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Hong Kong Monetary Authority (HKMA) intervened yesterday against the recent rise of the HK dollar. The HK dollar is pegged at a ratio of 7.8 to the US dollar, but is allowed to trade in a range from 7.75 to 7.85. The top of the range was hit, and the HKMA stepped in to lay […]
By Chuck Butler, EverBank Good day, and welcome to another wonderful Wednesday. As Chuck mentioned yesterday, the call to the bullpen has been made, so Chris and I will split shifts over the next couple of days. When I got home last night, I sat on my back porch to collect some thoughts and not only […]
Currencies: Markets Shift Focus Back to Greece By Chuck Butler, EverBank Good day. A crazy day in the markets yesterday, but a very peaceful evening for me. With everyone gone, I treated myself to eating out and had a steak dinner. I reduced my intake of red meat after the cancer discovery five years ago, so […]
By Chuck Butler, EverBank Good day. The end of a very long week for me. It seems like a month of Sundays since just last Friday! But that’s OK; the weekend is here, and I have plans! I hope my plans don’t get squashed like the hopes that the markets had yesterday that Big Ben Bernanke […]
By Chuck Butler, EverBank The risk assets’ rally that was going on yesterday morning continued throughout the day, and overnight and European sessions. This morning, the currencies have received a boost from a couple of fairly good bond auctions in France and Spain. In Spain, the demand outstripped the supply, but the yields rose to above […]
By Chuck Butler, EverBank Good day. I’m at a complete loss this morning on what to start with! I’ve sat here staring at the blank Pfennig template for about 10 minutes now. My mind wandering to this, that and the other stuff, but never really settling on something. UGH! So I thought I would just start typing […]
By Chuck Butler, EverBank Yesterday’s price action left more blood in the streets, with the euro (EUR) losing the 1.24 handle, and the Australian dollar (AUD) reaching a 2012 low. The Brazilian government and central bank continue to do their best to unravel the markets, by cutting interest rates again this morning and crowing that there […]
By Chuck Butler, EverBank Good day. I got all my “home alone” chores done last night, of course after going home and taking a nap! It’s still blazing hot here, but when you work inside all day, it doesn’t matter much. But since I once had a job as a young man, in the hot Oklahoma […]
By Chuck Butler, EverBank The dollar is moving onward and upward this morning, as the two-day calm in the currencies was lifted overnight, and the dollar is swinging its mighty hammer once again. The euro (EUR) has slipped to its lowest level since August 2010, and we all know that when the euro is taking its […]
As the US dollar rallies furiously, it’s counterpart Down Under continues to get slammed. Are these currency moves getting a bit overdone? Chris Gaffney weighs in… Data Show US Economy is Improving by Chris Gaffney, EverBank Good day. The dollar continued to benefit from the troubles in Europe yesterday, adding to its weekly gains. The dollar […]
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