Good day. We made it through another Monday without too much damage in the currency markets. You know things are getting pretty rough in the currency markets when we consider an average drop of just over 1% in the currencies “not too bad.” World Markets investors can’t say they weren’t warned we would see some tough times over the first half of the year (see more on this subject in the “Then there was this” section).
[Read more...]Pound Sterling as a Safe Haven?
May 14, 2012 By Leave a Comment
Good day. And welcome to another week. Chuck is headed out to Las Vegas today, to speak at the MoneyShow. With the travel and difference in time zones, he thought it would be best if we picked up the Pfennig for him this week, so I’ll be sharing my thoughts on the currency markets with you this week (hopefully, with a little help from Mike Meyers).
[Read more...]Pound Sterling as a Safe Haven?
May 14, 2012 By Leave a Comment
Good day. And welcome to another week. Chuck is headed out to Las Vegas today, to speak at the MoneyShow. With the travel and difference in time zones, he thought it would be best if we picked up the Pfennig for him this week, so I’ll be sharing my thoughts on the currency markets with you this week (hopefully, with a little help from Mike Meyers).
[Read more...]Jobs Data Push Speculators Out of the Market
May 7, 2012 By Leave a Comment
Good day, and welcome to another week. Chuck finally made it back home last night, after speaking at two different conferences last week down in Florida. We had a pretty wicked night of thunderstorms last night, so I’m sure Chuck’s flight wasn’t exactly smooth. Sure hope he got over that stomach thing that he had on Friday.
[Read more...]Jobs Data Push Speculators Out of the Market
May 7, 2012 By Leave a Comment
Good day, and welcome to another week. Chuck finally made it back home last night, after speaking at two different conferences last week down in Florida. We had a pretty wicked night of thunderstorms last night, so I’m sure Chuck’s flight wasn’t exactly smooth. Sure hope he got over that stomach thing that he had on Friday.
[Read more...]Data Show the US Recovery Isn’t Strong
March 29, 2012 By Leave a Comment
Good day. The dollar maintained its stronger tone yesterday, in spite of durable goods data, which came in slightly lower than predicted. Durable goods orders for February increased 2.2% versus last month’s revised 3.6% drop, and the ex-transportation number was up 1.6% versus a revised drop of 3% last month. Neither of these numbers met economist’s expectations, but the revision of last month’s numbers apparently offset this month’s failure to live up to expectations. MBA mortgage applications were down 2.7%, better than last month’s drop of 7.4%.
[Read more...]Housing Data Show an Uncertain Recovery Here in the US
March 26, 2012 By Leave a Comment
Good day. What a weekend here in St. Louis. I spent a majority of it outside, and we even ate dinner last night out on our deck, something that is not normal during the month of March. I enjoyed the scent of my wife’s lilac bushes as I was sitting outside last night, reading up on the currency markets. The research pointed to poor housing data Friday morning as the reason for the drop in the US dollar on Friday.
[Read more...]Gold Demand Drops as Indian Jewelers Close in Protest
March 21, 2012 By Leave a Comment
The currency markets were fairly calm yesterday, with the dollar pretty much unchanged from the levels I reported in yesterday’s Pfennig. There really wasn’t much new information to push the dollar one way or the other, and the news scrolling on the currency trading screens mainly rehashed concerns over China’s slowdown.
[Read more...]
Euro Continues to Drop
Good day. We made it through another Monday without too much damage in the currency markets. You know things are getting pretty rough in the currency markets when we consider an average drop of just over 1% in the currencies “not too bad.” World Markets investors can’t say they weren’t warned we would see some tough times over the first half of the year (see more on this subject in the “Then there was this” section).
[Read more...]