Chuba Akpom: Hammers Ready to Ward off Reims’ Competition

first_imgChuba Akpom In spite of West Ham having assembled a decent team at the beginning of the season, putting the ball behind the goalkeepers have been the bane of the club so far. To resolve the challenge, Coach Manuel Pellegrini is turning his attention to PAOK Athens’ Nigerian striker Chuba Akpom to bolster his striking force, but faces competition from German and French top-flight teams With a paltry 17 goals in 15 matches, English Premier League club West Ham are battling relegation in spite of having assembled a decent team at the beginning of the season and as a way out the East London Club  are looking to sign PAOK’s Nigerian striker Chuba Akpom but face competition from German and French top-flight teams.The Hammers are said to have enquired about the availability of the former Arsenal starlet who has made just three starts in the Greek Super League this season from a possible 12. West Ham signing Akpom would ease the goalscoring burden on Sebastien Haller who has failed to find the net in his last six appearances in the Premier League, while another summer signing, Albian Ajeti, has yet to open his account after six games.However, French Ligue 1 club Reims and Bundesliga outfit Cologne are also interested in a move for the Hale End Academy product.Akpom was on the books of West Ham’s London rivals Arsenal for 16 years before sealing a switch to PAOK in the summer of 2018.With his contract expiring at the end of next season, it has been claimed that the 24-year-old is not interested in extending his stay in Thessaloniki because he’s frustrated by his limited playing opportunities this term.A lot of Hammers fans will want to see Haller, who was dropped to the bench in the recent win against Chelsea at Stamford Bridge, starting upfront with a partner in a new system. In that aforementioned win over Chelsea, Michail Antonio started as a striker and he had Felipe Anderson behind him in the 10 role in a lesser-seen 4-4-1-1 shape.So far this season, the common set-ups that Manuel Pellegrini has opted to use are the 4-2-3-1 and the 4-1-4-1. At no point has he gone for a two upfront, and that could well be because aside from Haller the only other natural striker is Albian Ajeti, the raw Swiss forward signed this summer.With that in mind, bringing in a new striker looks to be something Pellegrini wants, and reports claim that the Hammers are looking into bringing an ex-Arsenal striker to the club, and he’s a man who recently went invincible.That man is Chuba Akpom. The 24-year-old is currently plying his trade in Greece with PAOK Salonika but has recently been left out of the side, starting just three league games this season so far, and is reportedly uninterested in signing a new contract.The Irons wanted Akpom over the summer, and after missing out on the rapid front-man back then, Pellegrini is keen to go back in for his man in the mid-season window, although he could face competition for Akpom from Ligue 1 Reims and German side Cologne.Earlier this year, the 23-year-old goal poacher revealed his intention of featuring for the Super Eagles at senior level and has turned his back on England to play international football for Nigeria.Born and raised in the European country, Akpom has represented England at every youth level between U-16 and U-21, featuring 41 times and scoring 18 goals. However, Akpom disclosed he is swapping allegiances permanently, after giving the issue a great deal of thought.“I’ve only just recently switched my allegiance, so I’ve signed the documents and hopefully in the next few weeks it will be approved to enable me to play for Nigeria,” he told BBC Sport.“I’ve been wanting to do that for many years now but not many people know this. It’s just been a matter of sorting it out, which is now in a process. I’m looking forward to it. It was a personal decision. I’m Nigerian and my whole family feels very Nigerian and it will be nice to represent Nigeria.”Akpom had trained with Gernot Rohr’s men at Barnet in March 2017, and he is excited with the prospect of linking up his childhood friend, Alex Iwobi.“It will also be nice to link up with Alex Iwobi again and play for the national team. We started playing when we were younger together and to make that step to play for the national team together will be amazing,” he continued.“I wasn’t surprised because at the time he wasn’t playing for England, he came out of nowhere and he started playing for Arsenal and from there he just progressed, so I wasn’t surprised when he picked to play for Nigeria.“It was the better decision to make, now he’s played in the World Cup and the Africa Cup of Nations. I’ve always said that I’d like to play with him again for Nigeria, we’ve always spoke about that.“We’ve played together since we were five and six years old, we grew up together. It took me a while to settle down and to get used to the environment in Greece. Going to play abroad and in another league has helped me, but I hope to take my career to the next level with Nigeria.”Before joining the Greek Super League outfit, the 23-year-old was sent on loan at Brentford, Coventry City, Nottingham Forrest, Hull City, Brighton & Hove Albion, and Sint-Truiden following his inability to get regular action at his boyhood club, Arsenal.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Women’s Basketball Falls At Indiana State, 68-53

