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  • Thin trading brings tight ranges...

    In This Issue..

    * Thin trading brings tight ranges...
    * Searching for the exits...
    * Mixed data in Europe...
    * Yen and Real make strange bedfellows...

    Good day...We had a pretty quiet 24 hours in the currency markets, with the majors all trading in a very narrow band vs. the US$. We will probably have a few more of these days during the next two weeks, as currency desks are manned by the backups and trading thins out. Many of the institutional investors will be moving to cash in order to preserve gains for their year end statements, and individual investors will have the holidays to take them away from the markets. Occasionally we will get a rogue piece of economic data which shoves the market one way or the other, but we typically won't see any long term positions being put on during the last two weeks of the year....
  • A Rare Day, Indeed!

    In This Issue..

    * Stocks, bonds and dollars get sold!
    * The U.S. to lose our AAA credit rating?
    * A return to fundamentals day 2...
    * A Corporate Feed Good story for a Friday...

    Good day... And a Happy Friday to one and all! A Fantastico Friday here in St. Louis, as we bask in the sun of a 3-game sweep by my beloved Cardinals over the Cubbies! It's also the beginning of a 3-day Holiday weekend. It's Memorial Day on Monday! Time to reflect and give thanks for those that put their lives on the line for our freedom...

    OK... Front and Center this morning the Big Dog (euro) has left the porch and is chasing the dollar down the street! I got home yesterday afternoon, rested, and then checked the currencies at the NY closing before they handed the books over to Japan, and saw that the euro had leap-frogged to the 1.39 handle! WOW! What was going on?...