkel heads to China.

    * Singapore & China.

    ...
  • Japan is officially back into recession. . .

    In This Issue.

    * Japanese economy slips back into recession

    * IMF looks for a new leader

    * Commodities rally, bringing the commodity currencies along with them

    * Singapore raises their growth forecast

    ...
  • Let the Data Begin...

    In This Issue...

    * US Economic Data Begins Today

    * Looking Forward to Friday

    * Singapore Inflation Forges Higher

    * UK Economy Shrinks in 4th Quarter

    And, Now, Today's Pfennig For Your Thoughts!

    ...
  • Singapore announces a revaluation...

    In This Issue..

    * An Asian currency announces a revaluation...
    * Growth in the Asia-region benefits Australia...
    * Brazil to raise rates...
    * US trade deficit widens, pushing the dollar lower...

    Good day, it certainly was a good day here at EverBank yesterday. I will start today's Pfennig off with some good news which Chuck shared with the desk yesterday afternoon. The scans which he underwent last week came back clean, so the cancer is limited to the mass behind his eye, and hadn't spread to any other part of his body. This was just about as good as news as he could receive, and now he heads to the eye doctor to figure out a plan to deal with the mass. He wanted me to let everyone know how much he appreciates your emails of support....
  • All Eyes On Retail Sales...

    In This Issue..

    * Currencies rebound
    * Singapore's big announcement...
    * China's currency gets back on rally tracks...
    * BHI says to expect a rebound in sales...

    Good day... And a Terrific Tuesday to you! I'm feeling marginally better today, so I've got that going for me! You should have seen the currency screens lighting up yesterday... WOW! A lot of pent up trading from a Friday that saw thin volume due to the Holiday. This type of volume, even with a few countries still on Holiday too!

    The volume... Was all good for the currencies, as that bias to sell dollars I talked about really came shining through on the day. As I signed off yesterday, I told you that the euro had rallied since I had come in, and that rally took off in the early morning trading. The single unit climbed to near 1.34 before giving back ground in the afternoon....
  • Bad news for GM and Chrysler rallies the US$...

    In This Issue..

    * Bad news for car makers rallies the US$...
    * Yen comes back strong...
    * Singapore to devalue?...
    * German Chancellor Merkel gives warning...

    Good day... And good Monday morning to all of you. I can't believe March is nearly over, it seems as though it just started. March will end up being a pretty good month for the currency markets, as investors exited the safety of US treasuries and started moving funds back into higher yielding assets. But the markets continue to be volatile, and news released on Friday and over the weekend has sent these investors rushing back to the safe haven of the US dollar.

    The Japanese Yen and US dollar benefited after a US Government official said Friday that bankruptcy may be the best option for GM and Chrysler. The dollar continued to gain strength this morning after US Treasury Secretary Geithner warned yesterday that some financial institutions will need 'large amounts' of aid. When the Treasury Secretary says large amounts, you know it is going to be billions or trillions! Geithner was making the rounds of Sunday morning talk shows to try and justify the money already spent and prepare the taxpayers for another request of funds....
  • Euro Rally Fizzles Out...

    * Yen continues to kick! * Jim Rogers disses sterling... * China's 4th QTR GDP... * Singapore announces stimulus... ** Euro Rally Fizzles Out... Good day... And a Tub Thumpin' Thursday to you! A nasty day in the currencies yesterday, except Japan of course. The Dow jumped 290 points yesterday, maybe an Obama bounce? You all know that I subscribe to an Obama bounce for stocks and the dollar in the first part of this year... But given what I know about, and what you now know about, after I drew it all out yesterday, the additions to the deficit that Obama will make, the focus on the fundamentals should return by late spring, early summer... That's my story and I'm stickin' to it! Well... As I said in the opening, the currencies led by the Big Dog, euro, suffered through a nasty trading day, with the euro touching below 1.29 for a good part of the day. The risk takers are nowhere to be found. Where have all the risk takers gone... Long time passing... A Reuters reporter asked me yesterday if I was still of the opinion that the yen had more to rally or was it overbought? I said, that as long as the risk takers are nowhere to be found, yen should continue on its path higher VS the dollar, euro and sterling. The RSI (Relative Strength Index) for yen, shows that it is a tad overbought, but that's not enough to change my mind. Nor is it enough to change the mind of a currency trader at the Bank of New York (BONY), who believes yen may rise to 85 VS the dollar by midyear... Another currency trader at the Royal Bank of Scotland (RBS) believes the Bank of Japan will step in and intervene to stem the yen's rise.......
  • Data Supports ECB's Decision To Wait

    * Data supports ECB's decision to wait * NOK and SEK set to gain * Singapore $ hits decade high * AUD & NZD continue to increase...