The rain was coming down hard on the dollar yesterday… But, this morning, when I turn on the screens, it looks like the dollar selling that went on all day yesterday, has had the brakes applied. I would say slammed on, but it all happened while I was sleeping, so I don't really know for sure!
[Read more...]European Monetary Fund: You Heard it Here First
March 8, 2010 By Leave a Comment
Well… After a couple of weeks of waiting, and wondering if it was going to print or not… There was a very nice article in The Wall Street Journal on Saturday that featured… Me! And my Pfennig! I’m sure that most of you missed it, so if by chance you would want to read what Jeff Opdyke had to say about me and the Pfennig… Click here.
[Read more...]Global Energy Outlook: Getting Worse Before It Gets Better
February 24, 2010 By Leave a Comment
Markets in the US ended yesterday’s session in the red. The Dow was off by 100 points, or around 1%. The broader S&P 500 fell a bit harder, down 1.3% at the close. Gold slipped, too. The yellow metal sunk below the $1,100 mark and now trades for about $1,095 per ounce. Oil gained a smidge, to just shy of $80 a barrel.
[Read more...]March is a Good Month for Energy
February 22, 2010 By Leave a Comment
We are entering a time of year that in recent decades has been good for energy prices and energy equities.
Combine that with new estimates that domestic and global energy demand will rise in 2010, and we have the makings of a promising period for investors. March tends to be one of the best months of the year for both crude oil and natural gas.
[Read more...]China Reduces Treasury Purchases for 5th Straight Month
February 17, 2010 By Leave a Comment
Front and center this morning, we saw quite the rally in risk assets yesterday, all day, and all night! It was like the sea parted, the stars aligned, and the karma began to flow… The global economic recoveries came back into the thoughts of traders and investors, and the fears of Greece waned… It was as if none of the “sky is falling” theatrics had gone on the past month!
[Read more...]China Reduces Treasury Purchases for 5th Straight Month
February 17, 2010 By Leave a Comment
Front and center this morning, we saw quite the rally in risk assets yesterday, all day, and all night! It was like the sea parted, the stars aligned, and the karma began to flow… The global economic recoveries came back into the thoughts of traders and investors, and the fears of Greece waned… It was as if none of the “sky is falling” theatrics had gone on the past month!
[Read more...]The Mini-Rally For Currencies Continues
January 25, 2010 By Leave a Comment
On Friday, the currencies kept with their mini-rebound versus the dollar – for the most part – as the Big Dog, euro (EUR) crept higher and higher, but in tiny, baby steps for sure! It’s as if traders want to take the euro higher, and sell the dollar, but they just aren’t sure right now…
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Oil Spikes Up in Global Confidence
When you have been in this business as long as I have, certain patterns become apparent; and one of those patterns showed back up yesterday. In the 20+ years that I have been working with Chuck, it always seemed the currencies rally whenever Chuck spends a week or two away from the desk. We call it ‘Chuck's vacation rally.' Yesterday we saw the dollar drop and the currencies bounce back up beginning what looks like another leg in the long-term trend.
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