ZEW says Germany is on the mend…  UK inflation remains higher than expected…  Safe Haven, what safe haven?  Housing data remains soft… And Now… Today’s Pfennig!

The yen and the dollar edged up against the euro today, Wednesday, as falls in equities and oil prices dampened investors’ appetite for riskier assets.

Risk aversion has left the building…  CIT survives without Fed help…  SNB tries to fight the markets…  Light week for US data… And Now… Today’s Pfennig!

Risk Aversion returns…  Money Multiplier dampens stimulus effects…  TIC flows show concern of foreign investors… China back on growth track… And Now… Today’s Pfennig!

Risk aversion returned to markets on Thursday, supporting the U.S. dollar and government bonds, after mixed economic data, while concern about the possible failure of a small U.S. lender sparked caution following the week’s robust gains in stocks.

Goldman posts a nice profit…  I smell a rat!  Euro nears the 1.41 mark… Again!  Gold manipulation? And Now… Today’s Pfennig!

Earnings reports begin this week…  Dollar, yen, francs get bought…  Medvedev shows off new coin!  A busy week! And Now… Today’s Pfennig!

Gold firmed today, Thursday, as weakness in the dollar prompted interest in the precious metal as a currency hedge, with some physical demand after the previous session’s fall also supported prices.

Currencies rebound…  G-8 has no fireworks…  Aussie / China and coal… Entitlements… And Now… Today’s Pfennig!

Gold fell in Europe on Wednesday and platinum dropped below $1,100 an ounce for the first time since May 18 as the dollar firmed against the euro, making precious metals more expensive for holders of other currencies.