March 20, 2019
* Currencies and metals didn’t move much on Tuesday…
* What does currencies should we be looking to buy?
Good Day… and a Wonderful Wednesday to you! Well, I told you yesterday that if things didn’t change in the “not much has happened or going on” scenario, that I would pack up and take a mini-vacation, in hopes that this all changes while I’m gone… Well, here I am, and things really didn’t change much yesterday… I’ll run through it, very quickly, and then head out for the week! The Outlaws greet me this morning with their song: There Goes Another Love Song…
Well, the deluge of rain came as advertised yesterday, and last night… It just didn’t stop! I hear it’s supposed to stop this morning, which would be fine with me, for I have tickets to the Cardinals & Marlins game today at 1:05… And tomorrow, is the day that most of the Cardinals fans that attend these spring trainging games have been waiting for… The Yankees come to Roger Dean… I sure hope they bring their A Team…
So, here we go again… There wasn’t much movement in the currencies yesterday… for those of you keeping score at home, the Dollar Index was 96.39 yesterday morning and when I checked it last night it was 96.45… The price of Oil slipped below $59 and Gold couldn’t find a bid all day… My good friend, the Retirementor, Dennis Miller, is sending out his letter tomorrow, to his subscribers, an interview with a man that I know, by the name of Rob Vrijhof, managing partner of Weber Hartmann Vrijhof & Partners Ltd., Swiss international asset managers. And while I don’t want to steal Dennis’ thunder tomorrow when his letter goes out, I will steal something that Rob had to say about currencies that I agree with wholeheartedly…
He talks about currencies that his firm is investing in and tracking… I won’t give away the store here, so you need to go to www.milleronthemoney.com and sign up to see what Rob had to say… I’ll give you one as a tease… He likes the Russian ruble… Man, where have I heard that before? HA!
Well, Gold couldn’t get out of its own way yesterday but did manage to close up $2 bucks and change, but has given that right back and more in the early trading today… The Big mover yesterday was Palladium, again, as it hit a new high of $1,571… And in the early trading today it’s up another $7… and at one point overnight it hit $1,600, according to Bloomberg… Crazy pricing in Palladium folks, and as I’ve told you, they say it’s all due to a shortage of the metal…
The U.S. Data Cupboard had January Factory Orders on a delayed basis print yesterday, and it was just like 99% of the other pieces of data that we’ve tracked… It fell way short of expectations, coming in at only 0.1%, instead of 0.4%… All in all it’s just another brick in the wall…
Just a friendly neighborhood spiderman reminder, that the Fed’s FOMC meets this afternoon… I don’t think they’ll do anything rash, but they could say things that get the markets moving…
And in place of a FWIW article today I have a quote from famous economist, David Rosenberg, from his Twitter account… Take it away Rosey!
“The bulls like to use Dec. 24 as the starting point on how right they’ve been without realizing that since the first peak above 2,800 in Jan. ’18, the SPX has generated a total return of 1%; the return on the 10-year note is 4%. In the land of low returns, bonds are still king!”
Currencies today 3/20/19… American Style: A$.7091, kiwi .6844, C$ .7560, euro 1.1351, sterling 1.3230, Swiss $1.0008, European Style: rand 14.5168, krone 8.5376, SEL 9.1885, forint 275.45, zloty 3.7760, koruna 22.5898, RUB 64.35, yen 111.55, sing 1.3507, HKD 7.8498, INR 68.80, China 6.7107, peso 19.02, BRL 3.7853, Dollar Index 96.44, Oil $58.83, 10-year 2.60%, Silver $15.30, Platinum $861.83, Palladium $1,600.71, and Gold… $1,303.03
That’s it for today, tomorrow and this week… And I’m not going to apologize for the stoppage this week, as there’s just not enough going on that 1. I haven’t already covered like a cheap suit, and 2. You don’t want to read the same thing every day… I’m waiting for the sunrise this morning, in hopes that it’s not too cloudy out to see it… (it’s way too dark now to tell) Well, Friday this week is my birthday… I used to not get all excited as a school girl about my birthday… but since I was diagnosed with Stage 4 metastatic cancer in 2007, I get somewhat happy on my Birthday, for it’s another year I’ve beaten this awful disease… So, Happy Birthday to me on Friday… And with that, Triumph takes us to the finish line today with their song: Fight The Good Fight… Which is exactly what I’ve done for 12 years! I hope you have a Wonderful Wednesday, and rest of the week, and please Be Good To Yourself!
Chuck Butler