What in the hell is this dollar strength today. There isn't one piece of good new to prop it up so what does that leave? ah ha, the PPT of course. Am I nuts? What am I missing?
While I have no proof, given the large decline of the Yen relative to the dollar (almost 3 percent in the past few weeks), I would say that the bank of Japan has intervened to prop up the dollar, and devalue the Yen to sell us more Hondas.
It seems the gold market has decided to look past the weak jobs number and focus instead on the stonger than expected ISM data which also had a wiff of inflation. The continuing oil spike dosn't help. Greenspan is determined to stop an out break of inflation and would like to deflate the oil and housing bubbles, he will raise rates until something breaks.
its what i have seen best referred to as "stupid interest rate talk", that rising inflation will spur short term rates strengthening the $.
we know thats BS given the trade, current account and budget metrics, dont we.........
i am squirming with impatience but confident the worm will turn soon enough.
this morning was total BS. All the numbers were poor. Even of the 110K jobs, 174K were derived from the birth/death model adjustment Even the ISM's prices paid index showed a reading of 73 points, up from 65.5 in February and well above economist forecasts of 66. While the Euro is no solid alternative, this morning's trading pattern in currencies has the PPT's finger prints all over it.
Right on! The PPT (banks,media,insiders,and brokers)will do ANYTHING to keep this mkt levitating while pushing their private acct/fix SS plan. Meanwhile a still relatively strong dollar allows militarism and empire to be bankrolled via the printing press.These scams will last until market forces overwhelm manipulation (I hope to live that long).
"The financial markets are endlessly fascinating to study, but it is really not very often that we are blessed to witness extremes never before seen in history. Given markets' well-documented abhorrence of extremes and their ironclad tendencies to mean revert, extremes usually mark stellar trading opportunities.
In late March the venerable gold/oil ratio hit an all-time low, an abysmal 7.7. The math behind this revelation is simple, it just means that an ounce of gold now costs only 7.7x as much as a barrel of crude oil, each priced in dollars. From a speculation perspective however, this never-before-witnessed extreme has profound implications"
<< this morning's trading pattern in currencies has the PPT's finger prints all over it. >>
No kidding arnold. And the BoJ looks like they're right in there with the PPT. This is absolute crap.