As I turn on the currency screens this morning, I see that the euro (EUR) is higher than it was yesterday morning, but lower than it was mid-day yesterday, as the single unit rallied to 1.2850 yesterday, only to see that figure slip slidin’ away, and then watch it rise again…
[Read more...]Aussie GDP Prints Strong
September 1, 2010 By Leave a Comment
Front and center this morning, Australia printed a moon-shot second quarter GDP report, that has the risk aversion campers running for cover this morning. All currencies, except the risk aversion currencies of dollar, yen (JPY) and francs (CHF), are getting sold, and the Aussie dollar (AUD) has gained 1 1/2-cents!
[Read more...]Personal Spending Outpaces Income
August 31, 2010 By Leave a Comment
Well, the happy morning for the commodity currencies turned sour on the day, as the risk assets all got slapped around by the markets. The risk assets went sour after the personal income/spending data printed…
Say it ain’t so, Joe!
Is this a case of “here we go again?�
[Read more...]A Flat Day Trading Currencies
August 30, 2010 By Leave a Comment
Recall, last Friday, we were waiting for the second quarter GDP print to see if any of the Fed Heads at the Jackson Hole boondoggle would comment on what I expected to see, which was GDP falling to 1.5%…
Well… I should have booked a flight to Vegas on Friday, as I darn near hit the GDP downward revision bang on! The actual number, that is if you even believe that this number is really the “actual numberâ€�, was 1.6% for the second qurarter. But, I don’t gamble, except for my annual World Series bet on the Cardinals, and an occasional neighborhood, nickel, dime poker game, so… I’ll stick to writing…
[Read more...]What to Expect from Second Quarter GDP
August 27, 2010 By Leave a Comment
The currencies are trading in the same clothes as yesterday. It’s almost like the movie Groundhog Day, for the euro (EUR) has performed the say way as the previous sessions… For instance, the euro rose up to 1.2765 yesterday, only to fall back to just above 1.27, and then overnight, like the previous night, the euro rose to 1.2740, only to see it fall back again.
[Read more...]Existing Home Sales Plunge!
August 25, 2010 By Leave a Comment
An awful Existing Home Sales report yesterday is causing more people to jump on my bandwagon… You know, the one about the double dip recession, which will be fueled by another housing slump… Of course I call it a double dip, but in reality, I truly believe it to be a “single scoop,â€� for I don’t believe like our government officials, and Fed Heads that we “came out of the recession.â€�… But that’s just me, thinking logically, as always!
[Read more...]Is the Weak Euro the Reason Germany is Recovering?
August 24, 2010 By Leave a Comment
Things didn’t get any better for the currencies yesterday (save yen (JPY) and francs (CHF)), as the focus, whether it belongs there or not, remains fixated on the GIIPS once again, and their ability to function under the weight of debt they’ve created for themselves. For those of you new to class, GIIPS is short for the countries of the Eurozone that consist of: Greece, Italy, Ireland, Portugal, and Spain…
[Read more...]US Jobless Claims Hit 500,000
August 20, 2010 By Leave a Comment
The dollar was still stuck in a rut through most of yesterday’s trading, in spite of a weekly jobs report that showed jobless claims climbed to 500,000. But Bundesbank head Alex Weber dropped a bomb on the markets late yesterday and sent the euro (EUR) running for cover. The euro has fallen over one cent in early trading and is in danger of losing the $1.27 handle for the first time in a month. More on the euro in a sec, but first let’s review the jobs data, which dominated the news yesterday.
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How Will Census Workers Affect the Jobs Report?
It was a ping-pong day for the currencies, back and forth over the net… The net being the “level of the dayâ€�… For instance, the Aussie dollar (AUD) played over the 91-cent net all day, and the euro played over the 1.2820 level all day.
[Read more...]