Market News

Thanks to some good news out of euro zone, the currencies were able to stage a relief rally last Friday. I’m not sure how long this would last, but, hopefully, this is the beginning of a new – and much happier – chapter in euro zone’s debt drama series.

Unfortunately the German parliament voted to approve 22.4 billion euro loans for Greece today. The euro bounced on the news. I was hoping of course for lawmakers there to finally drive a stake through the heart of that silly artificial government bungled construct known as the single currency and do us all a favor.

Talk about wild moves! What caused the fast and furious price movements yesterday? And can we expect the same action today? Read today’s roundup to find out!

A heck of a week for the buck so far, right? Granted we still got a lot of time left before it sticks, but the weekly bar on a chart of the US Dollar Index looks rather impressive

Just in case you’ve forgotten, let me remind you that we’ll be seeing the US non-farm payrolls tomorrow! I know it’s hard to keep shifting our attention from one issue to another, especially since euro zone’s debt problems are hogging the spotlight.

Mario (USD) and Luigi (JPY) stomped all over the currency markets yesterday, as they benefited from the risk aversion mushroom! Could we see more of the same today?

Ah…is Mr. Market finally waking to the systemic global macro threat that was always lingering in the background of Eurozone debt default? “Yes indeed,” he said. There is much talk of the dreaded “C-word” in the financial press this morning–CONTAGION! Keep in mind, if you utter the word contagion the words emerging markets (EM) must come next.

In the red corner, wearing white trunks with red polka dots, from the Land of the Rising Sun, the Japanese yen! And in the blue corner, with the red, white, and blue stars and stripes, the pound-for-pound king of North America, the US dollar! Let’s get ready to rumbleeeeee…

Uh oh, those debt contagion fears are really starting to creep up to the market. It looks like risk aversion is making a serious come back! Better check my daily roundup to keep up-to-date!

In a game of relative value, there’s been good reason to put your money on the Australian dollar. The simple carry-trade theme makes Australia an obvious choice during a time when general financial market risk is surprisingly absent.

I feel it in my fingers… I feel it in my toes… The end of this Greek debt drama is drawing near! Or am I speaking too soon?

Did you wake up this morning feeling like Pip Diddy? If you did, then you must be ready for today’s economic roundup. Read on!

Our Demagogue of the Year Award goes to Mr. Warren Buffet

Looks like Greece is finally going to accept a bailout package from the EU and IMF! Read all about it in today’s economic roundup!

The straight jacket of the euro is what we call this. I wonder how many politicians within the fiscally broken states have the courage or the ability to force these kinds of internal adjustments. It may be a lot easier to just leave the euro and devalue accordingly. Can you say Drachma, Lira, Escudo, and Peseta?

Whew! What a week! But the crazy price action ain’t over just yet… With plenty of top-tier economic reports on today’s docket, the major currencies seem ready to end April with a bang!

When the “moral champions” of the world gang up on Arizona, Arizona sells pesos. That seems to be what happened this week in the wake of Arizona’s crack-down on illegal immigration.

Last Monday’s Greek and Portuguese credit downgrades caused a sudden meltdown in the financial markets. Out of the blue, a lot of news agencies started pointing to the abrupt spike in the VIX. Wait a minute, what the VIX?!

It seems like the FOMC will need a couple of more quarters of strong economic growth before lifting rates! Read all about it in today’s roundup!

Gotta love that quote: “…simply transferred from one perception to another.” It really does sum it up well. We know Blue Horse Shoe loved Anacot Steel…we know gold bugs love gold…we know commodities bulls love all things commodities…and we know Morgan Stanly loves Brazil…