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Nice scoop on the Australian dollar from our favorite currency analyst, Everbank’s Chuck Butler: And under the heading of “dirty float”… The Reserve Bank of Australia (RBA) is reported to have sold the most A$’s in the month of May, since February 2004! Now, go back to May and recall the move in A$’s… The […]
Technically speaking…Australia is not yet in a recession. Australia’s GDP rose 0.4% in the 1st quarter of 2009 – a strong, strong performance turned in from the Land Down Under…especially as the other major economies in the world continue to circle the bowl. As long as China’s recovery continues – and that could be a […]
The trend is our friend…and right now, the trend in the Australian dollar is up, up, and up. Source: Barchart.com A couple of weeks ago, we took note of the rally in the Aussie – and decided to initiate a position. Boy am I glad we did…since that time, the A$ has rallied nearly 4-cents, […]
Monday night, we were fortunate enough to initiate a long position in the Australian dollar. I took a long, hard look at it before entering the position – on one hand, it had already been rallying strong and was afraid may be due for a pullback. But the fundamentals and technicals looked too good, so […]
The Australian dollar topped the 74-cents mark today to hit a new 6-month high against the US dollar. The Aussie has been rallying strong of late, and this recent strength is now also underpinned by yesterday’s decision by the RBA (Reserve Bank of Australia) to hold interest rates at 3% for at least the near […]
Is ANYONE going to defend their currency? Chuck Butler writes in the Daily Pfennig that Singapore is now the latest to throw in the towel on theirs: A couple of weeks ago, when Chris was writing the Pfennig for me, he wrote about Singapore, and how the Monetary Authority of Singapore (MAS) had indicated it […]
Today, Bloomberg reported that the Japanese Yen dropped today against the dollar, euro, and Swiss franc as Japan posted its first trade deficit in 13 years. “The poor Japanese trade-deficit data are giving further fuel to the idea that Japan, or the yen, is no longer the safe haven as the country’s external position deteriorates,” […]
Jim Rogers, doing some “stand up” commentary on upcoming opportunities in the foreign currency markets: Expects the Japanese Yen to rise another 10-15% The current dollar rally is a forced short covering – not a flight to safety We are going to have “many, many, many” more currency problems this year Owns the Euro, Swiss […]
Everbank’s Chuck Butler highlights the reasons he foresees a possible rally in the Norwegian Krone on the horizon in today’s Daily Pfennig: I had a great lunch yesterday with the Big Boss, Frank Trotter, and we were discussing what we would talk about next week at the Orlando Money Show. I told Frank that I […]
According to Everbank’s Chris Gaffney, the dollar index has fallen below its 55-day moving average, a key technical indicator. But even before the automakers got the bad news from the Senate, the dollar was falling faster than we’ve seen in the past few weeks. Chuck shouted out across the trade desk around noon yesterday that […]
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