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...]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...]New Home Sales Plunge!
August 26, 2010 By Leave a Comment
Well… The chill in the air isn’t confined to the cold front that moved through the Midwest this week… The cold front’s chilly air has moved over the economic data here in the US and to a lesser extent, the dollar.
The dollar is weaker this morning versus the usual suspects, led by the euro (EUR), which has climbed and clawed its way back to above 1.27; and the commodity currencies look a bit healthier this morning, too. It’s all about the awful housing data that had printed two consecutive days this week. I’ll get to that in a minute, but first some observations from the Chuck flight deck…
[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...]Bailing On a Canadian Dollar Rate Hike?
August 23, 2010 By Leave a Comment
So, it looks to me that all my warnings about the euro (EUR) not being out of the woods just yet, were bang on… You see the “heatâ€� is back on the Eurozone’s debt problems, which is strange in that there were two successful bond auctions by member countries last week… You see, to me this is nothing more than the old saying about when the US sneezes the rest of the world gets a cold, is coming into play right now.
[Read more...]
How Japan and Switzerland Could Reshape the Currency Markets
Japan and Switzerland are facing the same threat to their economic health. And so far, every step they’ve taken to make things better has only made them worse.
But there is one way they could conceivably get out of this mess. And even though no one is talking about it yet, a mere hint of the possibility could send China-sized shockwaves throughout the global currency markets.
[Read more...]