first_imgStory Links at UNI 2/19/2016 – 7:00 PM Box Score (PDF) Next Game: Full Schedule Roster Preview Box Score (HTML) Live Stats ESPN 1350 The Valley On ESPN 3 Listen Live Watch Live TERRE HAUTE, Ind. – Indiana State made 10 three-pointers to help defeat the Drake University women’s basketball, 68-53, Sunday afternoon at the Hulman Center. Junior Lizzy Wendell (Blue Springs, Mo.) scored a team-high 18 points for Drake (17-7, 10-3 MVC) while adding three steals. Sophomore Maddy Dean (Jordan, Minn.) tallied 13 points and pulled down 10 rebounds to record her sixth double-double of the season. Junior Caitlin Ingle (Runnells, Iowa) had seven points, six rebounds and three assists. Drake had its five-game winning streak snapped as the Bulldogs struggled to shoot the basketball finishing at 30.9 percent (17-of-55) from the floor and made just three three-pointers (3-of-20). Ashley Taia was one of four players to score double digits for Indiana State (10-13, 6-6 MVC), finishing with a team-high 17 points, including making five three pointers. In the second quarter with the offense struggling for the Bulldogs they turned to defense. Holding Indiana State scoreless for the final 5:39 of the quarter and along with a 6-0 closing run helped Drake kept the deficit to just five points at halftime as the Sycamores led 28-23. The 23 points at halftime was the lowest first half total all season for the team. Drake couldn’t contain the momentum it took into halftime as Indiana State used an 11-2 scoring run at the start of the third quarter to take control of the game. Cierra Ceazar made a layup to put Indiana State ahead 39-25 at the 6:53 mark. Later, the Bulldogs twice cut their deficit to single digits, but the Sycamores kept answering with baskets. Drake had a sluggish start to the game committing seven turnovers and shooting just 36 percent from the floor in the first quarter. Indiana State capitalized on the offensive glass scoring 10 second chance points helping it lead 19-12 after one quarter. Drake has just one game next week as the Bulldogs will travel to Cedar Falls, Iowa to play UNI on Feb. 19. Tipoff is set for 7 p.m. and will broadcast via On The Valley On ESPN3. Print Friendly Versionlast_img read more

Man injured in Letterkenny hammer attack – two serious assaults at weekend

first_imgA man sustained serious injuries to his head after being struck by a hammer in Letterkenny at the weekend.The man was set upon at around 1am on Sunday morning in the Pearse Road area, close to the Riverside apartments.A man is believed to have been attacked by two males, who used weapons, including a hammer, during the course of the attack. Garda Rafferty asked in a weekly community alert for anyone who lives in the area and who saw or heard anything to make contact with Gardaí at Letterkenny on 074-9167100 or the Garda Confidential Line on 1800-666-111.Gardaí are appealing for witnesses to two serious assaults in Letterkenny in the early hours of Sunday morning.It is not believed that the two are connected.At around 4.30am, a male was set upon at Oldtown Road. The man was waiting on a lift at Lower Main Street when he was approach by a group of makes and one female. He was verbally abused before being attacked at Old Town Road where he received ‘quite a few injuries’, Garda Rafferty said.Again, witnesses are asked to contact Gardaí at Letterkenny on 074-9167100 or the Garda Confidential Line on 1800-666-111.Man injured in Letterkenny hammer attack – two serious assaults at weekend was last modified: April 17th, 2019 by Chris McNultyShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:assaultGardaiHAMMERletterkennyLetterkenny GardaiOld Town RoadPearse Roadlast_img read more

