Good day. I’m writing from home, as I’m headed to the doctor right out of the starting blocks this morning. So since I’m writing from home, this will be short and sweet for sure, especially since I overslept on top of it all! You would think that the “West Coast” time would be out of my system by now! UGH!
[Read more...]US Posts Monthly Budget Surplus!
May 11, 2012 By Leave a Comment
Good day. What a quick week! Next week, I’ll be in Las Vegas — not my kind of city, but it is what it is, and I’ll be there to speak on two different days, so if you’re in the area, drop by. The MoneyShow is free!
That little mini-rally, which a handful of currencies saw yesterday, faded overnight, and those currencies are all back to the levels of Wednesday. UGH! The handful, in case you were wondering, included the Australian dollar (AUD), euro (EUR), Brazilian real (BRL), Norwegian krone (NOK), Swedish krona (SEK), Singapore dollar (SGD) and a couple of others.
[Read more...]US Posts Monthly Budget Surplus!
May 11, 2012 By Leave a Comment
Good day. What a quick week! Next week, I’ll be in Las Vegas — not my kind of city, but it is what it is, and I’ll be there to speak on two different days, so if you’re in the area, drop by. The MoneyShow is free!
That little mini-rally, which a handful of currencies saw yesterday, faded overnight, and those currencies are all back to the levels of Wednesday. UGH! The handful, in case you were wondering, included the Australian dollar (AUD), euro (EUR), Brazilian real (BRL), Norwegian krone (NOK), Swedish krona (SEK), Singapore dollar (SGD) and a couple of others.
[Read more...]Debt Sinks Currency Rally
April 18, 2012 By Leave a Comment
The currency rally was stopped in its tracks last night. After watching the euro (EUR) rally to 1.3175 yesterday, I was prepared to come in and tell you all about how the Spanish debt auction results had given the euro the wind in its sails it needed. And that was the case, that is until the overnight markets pushed the single unit back down below 1.31. And when that happens, the rest of the currencies search for a bid — but find just a few crumbs of bids out there.
[Read more...]US Retail Sales Send Risk Assets Higher
April 17, 2012 By Leave a Comment
Good day. In keeping with the tradition I set many years ago on Tax Day:
“If you drive a car, I’ll tax the street,
If you try to sit, I’ll tax your seat.
If you get too cold, I’ll tax the heat,
If you take a walk, I’ll tax your feet…
Cause I’m the taxman, yeah, I’m the taxman…”
US House Prices in the Hit a New Post-Crisis Low
March 28, 2012 By Leave a Comment
Good day. The dollar rebounded from three straight days of declines yesterday as data released in the U.S. increased investors’ worries about the recovery here in the U.S. The Case-Shiller Home Price Index released yesterday morning showed U.S. home prices are now at the lowest level since the U.S. financial crisis began. Prices have yet to find a bottom, as huge bank inventories of foreclosed homes continue to keep prices down. Economists had predicted the fall, and most believe the housing market will plateau sometime this year before beginning a sluggish recovery.
[Read more...]Dollar Drops After US Inflation Slows Slightly
March 19, 2012 By Leave a Comment
Friday morning saw the dollar giving back more of the gains it had booked early last week and the greenback ended the week a bit weaker than it started. The CPI numbers were what sparked Friday’s selling, as the CPI came in a bit lower than forecasts. Consumer prices rose 0.4% in February, with just a 0.1% increase in the ‘core’ number (Ex. Food & Energy). The YOY gain was identical to the January reading at 2.9%, and the Core YOY figure was a bit lower at 2.2%. Apparently some of the currency traders felt these numbers may force the Fed to rethink their stimulus plans. Fed Chairman Ben Bernanke had indicated there would not be a need for another round of quantitative easing during the past few weeks, but the benign inflation data may indicate our economic recovery is in need of some additional fuel.
[Read more...]US Dollar Settles Into a Trading Range
March 2, 2012 By Leave a Comment
The currency markets rode out the rough waters of Wednesday and made it to a bit calmer seas yesterday. The dollar traded in a fairly tight range as reports released in the morning showed initial jobless claims remained just over 350,000, and continuing claims also remained steady. Both of these numbers were slightly better than estimates, but neither moved the markets.
[Read more...]
Hedge Funds Bail On Euro Now
Good day. I’m writing from home, as I’m headed to the doctor right out of the starting blocks this morning. So since I’m writing from home, this will be short and sweet for sure, especially since I overslept on top of it all! You would think that the “West Coast” time would be out of my system by now! UGH!
[Read more...]