All Posts Tagged With: "US dollar"
Base Metals Plummet, Weakness in Europe Suggests Recession is Spreading
The base metals were all in the red on Tuesday. Copper was off sharply in the pre-dawn hours, rallied during New York morning trading, but then faded again to finish at $3.4691/lb., down 9 2/3 cents.
Dollar Strengthens, Weak German Data Send Euro Lower
In the currency market, the dollar moved higher against the euro. Late Tuesday, the euro was trading at $1.4644 vs. $1.4752 on Monday.
Byron King Says Commodities in a Short-Term Correction
It’s a difficult time for commodities bulls. Crude oil is off more than 20% from its July peak. Gold is going for about $830 an ounce, way off its Spring highs. And the Reuters/Jefferies CRB Index is down 19% from its June high.
Energy expert Byron King says investors shouldn’t panic over the drop in prices. For a start, August is a notoriously poor month for commodities. It tends to be a month of net selling.
Despite some demand issues caused by the global slowdown, Byron says commodities are in a short-term correction. And that means plenty of great bargains on offer…
Dollar Strengthens a Little, Headline Home Sales Look Good
In the currency market, the dollar edged higher against the euro. Late Monday, the euro was trading at $1.4752 vs. $1.4788 on Friday.
Dollar Range Bound…
Dollar range bound… German confidence falls… Aussie and NZD continue to slide… US to maintain pressure on Chinese… And Now… Today’s Pfennig!
Good day… Chuck had a rough night, so he decided to stay home and try to get some rest. The Pfennig will be pretty short this morning, as I want to try and get it out as close to the regular time as possible. The currency markets were fairly calm yesterday, with the dollar staying in a pretty tight range before rallying some in early trading this morning.
Garry White Says Copper Prices Will Skyrocket in Coming Years
Smart Commodities UK editor Garry White says copper prices will soar in the coming years. Existing supplies are dwindling and the rush for greener hybrid cars will send demand for copper through the roof. In the short term, Garry says investors should be ready for the copper market to bottom out over the next two months, as the summer lull in trading comes to an end…
Fannie (FNM) and Freddie (FRE) Shareholders Will Be Wiped Out
Andrew Gordon in Investor’s Daily Edge says the Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) saga is more suited to a Hollywood script than the financial pages. Except, unlike the movies, it really is too late to save the lead roles. Andrew says the government is running out of alternatives to fully nationalizing both organisations…
Byron King Is Still Bullish on Gold and Oil
In Monday’s trading, gold prices slipped to $825.70 an ounce. Crude oil prices held up at $115.05 a barrel. Both are way off this year’s highs.
We are seeing a correction in oil and gold prices, not a fundamental change in direction, says energy expert Byron King in Penny Sleuth. And much of the recent adjustment is related to the dollar rally.
In the long term, diminishing reserves and a lack of new discoveries will ensure gold and crude oil prices head skyward once again…
2Q GDP Data Will Be Inflated By Stimulus Checks
The Daily Reckoning’s currency expert Chuck Butler says America’s Q2 GDP data will likely give the US dollar a boost. But the figure will be artificially boosted by the stimulus checks handed out during this period. Chuck says misleading data cannot hide the fragility of the U.S. economy..
Rick Pendergraft Says Oil Won’t Break $147 Again for Years
Crude oil prices plunged on Friday - the sharpest one-day fall in percentage terms since December 2004.
This morning, however, crude was up almost $1, touching $115.57 a barrel on the Nymex.
Rick Pendergraft in Investor’s Daily Edge says strong trendline support for the crude oil should prevent a further fall in prices in the coming months. But falling demand and a breakout for the US dollar mean $147 will be the high water mark for oil for several years.
Latest News
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- Dollar Strengthens, Weak German Data Send Euro Lower2:47pm CDT
- Crude Rises, threat of Hurricane Gustav to Gulf Facilities Drives Market2:41pm CDT
- Gold Erases Big Early Losses, Posts Small Gain2:20pm CDT
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- Base Metals Mixed, BHP, Rio to Trade Numbers as They Jockey for Position7:39pm CDT
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