Currencies rally…  More on the BRIC’s…  New Zealand’s GDP contracts..  Bernanke gets grilled! And Now… Today’s Pfennig!

Emerging markets, led by China and Russia, plan to jointly challenge the U.S. dollar’s role as the world’s sole benchmark currency at the April 2 meeting of the Group 20 nations – a move that underscores the currency’s weakness and fading support around the world.

Currencies in a tight trading range… Bank of Canada follows the Fed…  Look who’s Talking Gold…  Adding up the spending… And Now… Today’s Pfennig!

Another currency rally….  Bank of Canada cuts 75 BPS!…  A Santa rally?… What Asia thinks… And Now… Today’s Pfennig!

Turn back the clocks to 1950…  Currencies rally on the day…  Bank of Canada to cut rates today…
Fed Funds to zero? And Now… Today’s Pfennig!

Japanese yen rallies…  Renminbi stumbles…  A very tough data week in store…  Rate cuts all around the world… And Now… Today’s Pfennig!

I believe that when the dust settles on the fact that the Fed isn’t going to raise rates, things will have gotten so bad here that the Fed will be entertaining thoughts of cutting rates again!

Retail sales actually went up last month – how is that even possible?…The Beige Book says the U.S. economy is ‘generally weak’… The sky’s the limit for electronic money – but not so for real wealth…America’s money is snapping back… Calling into question the U.S.’s car culture…the next big thing in the search for an energy alternative…and more!

German Business Confidence…came out softer than expected in April, falling from 104.8 in March to 102.4. That was quite a tumble in business confidence, and apparently wipes out the previous three months of stronger confidence.

At best, the ECB doesn’t sound like they are ready to CUT rates any time soon… So, the euro gets to hold on to its positive interest rate differential to the dollar…