- currencies and metals rally on Tuesday
- It’s a STUPID CPI Day, folks…
Good Day… And a Woderful Wednesday to you… Once again, I couldn’t sleep for the life of me last night, so once again, I’m draggin’ the line (Tommy James) after going back to sleep yesterday morning, I talked to my doctor back home, and she advised me to go a lab and have some tests done… So, I did what I was told to do, and then went to the ballgame, of which I wish I hadn’t! U guess I’ll hear today just what is up with me… The good news that hit me yesterday, was that a large piece of the tumor in my jaw, fell out, so at least the infusions are working…. Bob Marley and the Wailers greet me this morning with their song 3 Little Birds…
Well, I came back to write again yesterday, and the dollar continued to get sold… The BBDXY lost 2 Index Points as the fear of a global Trade War continues to weight on the dollar. The euro has risen to a 1.09 handle this morning… That’s a long way from parity to the dollar now, isn’t it? The dollar has been leading the stock jockeys down the trail of tears lately, as the fear of a Global depression hangs over the U.S. like the Sword of Damocles… And when there is fear in stocks, Gold seems, historically, to do good… And yesterday Gold gained $3, and Silver gained 39 cents. To climb up to $33…
Now we al know that the last time silver reached $33 and all the prognosticators were out singing Silver’s forecast, the short paper trades stepped in and took Silver down BIG TIME…. So, boys… Let’s just keep our traps shut about Silver’s rise this time, eh?
The Price of Oil continues to be beaten down , and it ended the day yesterday trading with a $66 handle… A cheaper price for gas will certainly help the summer driving season that will be upon us soon… The 10-year Treasury’s yield continues to fall ending yesterday with a 4.27% yield… I think the markets are thinking that the Fed heads might be thinking about cutting rates again… The last time the bond boys called the Fed Head’s bluff… But it appears that no such calling out is being done this time.
In the overnight markets last night… Well, I take that back… The 10-year’s yield rose 3 basis points in the overnight markets and trades this morning with s 4.30% yield… Maybe the bon boys were just waiting for the right moment to lash out at the Treasury… I guess we’ll have to wait-n-see, eh?
The dollar rallied overnight and gained back those 2 index points it lost in yesterday’s U.S. session. It seems that the POTUS is taking back his threats on Canadian tariffs… C’Mon pick a lane will you Mr. President…
The Price of Gold starts today flat as a pancake (Head East) but Silver is up 11-cents to start our day today… And I’m really liking the strong move that Silver has made in the past week, after the last engineered takedown… And Copper is back to moving toward $5…
Well, if you weren’t paying attention.. The POTUS has stopped payments to Ukraine… I can’t say that I blame him, in that there’s been no true accounting as to where the Billions of dollars that we’ve previously have given to them has been spent…
Today is the STUPID CPI print day for Feb. The experts have the STUPID CPI rising .3% in the month and remaining at 3.3% for the year… The markets await this data print like Christmas morning, and they are wrong to do so, but I’ve been through that many times previously, so I won’t bore you here again…
There’s nothing else on the docket in the Data Cupboard today, so it’s the STUPID CPI and nothing else, so the print will dominate the news wires.. Get ready, set, Go!
I’m still not even close to being good this morning, so, this Pfennig will be short-n-sweet too… Sorry, but I can’t help it…
To recap… The dollar continued to get sold yesterday but rallied back in the overnight markets last night. Gold & Silver had decent days yesterday, with Silver breaching $33 once again. The POTUS is walking back the tariff threats to Canada… Chuck just wants the POTUS to pick a lane and stay there, all this back and forth is giving him a rash!
For What It’s Worth… Welll the BLS will never see these layoffs because the work with blinders on, but you and me here they are and they are not pretty… This is a list of the 100 companies in the U.S that are announcing workers layoffs and it can be found here: Full List of Companies Laying Off Employees in March – Newsweek
Or, here’s your snippet: “Many companies have announced they will be laying off employees in March.
Companies are required to send out a Worker Adjustment and Retraining Notification Act (WARN) notice before implementing mass layoffs. More than 90 employers are planning to let workers go in March, according to WARNTracker.com.
As companies deal with inflation and shifting consumer demand, many have faced financial strife in the years following the pandemic.
While tech layoffs have been some of the most commonly discussed in the news, workers are being let go industry-wide in efforts by companies to boost profits.
Many companies have announced they will be laying off employees in March.
As companies deal with inflation and shifting consumer demand, many have faced financial strife in the years following the pandemic.
While tech layoffs have been some of the most commonly discussed in the news, workers are being let go industry-wide in efforts by companies to boost profits.
The number of employees laid off per company varies from between one and 10 to up to 500.
While Walgreens is potentially laying off hundreds of employees across California, other companies like fabric and crafts retailer Joann face total store shutdowns, eliminating their workforce from distribution and fulfillment centers.
Companies are required to send out a Worker Adjustment and Retraining Notification Act (WARN) notice before implementing mass layoffs. More than 90 employers are planning to let workers go in March, according to WARNTracker.com.”
Chuck again… Well, you know that I don’t have to space and time to list all 100 companies, but if you click the link above you can see them in all their glory…
Market Prices 3/12/2025: American Style: A$ .6289, kiwi .5708, C$ .6936, euro 1.0904, sterling 1.2949, Swiss $1.1332, European Style: rand 18.3382, krone 10.6677, SEK 10.0938, forint 367.34, zloty 3.8467, koruna 22.9357, RUB 86.69, yen 148.70, sing 1.3337, HKD 7.7693, INR 87.20, China 7.2422, peso 20.25, BRL 5.8105, BBDXY 1,267, Dollar Index 103.57, Oil $66.89, 10-year 4.30%, Silver $33.11, Platinum $992.00, Palladium $974.00, Copper $4.87, and Gold… $2,916.57
That’s it for today… I can’t believe I got through this, sort of, that is… The sunrise this morning was at its best, with no marine layer to hide its entry from out of the ocean… It’ll be a warm day at the ballpark today, that is if I can muster up and get there! My beloved Cardinals can’t hit when it counts in the games I’ve watched, I sure that doesn’t follow them north… I think the starting pitching has been decent, but all the young guys they keep trotting out there to relieve just haven’t cut the mustard… UGH! Steely Dan takes us to the finish line today with their great song: Deacon Blues… I hope you have a Wonderful Wednesday today, and please Be Good To Yourself!
Chuck