July 2010

Highlights The US dollar is broadly mixed as the news stream buffets the foreign exchange market.  A better than expected reception to  the Greek T-bill auction helped mitigate the reaction to Moody’s decision to cut Portugal’s…

The credit rating agency Moody's has cut the credit rating of Portugal two notches to A1 from Aa2. While the move is not entirely unexpected, it is having a negative effect on the euro. Expect Marc Chandler to say something about this in…

John Hussman is out with another good piece this week in which he deconstructs all of the short-termism and technical analysis dominating the talk of market followers in the US. He opens saying: Perhaps the best way to begin this week's…

According to Ralph Atkins writing in the Financial Times last week, “the pace of Germany’s recovery is helping dispel fears of a “double dip” recession across the continent as a result of the crisis over public finances in southern European…

Wallace Tuberville writes that if we let Goldman go back to its old ways, no one wins. This post originally appeared at New Deal 2.0. William D. Cohan’s op-ed piece in the July 7th New York Times had the same title as this article, but for…

Canada reported incredibly strong jobs data before the weekend.  Canada grew 93.2k jobs, more than 4 times more than than market expected.  It grew almost 50k full time jobs.  These are impressive numbers and renews…

Topic of the Day: The Federal Reserve The Fed Is Fractured| Pragmatic Capitalism Paul Krugman - The Feckless Fed - NYTimes.com The Usual Fare US is not AAA in new Chinese-made ratings -- Shanghai Daily BBC News - Santander…

Highlights The US dollar is generally firmer against most of the major and emerging market currencies to start the new week.  It has staged a reversal of sorts before the weekend and there has been follow through today.  The euro…

Paul Volcker Pushes for Reform, and Regrets His Past Silence - NYTimes.com World Cup final: Wesley Sneijder set to win place in Holland hearts | Simon Kuper | Football | guardian.co.uk World Cup 2010: Holland's new football…

By Jeff Clark, Senior Editor, Casey’s Gold & Resource Report One of the big hints that gold stocks will be ready for take-off is when they stop following the broader markets and strictly track gold, particularly if the market falls and…