Quotable
Who can take a sunrise
Sprinkle it in dew
Cover it in chocolate
and a miracle or two?
The candyman
The candyman can
The candyman can cause he mixes it with love and makes the world taste good
Commentary & Analysis
The Candy Man Can...
As you likely know, the euro spiked (is still spiking) to a fresh intermediate-term high today, as the dollar is generally being whacked across the board--but there have been worse days for Mr. Greenie--many of them in fact. The euro is the lead dog today and getting all the press. It's acting quite well in the wake of Mr. Trichet's press conference yesterday after announcing a 25 basis point rate hike as you can see in the chart below:
EURUSD Dailyd made a decision which was likely extremely politically unpalatable. A sign of strength it is perceived; though the not so dirty little reality is the ECB is the central bank for Germany, just as the eurozone is the captive market for Germany. In case you have forgotten, one size fits all in the zone!
Now contrast this to the central banker role being played by Mr. Bernanke on this side of the pond. Ben wants to be everybody's best friend. Heck, he even makes an appearance on the 60-minutes television show to prove to those who have never starred into a Reuters or Bloomberg screen, but don't need to know their houses are unsellable, that yes, he truly is the Candy Man (and remember that remark I made awhile back, about there not being a housing bubble in the US, well, I was only trying to help you). We all know the Candy Man can!
The Candy Man can make risk asset dreams come true. With the right dose of sugar he can turn a barbaric relic into gold and make real wealth and purchasing power vanish in a blink of an eye....
Gold vs. US Dollar Index Weekly:
Who can take a sunrise
Sprinkle it in dew
Cover it in chocolate
and a miracle or two?
The candyman
The candyman can
The candyman can cause he mixes it with love and makes the world taste good
Commentary & Analysis
The Candy Man Can...
As you likely know, the euro spiked (is still spiking) to a fresh intermediate-term high today, as the dollar is generally being whacked across the board--but there have been worse days for Mr. Greenie--many of them in fact. The euro is the lead dog today and getting all the press. It's acting quite well in the wake of Mr. Trichet's press conference yesterday after announcing a 25 basis point rate hike as you can see in the chart below:
EURUSD Dailyd made a decision which was likely extremely politically unpalatable. A sign of strength it is perceived; though the not so dirty little reality is the ECB is the central bank for Germany, just as the eurozone is the captive market for Germany. In case you have forgotten, one size fits all in the zone!
Now contrast this to the central banker role being played by Mr. Bernanke on this side of the pond. Ben wants to be everybody's best friend. Heck, he even makes an appearance on the 60-minutes television show to prove to those who have never starred into a Reuters or Bloomberg screen, but don't need to know their houses are unsellable, that yes, he truly is the Candy Man (and remember that remark I made awhile back, about there not being a housing bubble in the US, well, I was only trying to help you). We all know the Candy Man can!
The Candy Man can make risk asset dreams come true. With the right dose of sugar he can turn a barbaric relic into gold and make real wealth and purchasing power vanish in a blink of an eye....
Gold vs. US Dollar Index Weekly:
No comments:
Post a Comment