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Posted by on Feb 21, 2017 in Dennis Gartman, Market Insight

Then It Was Back to Greece

Then It Was Back to Greece

February 21, 2017 Dennis Gartman is editor and publisher of The Gartman Letter, and strategic advisor of the AdvisorShares Gartman Currency Hedged Gold ETFs (GEUR & GYEN). He regularly contributes to AlphaBaskets and lends his institutional insight to educate advisors and investors about commodities and the forex markets, including about trading gold in different currency terms.   Money is leaving the European Continent as concerns over the fiscal circumstances in Greece are once again at the front and very center stage, but also as concerns grow of the possibility… not a probability, but merely a possibility… that Ms. Le Pen and her National Front Party may actually win the upcoming election in France in late April. Le Pen and the National Front have made it very, very clear that should they win the election they will move to take France out of the Euro and out of the European Union swiftly and completely. This properly frightens capital at the margins in Europe and that capital is looking for safer...

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Posted by on Feb 14, 2017 in Dennis Gartman, Market Insight

US & Japanese Relations:  A Sensible Way Forward

US & Japanese Relations: A Sensible Way Forward

February 13, 2017 Dennis Gartman is editor and publisher of The Gartman Letter, and strategic advisor of the AdvisorShares Gartman Currency Hedged Gold ETFs (GEUR & GYEN). He regularly contributes to AlphaBaskets and lends his institutional insight to educate advisors and investors about commodities and the forex markets, including about trading gold in different currency terms.   The forex market is breathing a sign of collective relief and the dollar is trading quietly on either side of the levels that prevailed and were marked here on Friday following the rather pleasant “summit” meetings over the weekend between Japan’s Prime Minister, Mr. Shinzo Abe, and President Trump. We expand upon that in our “political commentary”, but suffice it to be said that the currency question appears not even to have been brought up at the extended meetings and golf shared by the two political leaders. Instead, the relations between the US and Japan were shown to be on the most stable grounds, with President Trump making it quite clear that...

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Posted by on Feb 6, 2017 in Dennis Gartman, Market Insight

Who Is Sakakibara and Why Does He Say Awful Things About the Yen?

Who Is Sakakibara and Why Does He Say Awful Things About the Yen?

February 6, 2017 Dennis Gartman is editor and publisher of The Gartman Letter, and strategic advisor of the AdvisorShares Gartman Currency Hedged Gold ETFs (GEUR & GYEN). He regularly contributes to AlphaBaskets and lends his institutional insight to educate advisors and investors about commodities and the forex markets, including about trading gold in different currency terms.   We note regarding the Yen that Mr. Eisuke Sakakibara… a gentleman once very commonly referred to as “Mr. Yen” and referred to as such with very good reason for his comments when he was the Vice Deputy of Finance for International Affairs would indeed move the forex market materially and often very materially so; further, he was always one of the true gentleman of the business when he communicated with us… said in an interview with Reuters over the weekend that he’d not be surprised to see the Yen trade below “par” sometime this year! When Mr. Sakakibara speaks, even twenty years after his tenure at the MOF, we pay heed. Why...

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Posted by on Jan 30, 2017 in Dennis Gartman, Market Insight

Executive Action Causes Market Reaction

Executive Action Causes Market Reaction

January 30, 2017 Dennis Gartman is editor and publisher of The Gartman Letter, and strategic advisor of the AdvisorShares Gartman Currency Hedged Gold ETFs (GEUR & GYEN). He regularly contributes to AlphaBaskets and lends his institutional insight to educate advisors and investors about commodities and the forex markets, including about trading gold in different currency terms.   The US dollar is weaker; but has risen from its worst levels as the dealing day moves from Asia to Europe. At one time earlier today in Asian dealing the Yen/dollar had traded all the way to 114.25; it is 114.70 as we write and send TGL to our readers around the world. Further, the EUR had traded all the way to 1.0745 briefly and is now 1.0688, barely above the closing levels Friday in North American dealing. The early dollar weakness was predicated upon dismay amongst global investors evolving out of President Trump’s executive decision to stop any and all access to the US by those foreign nationals… even those with...

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Posted by on Jan 24, 2017 in Dennis Gartman, Market Insight

Trump Speech Reverses Trump Trade?

Trump Speech Reverses Trump Trade?

January 24, 2017 Dennis Gartman is editor and publisher of The Gartman Letter, and strategic advisor of the AdvisorShares Gartman Currency Hedged Gold ETFs (GEUR & GYEN). He regularly contributes to AlphaBaskets and lends his institutional insight to educate advisors and investors about commodities and the forex markets, including about trading gold in different currency terms.   The US dollar has fallen rather sharply and “universally” as the Trump Era has begun and as the world has tended to look rather badly upon the President’s inaugural speech and as he seems to have focused not upon health care, or upon the military or upon Russia, but upon the size of the crowds. Whether this was or is a result of the “press’” antagonism toward the President is another question for another time, but what the world is concerned with is that the President seems concerned about the immaterial. He has more concerns than crowd size… doesn’t he? The President also surprised us… and many others… when he made it...

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Posted by on Jan 17, 2017 in Dennis Gartman, Market Insight

Commodity Divergence

Commodity Divergence

January 17, 2017 Dennis Gartman is editor and publisher of The Gartman Letter, and strategic advisor of the AdvisorShares Gartman Currency Hedged Gold ETFs (GEUR & GYEN). He regularly contributes to AlphaBaskets and lends his institutional insight to educate advisors and investors about commodities and the forex markets, including about trading gold in different currency terms.   Turning to gold it is rather obviously strong and for once it is actually stronger in US dollar terms than it is of the Yen. It is interesting too that gold is firmer as crude oil and base metals prices are weaker, and although some may want to suggest that gold shall eventually succumb to the bearish effects of weak crude and weak base metals, we shall argue instead that gold’s strength in the face of that weakness is all the more impressive. We continue to be impressed with gold’s recent strength in light of the monetary problems still besetting India. India and Indians have been effectively removed from the market in...

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