Africa must ensure it is an integral partner on global agenda

first_imgChanges in today’s global landscape require emerging markets to consider how they must shape their own future, writes Brand South Africa CEO Dr Kingsley Makhubela. Many countries in the developed world have focused their efforts and resources inwards as a result of challenging economic times.Africa’s ability to trade and do business with itself is one of, if not the greatest opportunity for economic growth. (Image: Priya Pitamber)There is a danger that a shift away from emerging markets will negatively impact the global economy’s future ability to grow.This is especially critical for Africa, given its growing integration into the global economy in recent years. In order to mitigate this, Africa must take steps to secure its own share of global economic growth. And we must be able to sustain the economic growth of Africa ourselves.Yet the greatest opportunity to realise its growth potential is often overlooked, despite lying within the continent – Africa’s ability to trade and do business with itself. What is required is an inward and outward strategy acting in tandem; outwardly cementing Africa’s place in the global economy through foreign investment and improved trading links; while internally driving regional trade integration.It is no coincidence that Africa’s recent growth, epitomised by the “Africa rising” label was in part realised due to increased levels of foreign direct investment. Improvements in fiscal policies, governance and regulatory frameworks, along with a move to diversify economies away from Africa’s traditional commodities-biased economies presented greater opportunities to foreign investors.If Africa is going to capitalise on this base, it needs to work together to collaborate on its shared future. Africa’s development must be underpinned by further regional integration and trade liberalisation.While the rest of the world becomes increasing fractured and disparate, it is time for Africa to create ways to better integrate its fragmented markets which have long constrained growth and provided barriers to trade.World Bank statistics put intra-African trade at just 11% of the continent’s total trade between 2007 and 2011. In 2015, intra-Africa trade was worth just USD 170-million, according to the same institution’s figures when the potential stands at trillions of dollars.To collectively succeed, individual governments must work towards a regional imperative if Africa’s economies are to be impacted in a way that drives sustainable and inclusive growth for the continent as a whole. These regional trading corridors cannot work in isolation but must be scalable to improve connectivity across the African continent.This approach has been championed by such initiatives as the African Union’s Continental Free Trade Area. The United Nations Conference on Trade and Development (UNCTAD) estimates that implementation of the Continental Free Trade Area (CFTA) will nearly double intra-Africa trade by early next decade.We are seeing positive results from some regional trading corridors such as Southern African Development Community (SADC), Economic Community of West African States (ECOWAS) and East African Community (EAC), but for Africa to be greater than the sum of its parts, we must learn to work together. This includes harmonising development and economic policies, regulation, market structure and governance, along with their implementation.Any regional initiative will need to be accompanied by huge investments in cross-border infrastructure. The African Development Bank estimates the continent would need to spend an additional USD 40-billion a year on infrastructure to turn around its current deficits and keep pace with economic growth.The rising trend of urbanisation is only serving to put pressure on an already inadequate infrastructure and demonstrate the urgent need for greater investment if living standards for Africa’s growing population are to rise. Conversely, the benefit of Africa’s growing population could help facilitate regional trade growth. A customer base of nearly one billion people provides the opportunity for not only regional opportunities, but access to the broader African market if only the continent’s industrial development plans can serve to improve productivity capacity.If we are looking to the rest of the world to show faith in the African growth story, then as Africans ourselves, we must demonstrate our own commitment. A collaborative approach to Africa’s own growth story driven by the continent itself will make it a stronger contender globally.South Africa is in the unique position of holding membership to several multilateral fora. As we take over the BRICS presidency for 2018 and as the only permanent African member of the G20, it is our responsibility to champion the case for Africa and its agenda by being at the nexus of discussions with our international counterparts. Moreover, Africa’s significance to our own economic future cannot be underestimated.We can reap the rewards of Africa’s tandem approach to growth. South Africa’s track record in doing international business makes its natural access point into Africa for the rest of the world. But we must have a clear strategy in our approach to Africa to ensure we also become part of the continent’s growth story.  South Africa must continue to cultivate its role in facilitating positively impacts for Africa as this is where our own long-term economic success should lie.Would you like to use this article in your publication or on your website? See Using Brand South Africa material.This article was first published on the World Economic Forum website.last_img read more

