- The dollar continued to rally on Tuesday
- Gold/Silver were allowed to recover a bit on Tuesday
Good Day… And a Wonderful Wednesday to you! Another day… Another dollar rally in the books.. Crazy, I know, but it is what it is… The MLB Playoffs began yesterday, and Atlanta, NY Yankees, and the Padres all won their best of 3 Wild Card games… I went to be long before the Padres/Cubs game, but saw the result at some point in the night as I was awake for most of it… The White Sox won! And in baseball, it’s some freaky %, of the time that when you win the first of these games, you’ll end up winning the best of 3 Series… For the Sox they’re hoping that it stays true! The Allman Brothers greet me this morning with their super great song: Melissa…
Well, I already spilled the beans above by telling you that the dollar continued its rally yesterday… The dollar gained 2 index points in the BBDXY, which ended the day at 1,218…
Gold/Silver found a bid early and often during the day and ended up with gains for the two…. Gold ended the day 54-Cents and Silver ended the day up $1.00… Gold closed at $4,170 and Silver $61.54… Could this be the end for now that is, of the STPs shorting these two metals? Well, they’ll be there no matter what, as Gold/Silver both were higher on the day, but the SPT’s were there to make sure that the two stayed below their respective 200 Day Moving Avg…
Even Copper was allowed to show a gain on the day… UGH
The price of Oil slipped again. After rallying all last week, the price of Oil ended the day at $89.58. The 10-year Treasury has gone through the Fed buying and come out on the other side at 5.23%…
In the overnight markets last night… The dollar seemed to be drifting lower and lost in the woods… The BBDXY starts today down 1 index point to 1,217… Gold is up this morning, but Silver is down… I woke up in the middle of the night, and couldn’t get back to sleep, so I looked at the metals and Gold was up $12 and Silver was up too, but then when I woke up this morning, after going back to bed, Silver had been sold by 81-cents… Gold is still up and has gained $16 to start the day.
The price of Oil recovered a bit in the last 24 hours and starts today with a $90 handle… While the 10-year’s yield was up to 5.29% before the Fed/ Cabal / Cartel showed up to buy the bond… and so, it settled at 5.23% to start our day…
You know it occurred to me yesterday that I haven’t talked about the currencies much lately… Well, sometime ago, I told you I was going to concentrate of writing around Gold and the dollar… For the currencies are not going to find a rally flag to wave, unless the dollar is having problems… Of course there are exceptions to that rule, and right now the Chinese renminbi is on the rally tracs as is the dollar…
So, if you didn’t believe me when I wrote about switching to Gold/ Silver and the dollar, maybe you do now… But, I’ll try to remedy that today…
This has been a brutal month for bonds, and currencies… and the rise in yields on Treasuries it has put pressure on the dollar to rise, and it has… thus leaving the currencies in its wake… Except one currency, the Chinese renminbi… It used to be a funny thing (not funny ha ha) to watch every time the leaders of the U.S. and China were scheduled to meet. The Chinese renminbi would soften and get weaker to show the U.S. they are doing what the U.S. wants them to do, and that is weaken the renminbi to allow U.S. exports to be better priced in China…
But this time, was different… The renminbi continued to get stronger VS the dollar, and I don’t think that the pair was discussed in the meeting between the POTUS and Chinese leader Xi…. So, the level of the currency is a thing of the past for these two… Hmmm….
The U.K. Received some good news economically as their latest GDP report showed the economy growing faster than anticipated… Sterling couldn’t gain VS the dollar on the news, but it did hit a 6-week high VS the euro…
And in Japan, the leaders of the Country continue to warn the public about shorting the yen and buying a higher yielding currency… The Carry Trade as it is called… I think that the yen is trouble, and traders are looking to take it down VS the dollar, but are waiting for the leaders talk to die down, as it will with Japan…
And do I have something different for you in the FWIW section today, you won’t want to miss this… I’m just saying…
The U.S. Data Cupboard yesterday had the stupid Consumer Confidence report for Sept, and it was awful… The Report had the biggest drop in a month since April 2014! Consumer appraisals of current business conditions became negative for the first time since September 2024… So, for once in a blue moon, Consumers got it right… I’m just saying… The Case/Shiller Home Price Index for July, came in at 0%… So, housing stopped its rise, and didn’t gain anything in July… And that’s before the rate hike!
