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  • Will They Or Not Or Will It Be A "Sort of"?

    In This Issue..

    * A Currency roller coaster ride...

    * Rethinking the RBA rate moves...

    * Mr Yen says intervention is ineffective...

    * SEK trades below 7!

    ...
  • The Flight To Safety Returns...

    In This Issue..

    * Dollar, yen, francs & Gold rally...

    * Yen hits 15-year high VS dollar...

    * Will the BOJ intervene?

    * Aussie job data gets revised down...

    And Now... Today's Pfennig!

    ...
  • The Wolves Are Always At The Door!

    In This Issue..

    * Euro rally falls on its face!
    * Dollars, yen, and Gold highlight the day...
    * More on the ratings agencies...
    * What, me worry about inflation?

    Good day... And a Terrific Tuesday to you! It's rainy and cold here in St. Louis... Not exactly 'May weather'... But then, you've got to experience this kind of weather, to enjoy the blue umbrella skies, and sunshine, warm days!

    Well... The sunshine for the euro only lasted about 12 hours... Yesterday, when I signed off, I said that the euro had come back from 1.3094 to 1.30, and we would need to see what the NY boys and girls thought of the aid package to get a clear direction for the euro... Well, the NY boys and girls didn't think much of the aid package, and their feelings were soon to show up in the currency trading... Almost all of the euro's gains, and those of the other currencies affected by the Eurozone problems, were wiped out... Completely! The euro is now trading lower than it was when we left for happy hour on Friday afternoon! UGH! But... Shoot Rudy, I said yesterday, that while I liked the package for its calming affect on the markets, I didn't like it for the debt... Well, the calming affect is gone, so we're left with debt......
  • The Dollar Rebounds Again...

    In This Issue..

    * Economic data deep sixes currency rally...
    * U.S. Treasury back at the auction window!
    * Yen's rose has faded...
    * Chinese renminbi spikes higher!

    Good day... And a Wonderful Wednesday to you! Not trying to sound like a broken record here, but today is the last Wednesday of 2009... The last 'hump day' and so on... The non-dollar currencies got bushwhacked yesterday by the dollar bulls around mid-day, and there's been no recovery since. The Treasury is back at the auction table, with $32 Billion in 7-year Treasuries for you to buy at the fantabulous yield of.... Drum roll please.... 2.60%! All that and more, so buckle yourself in, and make certain to keep your arms and legs inside the Pfennig at all times during the ride!

    ...
  • Will History Repeat Itself?

    In This Issue..

    * Non-dollar currencies rally...
    * A$'s and C$'s to parity?
    * Reaching 40% of expenditures...
    * Gold & Oil on the rise once again...


    Good day... And a Terrific Tuesday to you! A long day on the desk for me yesterday, left me draggin' the line... But I'm rested and refreshed again this morning, so let's get to the Pfennig for today! The Finance Ministers of the Eurozone met yesterday, as I told you, and they've tried to stem the euro's rise... But, they'll need more than words to get the job done! And so, we begin a new day...

    Front and Center this morning, the currencies, which had given back ground overnight to the dollar, are back in rally mode, and are taking liberties with the dollar once more. For most of the night that was not the case, though. The dollar had rallied back and sent the euro, for instance, to the 1.48 handle, after the single unit spent yesterday at 1.49 and change... There seemed to be a move to the dollar, but that didn't last long, and the currencies are once again rallying VS the dollar this morning, and the euro has pushed to 1.4970 as I write......
  • Shrove Tuesday!

    * No follow through on the Eurozone bond idea... * Mirror, mirror on the wall... * AIG to set record for losses... * Finding another Pfennig Reader! ** Shrove Tuesday! Good day... And a Terrific Tuesday to you! A Shrove Tuesday to boot! Shrove Tuesday you say with a tone of thinking that I have made up another word for a day? Yes... Shrove Tuesday! For Catholics in some regions of the world (Ireland originally), the day before Ash Wednesday is Shrove Tuesday... Or here in the U.S. it's Pancake Day! You see, long ago, pancakes would be served up on this day as a popular way to use up fat, butter and eggs before Lent got underway. So... Happy Shrove Tuesday!...