This morning, the currencies look pretty much like they did yesterday when I left the office… There’s still the Sword of Damocles hanging over the euro (EUR), in the form of Greek negotiations to obtain help from private lenders. This has dragged on now for over two weeks, and I’ve given up on it happening… You only have to disappoint me twice before I get the message!
[Read more...]Euro Reverses Slide in Short Squeeze
January 9, 2012 By Leave a Comment
The Jobs Jamboree on Friday proved to be a real boost for the economy and the dollar, which rallied on a “strong jobs number” for the first time in a month of Sundays. I highlight “strong jobs number” because, this is what this has come to… 200,000 jobs were created, so says the Bureau of Labor Statistics (BLS), in December, which is the strongest number of jobs created in another month of Sundays… The jobs reports have been so weak for so long now, that the media, and markets are all lathered up and calling this a “strong jobs number”… It’s stronger than previous ones, yes…
[Read more...]Eurozone Data Continues to Print Weak
January 6, 2012 By Leave a Comment
There’s a lot to get to this morning… but front and center is the Jobs Jamboree Friday… The first one of 2012, although it is December’s job creation report. The ADP jobs report yesterday, which was supposed to be the “indicator” for the Jobs Jamboree, but never really materialized as such, reported that 325,000 jobs were created in December… Now, that would be something to crow about… It will be interesting to see what the Bureau of Labor Statistics (BLS) comes up with… As I told you earlier this week, this is also the month were the “adjustments” to previous BLS reports are made… However, those won’t get a spotlight, and mass media coverage… They are done under the dark of night, sort of like the bill that was signed on New Year’s Eve by the President… If you’re not aware of that one, you should be… Your personal freedoms could very well hang in the balance…
[Read more...]Jobless Claims Rise Back to 400,000
October 7, 2011 By Leave a Comment
The sweet sounds of risk taking have been playing the past few days, and unless the trap door gets sprung again today, the euro (EUR) will most likely end the week on the good foot, as James Brown would say… After a couple of weeks of euro bashing, the euro has quietly rallied… And it can all be pinned down to the idea I told you about the other day, regarding a rumor about recapitalizing European banks…
[Read more...]The True US Unemployment Picture
July 8, 2011 By Leave a Comment
Well… We’re not seeing a change in the dollar/euro pair this morning, as the dollar beats on the euro (EUR) for having countries like: Greece, Italy, Ireland, & Portugal as a part of their mix… Of course, as I’ve pointed out many times in the past, the US has states like: California (the 8th largest GDP in the WORLD!), Illinois, Michigan, New York, and now add Minnesota.. The story I saw said the euro was losing ground to the dollar because the debt crisis is entering an “acute phase”… Whatever the heck that is!
[Read more...]Greece Heads Toward Austerity?
June 22, 2011 By Leave a Comment
It’s a semi-Risk Off Day today, so far that is… The Greek Confidence Vote went as thought… The budget that included austerity measures was passed, and also as expected, the Greek people protested… Just another day in the Eurozone “South”… One would think that this would be a cause to rally for the euro, being a “relief” and all… But I think that rally was already priced in yesterday, when the single unit rose to 1.44, then fell to 1.4346, and then back to 1.44, and now 1.4375…
[Read more...]Playing Old Maid
June 6, 2011 By Leave a Comment
When my youngest sister was four-years-old, we taught her how to play Old Maid. She learned quickly but played the game like – a four-year-old. When she was dealt the Old Maid, her little thumb would push it a couple of inches above the others in her hand. She did this with a giggle since her maneuver was tricking us (in her 4-year-old mind) into taking the Old Maid. She succeeded; someone would remove it from her hand so that she could say: “Ha, Ha, you have the Old Maid!”
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Jobs Data Sends Currencies and Gold Lower
Good day… And a Marvelous Monday to you! Congrats to the fans of the Big Blue, NY Giants, who are the Super Bowl Champions, after a very entertaining game. It’s very foggy out this morning here in St. Louis, reminds me of the time my beautiful bride and yours truly were driving home from Des Moines to St. Louis and a very dense fog was everywhere… Not wanting to stop, I cracked the car door open and kept an eye on the white line, which would keep me on the road… Thinking back now, that probably wasn’t a very safe thing to do, eh?
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