Currencies trade in a tight range… Again! Continuing Claims rise…Bank of England adds to QE! UGH! Swiss franc posts 5 weeks of gains…And Now… Today’s Pfennig!

Is it time to buy a house? Depends…

The U.S. economy shed “only” 345,000 jobs in May, the Labor Department said this morning. We forecast Wednesday that today’s employment gauge would beat expectations, but wow… this number smashed the Street’s guess of 520,000. Last month’s loss is the smallest since it all hit the fan last September.

The markets may be stuttering…with the euro suffering in overnight trading and stock indices down over a percent at today’s open…but a continued rally still seems the foregone conclusion du jour. We’re not necessarily going to question it.

Dollar falls as US consumers become more positive…GDP to be reported this morning…European confidence increases…Mexican peso recovers…And Now… Today’s Pfennig!

In the currency market, the dollar gained slightly on the euro. Late Thursday, the euro was trading at $1.352 vs. $1.358 on Wednesday.

I started out writing today’s piece on anything BUT energy and infrastructure. After all, the street has trashed most of the stocks in both these sectors and left them for dead.

In the currency market, the dollar fell against the euro. Late Tuesday, the euro was trading at $1.2679 vs. $1.2602 on Monday.

IMF Predicts Global “Great Recession”; United Tech. Cuts 11,600 Jobs; Brazil Economy Grows 1.3% in 4Q; Malaysia Adds $16 Billion to Stimulus; GM to Sell Half of Opel; Big Corporate Bankruptcies Surge in 2009; Hedge Funds to Slash 20,000 Jobs; SEC Will Bring Back Uptick Rule

651K jobs lost in Feb…  Dec. and Jan Job losses revised up…  Talking Norway, Canada, Australia… Brazil stealthlike for 3 months… And Now… Today’s Pfennig!