The volatility we’ve seen for the better part of the week carried over into Thursday, but we didn’t have the big swings like Tuesday and Wednesday.
As I left you yesterday morning, the dollar index was down slightly and most currencies were still seeing the carry over effect from the collective appreciation of Wednesday, but things started to turn as we made our way into late morning and into the afternoon. It looks as though, at least from what I could tell, there were two drivers behind the dollar strength yesterday. It started with the data releases that showed some slight improvement, but more importantly, they didn’t disappoint.
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Get ready for a Volatile Week in the Markets
Chuck is getting on a plane bound for Mexico this morning, so I will be bringing you the Pfennig this week. As usual, Chuck left me a note to share with all the readers last night, so heeerrreee’s Chuck:
On Friday, we saw more healing in the currencies and metals, from the price action earlier in the week. Gold jumped up $15, and I have to think that some of that gain came from the heightened risk from the packages from Yemen. I tell you all the time that we have a ton of nut-jobs running around the world, wanting to blow this up, or wipe this country off the map… But gold – with silver tagging along – will always be sought when geopolitical risks elevate.
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