The U.S. Data Cupboard is chock-full-o-data today… First up is the ADP Employment Report, and they forecasting 68,000 jobs for Sept… Then we’ll see the color of Personal Income and Spending… Then the PCE will print for Aug. Which was prior to the FOMC’s rate hike, so the outlook for this data is for the PCE on an annual basis to remain at 3.7%… We’ll also see the color of Retail Inventories, in August…
To recap… The dollar continued to rally and added 2 index points yesterday… Gold/Silver found a bid and was allowed to gain on the day… And today, is chock-full-o-data so get ready for the lies and videotape to come forward…
For What It’s Worth… This article is very interesting in that what if you were Mr. Rogers’ neighbor and you liked him? Oh well, you’ll have to read it to get what I’m asking… The article can be found here: John Rogers Fed China espionage case: What happened
Or, here’s your snippet: “John Harold Rogers was walking Prada, his tiny spaniel, past a school bus stop in his suburban Washington neighborhood when FBI agents surrounded him. They handcuffed the former senior Federal Reserve official and took him into custody to face charges of spying for China.
An agent took Prada’s leash, and investigators from multiple federal agencies began an intensive search of Rogers’ house.
The now 65-year-old economist was arrested in January 2025, days before he was set to travel to China with his wife, a Chinese national, and their 6-year-old daughter. Investigators believed that Rogers passed information about the Fed to a Chinese government spy, who, over more than a decade, helped him with his career, his finances and his marriage to a woman 24 years his junior.
Rogers’ descent from senior Fed official to espionage suspect appears to have been driven by his desire for female companionship. This desire was exploited by a Chinese government agent, who became increasingly entwined in Rogers’ professional and personal life. Rogers’ indiscretion was later exploited by online blackmail scammers, ultimately leading to his downfall.
“The facts of this case read like a spy novel,” federal prosecutor Nicholas Hunter told the jury at Rogers’ trial in 2026. “There was sex. There was money, manipulation, secret meetings with shady characters in China, fake identities, lies, trickery, and deceit. But this was real life. The events of this case all happened.”
The crucial question, though, was whether Rogers was a spy or a dupe for Chinese intelligence. His lawyers argued that he didn’t pass any information of value to the Chinese and that he was just a naive academic who got caught up in espionage.”
Chuck Again… this is a very interesting article, so if you have time go ahead and click on the link above and read it in its entirety…
Market Prices 9/30/2026: American Style: A$ .6971, kiwi .5646, C$ .7056, euro 1.1354, sterling 1.3290, Swiss $1.1981, European Style: rand 16.3942, krone 9.5957, SEK 9.9837, forint 322.54, zloty 3.8471, koruna 21.5205, RUB 83.18, yen 157.05, sing 1.2770, HKD 7.8459, INR 95.82, China 6.7043, peso 18.18, BRL 5.2047, BBDXY 1,217, Dollar Index 101.21, Oil $90.74, 10-year 5.23%, Silver $ 60.77, Platinum $1,711.00, Platinum $1,237.00, Copper $6.62, and Gold… $4,186
That’s it for today… The dermatologist froze 8 spots on my scalp the other day and did that hurt! The sent me a cream to apply to my bald head 2x a day and hopefully, all the spots will go away, and I’ll be left with a smooth scalp… with no chances of any of the spots turning into cancer! It’ll take a couple of Months before I know… By then, I’ll be getting ready for my winter stay at my winter home in S. Florida… Dawn came to the house on Sunday, and she looked much better after her surgery… And Alex & Grace brought their baby son over and we had a ball trying to get him to “talk”…. Emerson, Lake, and Palmer take us to the finish line today with their song: Still, You Turn Me On…. I hope you have a Wonderful Wednesday today, and Please Be Good To Yourself!
Chuck Butler