Gold Soars To Another All-Time High!
$1,055 for Gold! Global recovery prospects fuel run on the dollar…Trichet to defend the dollar today? Central Banks are diversifying…And Now… Today’s Pfennig!
Good day… And a Thunderin’ Thursday to you! It’s raining here in St. Louis, so, it must be Thursday! It’s a big night for yours truly, but I’ll talk about that at the end… We’ve got some big moves going on in the currencies and metals, so we had better get to it, and save the chit-chat for later, eh? But first, today is the funding deadline on our latest BRIC MarketSafe CD… We’ll have one more in November and then that’s it!
OK, front and center this morning, Gold has soared to another all-time high! When I turned…
RBA Raises Rates!
Pandora’s Box of rate hikes is opened! Is the dollar being removed from oil trades? Deficits do matter, eh? Gold heads toward its all-time high…And Now… Today’s Pfennig!
Good day… And a Terrific Tuesday to you! A Tuesday morning that is seeing a HUGE currency rally VS the dollar on the news that the Reserve Bank of Australia (RBA) opted to go ahead and hike rates now, and not wait for November’s meeting, as I had thought they would do! WOW!
The first hike… It has opened Pandora’s Box of interest rate hikes around the world… For, if the RBA went this soon, then we can expect Norway’s Norges Bank to push their rate hike earlier on the calendar, maybe even later…
Jobs Disappoint…
September job losses soar to 263,000…G-7 does not make statement on currencies…RBA meets tonight…India & Brazil pull the right strings…And Now… Today’s Pfennig!Good day… And a Marvelous Monday to you! The Regular Season for Baseball is over, except… The Tigers and Twins have to play a one-game playoff today! Talk about exciting! And that’s just to see who gets to go the playoffs!
Well… Friday’s Jobs Jamboree did disappoint as I had the feeling they would, printing a disappointing -263,000 jobs lost in September. The Unemployment Rate also rose to 9.8%… Now we all know that when all the people that are truly unemployed are counted, that the Unemployment Rate goes to 16%, but the Bureau of Labor Statistics (BLS) will…
A Jobs Jamboree Friday!
The dollar remains well bid…G-7 to hand currencies off to G-20? Car Sales collapse…Auditing the Lehman cash movements…And Now… Today’s Pfennig!
Good day… And a Happy Friday to one and all! Yesterday, I welcomed you to October. I had been prepared to tell you about a famous radio station here in St. Louis, that has long called October… Rocktober… But forgot, as usual! But anyway… It’s the first Fantastico Friday of Rocktober!
Today is a Jobs Jamboree Friday too! And… I’m not getting a good feeling about today’s labor report at the Jobs Jamboree. The forecast is for jobs losses to fall from -216,000 to -175,000, but the unemployment rate to tick up to 9.8% from 9.7%… I got the feeling, baby,…
G-7 to Discuss Currencies?
The ball is in the dollar’s court today…Aussie is unable to hold 14-month high…China and Eurozone print stronger PMI’s. Chock-full-o-data today…And Now… Today’s Pfennig!
Good day… Welcome to October! And a Tub Thumpin’ Thursday to you! No real reason to get Tub Thumpin’, but I thought why not? The non-dollar currencies have given back their gains made yesterday to the dollar, in a game of what seems to be, give and take… A tennis match with the dollar, one day the ball is in the dollar’s court, and the next day it’s not! Really, kind of giving me a rash, watching this… I want some direction here!
So… When I turned on all my screens this morning, and then waited about 20…
Whiplash Wednesday!
Currencies rebound VS the dollar…Aussie and kiwi lead the currencies higher…Data and Central Bank speeches today…Gold rebounds back to $1,000! And Now… Today’s Pfennig!
Good day… And a Wonderful Wednesday to you… Instead of a “turn around Tuesday”, we’re seeing a whiplash Wednesday! And for once in a month of Sundays, the Big Dog, euro didn’t lead the other little dogs (currencies) off the porch to chase the dollar down the street!
No… This time it was the currencies of Australia and New Zealand that led the charge VS the dollar… The euro has taken up the charge since opening the doors to a new day of trading in Europe, so… It looks like it’s a “take the dollar to the woodshed…
Oops, Did I Say That Out Loud?
