Pound Sterling Replaces Swiss Franc as Europe’s Safe Haven (?)

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When investors are running for the pound, you know things are getting wacky in Europe!  Our currency guy Chris Gaffney checks in on the latest from Europe in today’s Daily Pfennig… Pound Sterling as a Safe Haven? by Chris Gaffney, EverBank Good day. And welcome to another week. Chuck is headed out to Las Vegas […]

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Remember those crappy jobs numbers reported on Friday?  Well, they were even worse than reported when you peel the onion back.  Currency analysts Chris Gaffney and Chuck Butler take a look at the report from Friday… Jobs Data Push Speculators Out of the Market by Chris Gaffney, EverBank Good day, and welcome to another week. […]

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By Chuck Butler, EverBank After reaching a high of nearly $106 on Wednesday, the price of oil has hit the slippery slope (yay!) all the way down to $101.27 this morning. While it will take a while before this ride on the slippery slope is seen at the gas pump, if ever, the psychological feeling it […]

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By Chuck Butler, EverBank The euro (EUR) was removed from the boiling water this weekend, as the next phase of the bailout for Greece was approved… The reaction of the euro has been somewhat muted though, as most of the markets, being Pfennig readers, already saw the baby steps of stabilization going on, and priced in […]

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Where’s the Economic Growth We Were Promised? by Chuck Butler, President, EverBank Have you ever wondered, at least recently, if the markets are just playing games with investors? It’s like a game of good cop, bad cop… On one day, the markets will be all about the euro (EUR), and the prospects for a solution […]

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Sarkozy and Merkel Calm the Currency Markets by Chris Gaffney It was a pretty busy day in the currency markets yesterday, so there is thankfully plenty to write about, this morning. The dollar has continued its slow retreat from Monday’s spike when the dollar index traded at the highest level since February 22. The big […]

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by Chuck Butler There’s a fly in the ointment, folks… The ointment being the bailouts of Greece, Ireland and Portugal… A German court is going to rule on the constitutionality, or legality, of Germany’s participation in the bailouts, and this ruling is expected tomorrow, September 7th! This is like here in the US, where we […]

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One more feather in the cap of the Norwegian krone – Norway’s sovereign debt is viewed as lower risk than Switzerland! The benchmark five-year credit default swap for Norway hovers around 31 basis points, making it the country with the lowest cost to insure against default, according to Markit, undercutting Switzerland’s 36 basis points. Source […]

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Why is the Norwegian krone the forgotten safe haven? Big hat tip to Dr. Evil, who sent over this idea, pointing out that while investors are flocking to gold and the Swiss franc as safe havens, the Norwegian krone is not getting much love from European currency traders: The NOK, while up against the dollar […]

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About Author

Brett

Hi, I’m Brett Owens – and I’m a financial junkie. My “problem” started incollege, when I got a little dose of the stock market – man, was I hooked…in no time, I was reading the Wall Street Journal religously.

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