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US Manufacturing is Stronger?

September 2, 2010 By Chuck Butler Leave a Comment

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…

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A Flat Day Trading Currencies

August 30, 2010 By Chuck Butler Leave a Comment

Recall, last Friday, we were waiting for the second quarter GDP print to see if any of the Fed Heads at the Jackson Hole boondoggle would comment on what I expected to see, which was GDP falling to 1.5%…

Well… I should have booked a flight to Vegas on Friday, as I darn near hit the GDP downward revision bang on! The actual number, that is if you even believe that this number is really the “actual numberâ€�, was 1.6% for the second qurarter. But, I don’t gamble, except for my annual World Series bet on the Cardinals, and an occasional neighborhood, nickel, dime poker game, so… I’ll stick to writing…

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Dollar Gets Sold On Bad Data Prints

July 6, 2010 By Chuck Butler Leave a Comment

The currencies traded yesterday, but in very tight ranges, as the US was on holiday. This morning, the bias is to sell dollars, much like it was on Friday before the liquidity of Europe went to the pubs… Let’s go back now, and revisit Friday’s action…

Well… There was more proof on Friday that the double dip is coming…

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Euro Rallies As Economic Data Piles Up Against a Strong Recovery

July 2, 2010 By Chuck Butler Leave a Comment

The fireworks went off early yesterday in the currencies, folks… And they have not died down or had water thrown on them in the overnight and morning sessions…

WOW! You should have seen the currency screens lighting up yesterday… First it was the rise in Initial Jobless Claims, and then the hits just kept coming for the dollar, and economy. ISM Manufacturing Index slid further than forecast, which means manufacturing is slowing down. And Construction Spending was down in May…

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Chinese Manufacturing Slows

July 1, 2010 By Chuck Butler Leave a Comment

We closed the books on the second quarter yesterday. One that probably will end up showing some real rot on the US economy’s vine. Yes, I do believe that rot is going to be exposed as we move along in July. So… We have that going for us!

The news from China, overnight, was not exceptionally good, and the fear mongers came out of the woodwork again, which wasn’t a good thing for Aussie dollars (AUD)… In fact, all of the commodity currencies got whacked and sent to their rooms without TV! So, here’s the news from China…

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Chinese Manufacturing Slows

July 1, 2010 By Chuck Butler Leave a Comment

We closed the books on the second quarter yesterday. One that probably will end up showing some real rot on the US economy’s vine. Yes, I do believe that rot is going to be exposed as we move along in July. So… We have that going for us!

The news from China, overnight, was not exceptionally good, and the fear mongers came out of the woodwork again, which wasn’t a good thing for Aussie dollars (AUD)… In fact, all of the commodity currencies got whacked and sent to their rooms without TV! So, here’s the news from China…

[Read more...]
Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , ,

Chinese Manufacturing Slows

July 1, 2010 By Chuck Butler Leave a Comment

We closed the books on the second quarter yesterday. One that probably will end up showing some real rot on the US economy’s vine. Yes, I do believe that rot is going to be exposed as we move along in July. So… We have that going for us!

The news from China, overnight, was not exceptionally good, and the fear mongers came out of the woodwork again, which wasn’t a good thing for Aussie dollars (AUD)… In fact, all of the commodity currencies got whacked and sent to their rooms without TV! So, here’s the news from China…

[Read more...]
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Some Good Alternatives to US Dollars on Bad US Data Prints

June 25, 2010 By Chuck Butler Leave a Comment

Today the G-20 meeting starts in Toronto. I hear they have “locked down the streets,� sure glad they don’t hold one of those boondoggles in my neck of the woods!

I think today we’ll have some “cautionary tradingâ€� ahead of the meeting, as traders just don’t know what to expect, other than the billing going into the meeting of an “austerity versus spendingâ€� fight between the US and Germany… Right now, that “cautionary tradingâ€� has a bias to buy dollars, and yen (JPY)…

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High Yielders Sell Off on Bad US Existing Home Sales Data

June 23, 2010 By Chuck Butler Leave a Comment

Yesterday, after the currencies had sold off in the overnight sessions, they traded throughout the US session in a tight range, with a bias to move higher, but were not able to mount any kind of sustained move against the dollar.

This morning, the overnight sessions have left the euro (EUR) about where it was yesterday morning. The worst performers are the ones that were the best performers on Monday… The high yielders… Aussie (AUD), kiwi (NZD), South Africa (ZAR), Norway (NOK), and even Canada (CAD), not that it’s a high yielder, but since Canada was the first G-7 nation to raise rates, they get some credit…

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