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  • Dollar ends the week drifting even lower...

    In This Issue.

    * Dollar continues to drift lower...

    * Global growth expectations increase...

    * Japan introduces a new word to the markets...

    * Thanks to Loraine for the doughnuts...

    ...
  • Risk Sentiment Returns.

    In This Issue.

    * Good Italian auction pushes euro higher.

    * MAS leaves band for Sing dollar unchanged.

    * Japan cuts their economic assessment.

    * NZ PM John Key, with a classic quote.

    ...
  • ECB Changes Stance.

    In This Issue.

    * Currencies & metals rally on ECB news.

    * Fed to devalue dollar by 33%?

    * Japan posts smallest CAD since 1996.

    * The Misery Index, deux.

    ...
  • The Bank of Japan puts money where their mouth was.

    In This Issue.

    * BOJ intervenes...

    * ECB & BOE announce rate decisions...

    * US treasuries defy possible ratings downgrade...

    * Commodities bull market to continue...

    ...
  • Dollar slides as investors move out of 'safe havens'...

    In This Issue.

    * Dollar slides as investors move out of 'safe havens'...

    * Another result of the catastrophe; Japan to sell US treasuries...

    * Swiss franc continues to climb...

    * India increases interest rates...

    ...
  • Downgrading Japan.

    In This Issue.

    * Is a downgrade coming our way?

    * CBO revises forecast upward.

    * FOMC leaves rates & QE2 in place.

    * Richard Russell on the dollar.

    ...
  • RBA Disappoints...

    In This Issue.

    * Eurozone Manufacturing rises...

    * Japan goes negative with rates!

    * A$ gets hammered after RBA decision...

    * Food prices are rising...

    ...
  • Japan Spoils The Party!

    In This Issue..

    * Currency rally is stopped by BOJ...

    * Gold reached new all-time record high!

    * U.S. Retail Sales better than expected...

    * a "death spiral" for pensions?

    ...
  • Central Banks Diversify...

    In This Issue..

    * Currencies soften VS the dollar...
    * Another look at Canadian job data...
    * China has Super month of exports!
    * Yen gets rocked by Upper House election...

    Good day... And a Marvelous Monday to you! Congratulations to Spain... The fiesta is on in Spain, as their football (soccer to us) team won the World Cup yesterday. Personally, I think Holland, got the bad end of the stick on two calls that would have turned that game their way. But, it was not to be, and Spain hoisted the cup!

    OK... Well, thanks to Chris for taking over the Pfennig on Friday. I was busy with other things for the day. I sent a note to Chris Friday morning about the Canadian Job report, and he replied that he had already written about it! WOW! Quick on the draw! He beat me to the punch... But, the report was so good it's worth talking about some more! Canadian employment skyrocketed again in June rising by 93,200, almost four times the amount expected by forecasters (+20,000). Add this to the 133,000 jobs created in April/May And you've got the ingredients for a strong quarter of job creation! The unemployment rate fell back to 7.9%, lower than forecasts for an 8.1% print.

    ...
  • Another HUGE Currency Rally!

    * Gaza bombing has dollar on the run... * More proof we're turning Japanese... * Adding to the debt burden... * What will deflation do for the dollar? ** A HUGE Currency Rally! Good day... And a Marvelous Monday to you! Well... It's been a long time, now I'm coming back home! Actually, I've been home all of my winter vacation, but I'm referring to the trading desk and EverBank's office. I had a vacation that had a split personality, as I was sick for the first part of it, then went to the eye doctor to get another shot / injection in my eye. So much for the first part! The second part went quite well, with lots of rest and time spent with family. Are there two better ways to spend your time? Not in my book! So... The currencies had a split personality while I was gone too... At first, they rallied like there was no tomorrow, but then sold off, and then range traded. So, we'll finish the year on a down note for most of the currencies, but knowing all too well that the markets are beginning to realize that the debts the U.S. is chalking up are not going to go away, and in fact they're just going to get worse, and that spells bad times for the dollar... Eventually......
  • FOMC Meeting Begins Today...

    * Mini-currency rally is cut short * Is it Japan or U.S.? * Gold stages a rally... * Swiss francs remain well bid... ** FOMC Meeting Begins Today... Good day... And a Terrific Tuesday to you! Well... We saw some profit taking in the currencies yesterday, which meant a mini-rally in non-dollar currencies for the first time in what seems to be a month of Sundays! At one point in the day, the euro had added more than 1-cent to its figure dragging sterling, Swiss, Canada and a host of others along. But, that didn't last in the overnight markets, and we're right smack dab back on square one where we left off yesterday. This morning we'll listen in on former Fed Chairman Volcker's speech, which ought to be a good one, don't you think? I mean, this is the guy that said a couple of years ago that the U.S. could see a currency crisis... And didn't it? OK, it's not now, but turn your clocks back to June, and you'll see what I'm talking about here. Volcker is a "hero" of mine in how he took on the inflation of the late 70's early 80's and didn't dance around the dance floor with it... He whipped it into shape, and then left it all in good shape for Big Al Greenspan... We all know what happened after that!...
  • A Downward Revision of Eurozone Growth...

    * Euro rally ends quickly! * Housing Data continues to be bad... * OECD wants Norway's rates increased... * The Aden Sisters on a Wednesday! ** A Downward Revision of Eurozone Growth... Good day... And a Wonderful Wednesday to you! I'm sitting here wondering what to write about this morning, and on the radio is a classic song by Led Zeppelin, Dazed and Confused... Seems quite apropos, eh? I say this because that's what I've been for the last month, as the dollar got up from its death bed, and there's not a sign of any medicine that was prescribed had been taken! Oh well, why would I think that things would change for me at this stage of my life, I've been dazed and confused for a long time! HA! I'm sure that's what a lot of people are saying right now anyway... The euro rebounded over 1-cent yesterday, but that rebound has been wiped out completely in the overnight markets... There's just no lasting power in any currency rally VS the dollar right now. And as I keep going saying, this is reminding me so much of 2005 when the dollar covered up its pimples and posed for GQ, only to see the pimples pop through the makeup by year-end....