Olympic champion among 4 Thai weightlifters to test positive

first_imgMOST READ Private companies step in to help SEA Games hosting The IWF said all world championship competitors’ tests initially came back clean, but the Thai cases followed extra analysis of certain “target” athletes “using the most sophisticated available technique” at a German lab.“The IWF remains committed to implement the most advanced testing techniques to ensure that the very small minority who cheat are identified and sanctioned,” the federation said.The IWF has previously tried to fight doping by banning countries with the most cases and reducing their Olympic qualification spots. Russia and China were among nine countries banned from international weightlifting for a year from 2017, but have since returned to competition.ADVERTISEMENT PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss FILE – In this Saturday, Aug. 6, 2016 file photo, Sopita Tanasan of Thailand, competes in the women’s 48kg weightlifting competition at the 2016 Summer Olympics in Rio de Janeiro, Brazil. Tanasan won the gold medal. Olympic gold medalist Sopita Tanasan with two world champion weightlifters are among four Thai weightlifters to test positive for banned steroids, the International Weightlifting Federation announced on Tuesday Jan. 22, 2019. (AP Photo/Mike Groll, File)BUDAPEST, Hungary — An Olympic champion was among four Thai weightlifters to test positive for doping, the International Weightlifting Federation said Tuesday.Sopita Tanasan, who won gold at the 2016 Rio de Janeiro Games, tested positive for steroids and artificial testosterone after finishing fourth at the world championships in November.ADVERTISEMENT Oil plant explodes in Pampanga town LATEST STORIES Sports Related Videospowered by AdSparcRead Next US judge bars Trump’s health insurance rule for immigrants Grace Poe files bill to protect govt teachers from malicious accusationscenter_img LA Revilla draws inspiration from fiancée Den Lazaro, helps Phoenix win Two others, Thunya Sukcharoen and Sukanya Srisurat, won world titles at the competition and risk being stripped of their medals after also testing positive for at least one anabolic steroid and artificial testosterone. If found guilty, Srisurat faces a potential eight-year ban for a second offense.Chitchanok Pulsabsakul also failed a doping test after finishing sixth.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSUrgent reply from Philippine ‍football chiefSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool starsWeightlifting is under pressure from the International Olympic Committee to crack down on drug use after dozens of doping cases. In one event from the 2012 Olympics, six of the top seven finishers were later disqualified for doping.Weightlifting is still on the Olympic program for next year’s Tokyo Games, but only provisionally for 2024. Don’t miss out on the latest news and information. Lacson backs proposal to elect president and vice president in tandem Oil plant explodes in Pampanga town SEA Games hosting troubles anger Duterte ‘We are too hospitable,’ says Sotto amid SEA Games woes View commentslast_img read more

Enhanced chainup regulations are now in place for commercial vehicle operators

first_imgPrevious regulations required vehicles over 27,000 kilograms to carry and use traction devices, with only one wheel needing chains during winter conditions and mandatory chain-ups.  The new, more all-encompassing enhancements clarify requirements for all commercial vehicles over 5,000 kilograms:* Vehicles less than 11,794 kilograms – like buses or five-ton trucks – must use chains on a minimum of two tires and can use steel chains, cable chains, automatic chains, socks or wheel sanders, if not equipped with winter tires.* Vehicles 11,794 kilograms or more must use steel chains, and the number of tires needing chains ranges from a minimum of two tires for vehicles without a trailer, to six tires on some larger and more-demanding configurations.“Last winter, 33 of 35 extended closures on the Coquihalla involved commercial vehicles, and in most cases, this was due to truck drivers either poorly installing chains or not using them at all,” said Claire Trevena, Minister of Transportation and Infrastructure. “While most drivers do chain up during winter weather, these new regulations and the stricter fines that will follow will improve safety and hopefully reduce the number of closures.”For more information on the chain-up regulations and fines; CLICK HERE VICTORIA, B.C. – The Ministry of Transportation and Infrastructure implemented stricter chain-up regulations for commercial vehicle operators to improve vehicle performance during winter conditions which will keep B.C. highways safer.The Ministry recognizes the short notice the commercial vehicle industry is being given and will balance safety and reliability with giving the industry time to adjust its practices to the new regulations.Commercial vehicle safety and enforcement officers will provide information and education to drivers over the coming months before stricter fines are implemented and enforced later this winter. The values of the escalating fines for non-compliance are being evaluated and considered. Previously, drivers faced a base-level fine of $121 for not carrying chains or not installing them when required to do so.last_img read more

