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Daily Pfennig

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  • Risk On, Risk Off...

    In This Issue..

    * Bundesbank hurts euro...
    * A$ is best performer overnight...
    * Is Gold a euro replacement?
    * 10-year Treasury yields soar higher...

    Good day... And a Tub Thumpin' Thursday to you! It's Tub Thumpin' because I got the go-ahead for the next step to replace my eye with a prosthesis that looks like an eye... Just looked up to see Robin Meade back from vacation, so it's a double Tub Thumpin' Thursday now!

    OK... Recall yesterday's talk about the trading pattern that had existed for 4 consecutive days? Well, that was throw to the roadside yesterday, as the U.S. session went back to beating on the euro, and other currencies......
  • The Dollar Rebounds Again...

    In This Issue..

    * Economic data deep sixes currency rally...
    * U.S. Treasury back at the auction window!
    * Yen's rose has faded...
    * Chinese renminbi spikes higher!

    Good day... And a Wonderful Wednesday to you! Not trying to sound like a broken record here, but today is the last Wednesday of 2009... The last 'hump day' and so on... The non-dollar currencies got bushwhacked yesterday by the dollar bulls around mid-day, and there's been no recovery since. The Treasury is back at the auction table, with $32 Billion in 7-year Treasuries for you to buy at the fantabulous yield of.... Drum roll please.... 2.60%! All that and more, so buckle yourself in, and make certain to keep your arms and legs inside the Pfennig at all times during the ride!

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