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  • Looking Under The Hood.

    In This Issue.

    * Currency rally is stopped by Slovakia vote.

    * Gold up $30 yesterday, down $16 this morning.

    * Trichet, Slovakia weigh heavily on euro.

    * Explaining the PPT.

  • A fundamental shift in currency strategy.

    In This Issue..

    * Dollar no longer being bought as safe haven...
    * Jobs data in the US will disappoint...
    * Canadian dollar gets the green light...
    * Aussie up, Kiwi down...

    Good day... Friday is finally here. This has been a pretty busy week, and from the looks of things, today is going to be just as busy. The news wires are full of stories this morning, and today is what Chuck calls 'Jobs Jamboree Friday' so we can expect some good volatility in the markets. Lots to get to this morning, so let me get right to it.

    The weekly jobs numbers released yesterday morning showed 25k more people signed up for unemployment last week than the week prior. The number of continuing claims declined slightly, but remains above 4.5 million. The data confirms what everyone outside of CNBC has been saying for quite a while, this is a 'jobless recovery' (if you can even call it a recovery!). What growth we have had has been spurred by government spending, the private sector just isn't expanding, and won't probably expand for some time....