The ball is in the dollar’s court today…Aussie is unable to hold 14-month high…China and Eurozone print stronger PMI’s. Chock-full-o-data today…And Now… Today’s Pfennig!

G-7 kisses up to China…  The dollar swings a mighty hammer…  Eastern European loans weigh on the euro…  Gold kicks tail and takes names later! And Now… Today’s Pfennig!

598K jobs lost in January…  Currencies rally with stocks…  G-7 this weekend…  More thoughts on Gold… And Now… Today’s Pfennig!

Carry Trade Depth…  RBA intervenes…  Oil weighs on the loonie… And Now… Today’s Pfennig!

On the 16th of May… not far from where the Bolsheviks executed the Romanov’s… the four BRIC country’s are coming together to plot something similarly ominous for western economies. They’re going to pull it off as well… and there’s only one thing you can do about it.

In the currency market, the dollar continued to slide against the euro. Late Monday, the euro was trading at $1.5541 vs. $1.5473 on Friday.

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.

Back in 2006, most U.S. stocks were still hitting new all-time highs and credit markets were soaring on the heels of ultra-low borrowing costs. But at the time, one important leading indicator was still flashing red.

The problem here is that Fed Head Fisher is a Lone Ranger. Big Ben doesn’t share his thoughts, and when the Fed meets later this month and cuts rates, Fisher will probably be the lone wolf on dissenting.

German investor confidence, as measured by the think tank ZEW, printed a negative -40.7 versus -32 in March. That whipsawed the euro a bit… But then France printed an inflation report that showed inflation rising at the fastest pace in at least 12 years! OUCH!