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  • A Full-On Risk Aversion Day

    In This Issue.

    * Risk assets healing is wiped out.

    * Euro and A$ lead currencies lower.

    * Gold can't find a bid.

    * Chinese renminbi takes baby steps lower.

    ...
  • Barroso Says, "region is truly a systemic crisis".

    In This Issue.

    * Listening to a Fed Head.

    * Euro weakens after Barroso comment.

    * Kiwi continues to lose ground

    * Continue to buy Gold on dips.

    ...
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  • Running Scared...

    In This Issue..

    * Markets think FOMC will do QE soon...

    * Currencies rally along with Gold & Silver...

    * Euro moves through 200-day moving avg.

    * Time for the media to shift focus again?

    ...
  • Now It's Spain...

    In This Issue..

    * Euro drops 2-cents overnight...
    * All Risk is taken off the table today...
    * Geopolitical problems steady Gold...
    * The Budget Cuts just keep coming!

    Good day... And a Terrific Tuesday to you! Well, it was almost a "perfect ride" to work this morning, as I hit all the green lights until the very end! UGH! See, it doesn't take much to make me happy!

    The euro's green light ended last night too, as 'Now It's Spain' (NIS)... As I was packing up to go home yesterday afternoon, the euro had moved beyond 1.24, and I said, 'I wonder what's got the euro so perky this afternoon'... Well, that 'perky' feeling the euro had at that time was wiped out and more by fears that Spain's problems are now going to take center stage... Greece is an afterthought at this point, now it's Spain......
  • Holding Off The Wolves...

    In This Issue..

    * Euro rallies on aid package announcement...
    * Scandis outperform on the day...
    * Debt clock / bomb begins to tick away...
    * SEC to look at Moody's...

    Good day... And a Marvelous Monday to you! I hope all you Mothers had a Super Sunday, Mother's Day! It was a beautiful day here, for the most part, albeit more chilly than usual for May. It was also a Super Sunday according to the currency markets, for the Eurozone... So... For more of this historic announcement, read on...

    Well, Front and Center this morning, we're seeing some really big moves by the currencies, up and down... The euro has gapped all the way to 1.3094, and then gapped back down to just over 1.30... But still, doesn't that 1.30 look much better compared to last week, when we actually saw a 1.25 handle briefly? So... What put the tiger in the euro's tank this morning?...
  • FOMC Day – 04/28/2010...

    In This Issue..

    * Euro goes into a tailspin...
    * Portugal gets downgraded...
    * Germans talk with IMF today
    * Aussie CPI indicates rate hike...

    Good day... And a Wonderful Wednesday to you... Today marks 1-week since I've been back writing the Pfennig... I simply love writing the Pfennig each day, and boy did I miss it when I was unable to write... Vacation is one thing, those are well deserved breaks, but to not be able to write is another. So... I'm thankful that I'm able to write again...

    Well... The euro went into a tailspin yesterday, and for once it wasn't Greece so much... This time it was a little Greece, and a lot Portugal. The ratings agencies downgraded Greek debt to junk... And they downgraded Portugal's debt from A- to A-2, with a negative outlook. The fear that Greek's debt problems would spread, is coming to fruition... The euro fell to a 1-year low during the day, and the selling didn't stop in the U.S!...
  • Weekly Job Losses Continue To Pile Up!

    In This Issue..

    * Back to the 'safe haven' trades...
    * The dollar hammers the euro!
    * It's a Jobs Jamboree Friday!
    * The SNB sells francs...

    Good day... And a Happy Friday to one and all! It's a draggin' the line Friday for me, but I'll make every attempt to turn it into a Fantastico Friday for sure! The Big Stock Sell off that I've warned about since probably June of last year, looks like it has finally arrived... Bringing with it, my biggest fears, that the link between all the risk assets, had not been broken completely, and this link has turned into a bloodletting on currencies and commodities...

    OK... So I got that out of the way, front and center this morning! You know... Ever since I began writing about a Big stock sell off, I told you that, should the link remain in place, and the currencies and commodities have adverse reactions, then we would come to the fork in the road... The people that bought currencies and commodities to keep up with their neighbors, in hopes of being able to brag about their returns at the next bar-b-que, will panic and sell, making the sell off even worse... The people that bought these risk assets for the 'right reason', which was to diversify their investment portfolios, so that not all their investments were denominated in dollars, and to provide a hedge against further potential losses by the dollar, and to reduce their overall risk for their investment portfolio, will just batten down the hatches, hunker down, and ride this out... And... If any thing, look to pick up more of these risk assets at cheaper levels as we go along......