The U.S. dollar extended its recent gains against the major currencies. The euro returned to its break out level near $1.1060 after approaching $1.15 at the end of last week.  In three sessions it has surrendered more than 38% of its bounce off the low set in mid-March.  The 50% retracement comes in just […]

The release of Japan’s GDP data Wednesday gave an encouraging sign for the health of the Japanese economy. The country’s growth domestic product (GDP) expanded an annualized 2.4 percent compared with the previous quarter, passing the 1.5 percent print expected by most economic analysts. In the October-December quarter, the economy expanded 1.5 percent during the […]

USAWatchdog interviewed Hugo Salinas Price, a well-known and highly successful businessman operating in Mexico. Born in the United States, Price is now a passionate advocate for sound money and has been pushing for the Mexican government to adopt monetary silver again. Unfortunately, he sees far too much political pressure against sound money, particularly from the […]

Morningstar, which 20-odd years ago ended its useful coverage of individual foreign stocks from Japan, is now going global again, with a “travel kit for global investors”. Then I went to Chicago to plead with Morningstar to reconsider. Now it has thought better of hiding behind our borders and is telling Americans their stick-to-home portfolios […]

Less than 48 hours after the official launch of the ECB’s celebrated PSPP Q€ initiative (or what we might call ‘Draghi’s descent into delirium’), we examined the program’s structure and noted that full implementation might prove challenging. Citi had already posited a scenario whereby the central bank may be forced to raise the issue cap on non-CAC […]