Which currency is the best performing currency against the US dollar in March?


  • Dollar sell off ends in markets overnight Good day.

And a Tub Thumpin’ Thursday everyone… well, I couldn’t fix my laptop yesterday, but we fixed the problem. My trackpad has gone bad, and by having a Surface laptop I can remove the screen and it becomes a tablet…with a pop-up keyboard that’s easier to use than an iPad. So here I’m using m Surface as a tablet…that doesn’t mean I can write a normal length letter today…. It just means I didn’t pocket you today like I said I would yesterday! Chicago welcomes me this morning with their superb song… Movin’ in….

Well, the dollar seems to be on a slippery slope so far this week…. The Euro continues to climb, and BBDXY lost another 3 index point yesterday to end the day at 1,188.14…too early to think of a selling trend for the Dollar, take it as it is.

Gold finally found a bid yesterday and gained $12.90 on the day to close at $1,933.90, while silver gained 11 cents to end the day at $24.95…

The price of oil was up that day and ended the day with a handful of $107… The 10-year yield fell again, indicating that someone big is buying bonds…

And that’s all I’m going to say about it!

In the night markets last night…. The selling of the dollar has come to an end and the gins in the currencies have declined… Gold is down $3.20 this morning and silver is down 5 cents to start the day today. The price of oil fell $6 in the markets overnight after it was announced that President Biden would announce that one million barrels of oil, per day, would be released from our oil reserves…. OK…. Aren’t your reserves supposed to be used in a crisis? I guess it all depends on your definition of a crisis…huh?

I have to say I guess this is better than the idea I heard about last week which included $100 monthly checks to citizens to help defray gas costs… This idea was simply stupid if you ask me!

Ok earlier this week we saw the 10 year yield at 2.50%…. If you calculated the difference in yields, the loss for these bondholders would be many millions…and now they have nowhere to run…They have to sit and watch bond yields continue to rise at every rate hike the Fed/cabal/Cartel does. I’ll let that sink in to those bondholders who haven’t listened to my bond warnings….

Bill Bonner wrote yesterday “it may not seem like much, but rising yields around the world have already cost bond investors about $5 trillion”.

So… guess which currency is the best performing currency against the dollar in March? If you guessed the Russian rouble… You win this kewpie doll! Ever since Russian President Putin announced that he would price Russian oil in rubles, daily ruble hits have gone down…

In the US Data Cupboard the other day, we saw the house price index rise again in January, just like I said…. Today’s cabinet contains the ADP jobs report and a final GDP revision (4th quarter)… Don’t forget the March Jobs Jamboree is on Friday.

To recap… the dollar continued to sell off yesterday, but in the markets overnight the selling has stalled… Gold is down $3 in early trading today, and the Russian rouvle is the best performing currency this month… Chuck is not a fan of releasing oil reserves..

Here’s your excerpt: “Say what you will about the Germans, they have a distinct hateful relationship to hyperinflation, having been one of the very few ‘developed’ countries to experience it in the not-too-distant past. thanks to Rudy von Havenstein’s application of “The Theory of Modern Money” to the Weimar Republic in 1921 with less than stellar results. Well, Germany could soon enjoy price gains at two (and three) figures very soon.

Asked by the Frankfurter Allgemeine Zeitung about the possibility of double-digit inflation, Volker Wieland, a member of the council of economic advisers to the German government, said that “this cannot be ruled out, especially if Russia stops oil deliveries and gas or if there is a total embargo on imports, then I think inflation rates of that magnitude would be conceivable.

Now, if only Germany hadn’t let its energy policy be determined by an irritable, advertising-obsessed Swedish teenager, and if the country actually had strategic views on how to maintain at least some energy independence, nothing none of this would have happened (as we warned last summer in “Will ESG Trigger Energy Hyperinflation”). Unfortunately, that was not the case.

Surprisingly, Wieland did not entirely blame Putin for Germany’s coming hyperinflation and said that “the future path of inflation is very strongly tied to what the ECB does.” adding that “personally, I would be in favor of faster action and a rapid rise in interest rates“. Which is a great idea, if only the ECB didn’t have a rather abysmal track record of raising rates in an economic meltdown and triggering historic sovereign debt crises in the process.

Apart from the sarcasm of the ECB – which isn’t easy because you can never be sarcastic enough about the world’s most clueless hedge fund central bank – the reason why the subject of German inflation double digits emerged is that analysts earlier in the day were shocked (again) when German headline inflation came in at 7.6% yoy in March, significantly above expectations of the consensus of 6.8%, up from 5.5% in December. »

Chuck again…yes…older Germans will miss the days of the old Bundesbank and their fears of inflation….

Market price 03/31/2022: American style: A$0.7492, 0.6937 kiwi, CA$0.7985, 1.1095 euro, 1.3127 sterling, 1.0810 Swiss, European style: 14, 5131 rand, 8.7419 crown, 9.3148 sek, 333.86 forint, 4.1949 zloty,

22.0303 crowns, 85.43 rubles, 121.75 yen, 1.3540 sings, 7.8294 HKD.

INR 75.43, China 6.3508, peso 119.88, BRL 4.7611, BBDXY 1,191.06,

Dollar Index 98.23, Oil $101.05, 10 Year 2.31%, Silver $24.90, Platinum $990.00,

Palladium $2,548.00, copper $4.74 and gold $1,930.70.

That’s all for today…very weird typing on a tablet….talking weird, did you see the score of the Cardinals VS Nationals game yesterday? Cardinals won 29-8…Cardinals hadn’t scored this many points all spring combined before yesterday…Our Blues won for a second game in a row last night maybe they worked their funk in which they were. I have to start lining up my ducks for my drive home on Saturday… In the famous words of good friend Duane… I don’t want to go home! And with Duane in mind, his favorite band brings us to the finish line today…Steely Dan and their song: FM…Hope you’re having a Tub Thumpin’ Thursday today, and s’ please Be Good To Yourself!

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