A Wild and Wacky Wednesday…FOMC leave stimulus and QE in place…Will G-20 try to throw cold water on commodities? GATA receives a letter from the Fed…And Now… Today’s Pfennig
Good day… And a Thunderin’ Thursday to you! It’s Thundering and raining here, so I felt that naming today a “Thunderin’ Thursday” was bang on! We had a wild and wacky Wednesday yesterday, with the Fed Heads playing the part of the court jester… And… I want to know, right here, right now, why the media isn’t blasting Fed Head Honcho Big Ben Bernanke! I’ll tell you why they should be, in a minute…
OK… As I said, we had a wild and wacky Wednesday yesterday, as the non-dollar currencies went for a…
FOMC Week…
The dollar pushes back! FOMC plays battleship? Norges Bank meets this week…Precious metals give back too…And Now… Today’s Pfennig!
Good day… And a Marvelous Monday to you! Here we go… Starting a new week all over again… I have a blank page to start each day, and then 2 hours later… The Fabulous Pfennig! A work of art, I must say! HAHAHAHAHAHAHAHA!
Well… Recall on Friday, I said that the non-dollar currencies would probably just follow whatever the stocks did, since the data cupboard was empty? Well, the non-dollar currencies didn’t even follow that theme, as stocks pretty much wallowed around in the mud all day… The dollar began to push back at the gains the other currencies had made during the…
Retail Sales Soar!
Currencies rally on Retail Sales! China likes investments in Canada…Big Ben the “inflation fighter”…Gold climbs to $1,018! And Now… Today’s Pfennig!
Good day… And a Wonderful Wednesday to you! Good news for me this morning, the pain in my left knee has subsided… Now, If I could just get that swelling to go down, I’d be in tall cotton! This has been quite the ordeal on the old Pfennig writer, and one that I will be glad to put in the rear view mirror!
Well… When I turned on the currency screens this morning, the euro was trading with a 1.47 handle! WOW! It just skipped to my Lou right through the 1.46 handle, eh? It began yesterday afternoon, the dollar was…
Protectionism Wars, Here We Come!
Currencies back off gains…Administration slaps tariff on China…And Yen rallies…Quotes from Davos…And Now… Today’s Pfennig!
Good day… And a Marvelous Monday to you! I hope your weekend was grand… I was supposed to be traveling back from Williamsburg today, so this is a bonus day for you all! HA! On Friday morning, I told the early arrivers that the currencies were strong, Gold was strong, it was all good, and we needed to close up shop and go home, because it wasn’t going to get an better than that, and that the rest of the day had nothing but disappointment risk! Boy did I nail that one on the head! Let’s get to the goings on.
The currencies added to their gains…
Patriot Day
Currencies have strong rally! Trade Deficit jumps 16.3% in July! HR 1207 Gets a hearing! Gold gets back to $1,000!
And Now… Today’s Pfennig!
Good day… And a Happy Friday to one and all! Today is Patriot Day in the U.S. and a day that brings back memories of cowardly attacks on our country 8 years ago. I remember the shock and horror on everyone’s faces, and that image will remain with me to the grave. I also remember trying to write the Pfennig the “day after”… It just didn’t seem that important of a thing to do, but a reader told me that to keep things as “normal” as possible was the best thing I could do… So… I wrote…
OK… The currencies, and this…
Cautiously Positive?
Euro & yen add to gains…RBNZ disappoints…Foreclosures continue to stack up! BOE & BOC meet today…And Now… Today’s Pfennig!
Good day… And a Thrillin’ Thursday to you! Ahhh! A change! Just thought that with the thrilling victories my beloved Cardinals have been accumulating, that Thrillin’ would be a nice change to our Thursday lineup!
Front and Center this morning… The currencies added to their gains this week yesterday, albeit small gains, but gains nonetheless. The Fed’s Beige Book was “cautiously positive”… And… Overnight, the Reserve Bank of New Zealand met, and left rates unchanged as suspected… This and more as we begin our Thrillin’ Thursday!
The Big Dog euro has been off the porch chasing the dollar down the street for a week…
A Rout On The Dollar!
Currencies rally strong! China is upset with printing of dollars…The UN talks of a new currency…Unemployment rate rises to 9.7% And Now… Today’s Pfennig!
Good day… And a Terrific Tuesday to you! A long Holiday Weekend, that was quite good for yours truly! A great tailgate, a great Missouri Tigers victory, 3 of 4 for the Cardinals, a great end of summer bar-b-que at the Butler House, and a day to recharge the batteries… Really couldn’t ask for much more… Yes, the weather could have cooperated a bit better, but, hey, that’s nitpicking!
Well… Last night I was checking the markets to see what was going on, since I had walked away from the desk on Friday afternoon… And much to my…