Hello everyone! I want to start today with a great big THANK YOU to everyone who sent along prayers, thoughts, good wishes, and everything else to me last week… Yes, it’s me! I’m going to take a stab at writing again after two weeks… It’s been a turn on Mr. Toad’s Wild Ride the past two weeks, but I’m here… I’m out of cancer pain… And… Ready for life’s next fork in the road.
[Read more...]Euro Falls as Greece Pushed Toward IMF
March 24, 2010 By Leave a Comment
The dollar gained ground across the board as the news hit that the IMF will be brought in to help rescue Greece. The dollar was also helped by data which showed existing housing sales fell by less than expected in February. We will get additional news on the status of the US economy today, with the release of durable goods and new home sales numbers for February. We will get a rate decision by the Norwegian central bank today, which could stoke calls for higher rates here in the US. But the big news overnight is concerning the euro (again!).
[Read more...]Big Ben Bernanke Talks Rate Hikes
February 11, 2010 By Leave a Comment
OK… Well, the “experts” that thought the trade deficit was going to narrow in December got their lunch handed to them yesterday, when not only did the trade deficit NOT narrow, but widened from $35 billion to $40 billion! Now that stinks! And… I’ll tell you right now, it will deduct from the 5.7% GDP figure that was printed a couple of weeks ago. Yes, this increase in the trade deficit will probably reduce the GDP figure to at least 5%.
[Read more...]Markets Believe US Rates Will Move Higher
December 22, 2009 By Leave a Comment
We had another uneventful day in the currency market, with the dollar losing some ground in the morning, but then rallying back up as the day wore on. Overnight, the dollar lost ground again and is trading almost back to where it began yesterday morning. There just isn’t anything to drive the markets, as investors are content to book the gains they have already earned for 2009. There will be a couple of big data days this week, but barring any major surprises, the traders seem content to just stay on the sidelines until 2010.
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A Rate Hike For Australia
Front and center this morning is the fact that the NY boys and girls didn’t like the Greek bailout one iota yesterday, sending the single unit below 1.32… When the traders in Asia and London returned last night and this morning, they too did not like what they saw and sent the euro (EUR) even lower.
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