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  • China Widens Trading Band.

    In This Issue.

    * China's weaker GDP hurts risk assets.

    * A$ to be underpinned.

    * Japan to get serious with deflation?

    * Retail Sales today.

    ...
  • Greece Disappoints Again!

    In This Issue.

    * Huge Currency rally Friday gets reversed!

    * Latest German proposal is rejected by Greeks.

    * Fed is still concerned about deflation.

    * China returns by marking down renminbi!

    ...
  • Spraying Round-up....

    In This Issue..

    * Industrial Production declines...
    * Stocks sell off, leading currencies down...
    * Indian election spurs a rally...
    * China stockpiles commodities...

    Good day... And a Marvelous Monday to you! Thanks to Chris for picking up the ball on the Pfennig Friday. I returned to St. Louis with a very swollen leg and foot from all that walking in Las Vegas. One of these days I'll learn, eh? Any way... A restful day with my feet up on Friday, and I was ready to go again!

    Well... As much as I dislike having to say so, because I told you this might happen... The currencies have given back some major ground VS the dollar since Friday morning. It's all tied to the fact that the euphoria going around the markets the previous week regarding stocks and the U.S. economy, came to a screeching halt last week. I pleaded and begged for the currencies to break this link to stocks, but it wouldn't / didn't happen and voila! What we have here is a failure to break the link, and now that there's a falling demand for stocks, currencies have tanked too... UGH!...
  • Auction Week!

    * Currencies have a mini-rally... * Deficits do matter, eh? * Turning Japanese... * Gold fails to respond... ** Auction Week! Good day... And a Terrific Tuesday to you! Sometimes I'm right, and I can be wrong, my own beliefs are in a song... I just heard that great old song on the radio, and thought, that's a great credo to live by... Oh, well... That's just me I guess... Let's go to work! The currencies, led by the euro, made a valiant effort during the trading day in the U.S. yesterday to mount a rally, and they did! They have gained even more ground in the overnight markets, with the euro trading with a 1.27 handle... OK, I hear you saying... But, Chuck, tell us what pushed the currencies higher yesterday? Ahhh... Grasshopper... Of course I'll tell you that! Let me first set the table with the background story, then lead into the real meat with a building crescendo!...
  • Inflation & Deflation

    * Inflation & Deflation * ECB to hold rates? * Commodities skyrocket * Chinese inflation...