Drinking linked to poor grades

first_imgIndulging in one negative behaviour such as heavy drinking can lead college students towards a vicious cycle of poor lifestyle choices, lack of sleep, mental distress and low grades, a study has warned. For the study by researchers from Binghamton University in the US, 558 students from different US colleges completed an anonymous survey on academic performance, daytime sleepiness, substance use and mental distress. “We used a robust data-mining technique to identify associations between mental distress in college students with substance abuse, sleep, social behaviors, academic attitude and behaviours, and GPA,” said Lina Begdache, assistant professor at Binghamton University. “Positive behaviours such as abstinence from substance use, studious attitudes and responsibility toward work and family are reflective of a brain chemistry profile that supports mood and maturation of the prefrontal cortex of the brain,” Begdache said in a statement. “We identified potential cyclic behaviours that associate with severe mental distress that are linked to a change in brain chemistry that supports substance abuse, poor academic attitude and performance, poor sleep patterns, and neglect of family and work,” Begdache said. “The novelty of these findings is that we are proposing, based on the neuroscience of these behaviours, that one action may be leading to another until a vicious cycle sets in,” she said. Low mental distress in college students was associated with no substance abuse, responsible attitude toward learning as well as good academic efforts, high GPA (of above 3.0) and limited daytime sleepiness. Mild mental distress correlated with borderline work neglect and with a marginal negative association with grade-point average. Severe mental distress correlated with substance abuse, extreme daytime sleepiness, poor academic attitude and low GPA. This change in the direction of associations may reflect the neuroanatomical and neurochemical changes triggered by these factors that eventually contribute to mental distress. The results demonstrate that manageable lifestyle factors contribute to mental health in college students, which become potentially cyclic events that may impact academic performance. “These factors that are associated with mental distress in college students are controllable factors, meaning that proper education of students may reduce risk of mental distress on college campuses, which is on the rise,” said Begdache. “It is important for young adults to recognise that one behaviour may lead to a domino effect,” said Begdache. For instance, using drugs recreationally, abusing alcohol or using “study” drugs not only affects brain chemistry but may affect diet and sleep, which may further alter brain function and brain maturity, researchers said. Reduced brain maturity increases impulsivity, reduces emotional control and cognitive functions as well as GPA, eventually increasing mental distress with a potential long-lasting effect,” said Begdache. The researchers also identified a ‘virtuous cycle’. When young adults follow a healthy lifestyle (diet, sleep and exercise), they are more likely to avoid drugs and alcohol, which supports a normal brain maturity, which is then reflected in a higher GPA and responsible attitudes toward learning, work and family.last_img read more

EC removes Tripura West seats returning officer

first_imgAgartala: The Election Commission on Thursday removed the returning officer of the Tripura West seat, where polling was held on the first phase on the Lok Sabha elections on April 11, an official said. “The Election Commission removed the returning officer of the Tripura West seat Sandeep Mahatme. Tripura East’s returning officer, Vikas Singh, has been appointed in his place,” an Election Commission official, who did not want to be identified, told IANS. Also Read – India gets first tranche of Swiss account details under automatic exchange framework Alleging large-scale rigging, booth capturing, intimidation and attacks on voters and polling agents by the ruling Bharatiya Janata Party (BJP) members and their goons, the opposition Communist Party of India-Marxist (CPI-M) and the Congress had been demanding re-polling in the constituency. They had also been demanding Mahatme’s removal. The EC order issued by Secretary Arvind Anand, and available with IANS, relieved Mahatme, the District Magistrate of West Tripura, from election-related duties. It also asked Vikas Singh, the District Magistrate of Dhalai, to join his new posting by Thursday. Also Read – Trio win Nobel Medicine Prize for work on cells, oxygen According to the official, Tripura’s Chief Electoral Officer Sriram Taranikanti has been asked to send a panel of names by Thursday to be appointed the new District Magistrate of Dhalai. While polling was held in Tripura West on April 11, voting in the Tripura East seat, slated for the second phase of April 18, was deferred to the third (April 23) by the poll panel, citing the “non-conducive security situation”.last_img read more

In This Issue… Greek polls point to stabilizat

first_imgIn This Issue… * Greek polls, point to stabilization… * Italy & Germany have solid bond auctions… * Merkel introduces her 6 point plan! * A$ snaps back, along with real… And, Now, Today’s Pfennig For Your Thoughts! Unemployment Woes… Good day… And a Tom Terrific Tuesday to you! What a HOTSIE TOTSIE weekend we had here in the Midwest… Lots of blazing sun sent outside partiers searching for shade and a breeze! But I like it that way! We cut down some very large trees that were almost dead last year, and most of our shade for the backyard was gone… But that didn’t stop everyone from having a good time at Braden Charles Butler’s birthday party! The currencies have been in search of some shade and a breeze too… But we did have a bit of healing on Thursday and Friday and in yesterday’s thinned out trading. Yesterday, the Big news was that recent polls revealed that the conservatives are holding on in Greece, which would allow some stabilization. In other news, Spain announced that they were going to recapitalize their troubled banks, and Italy held a solid bond auction. But that was yesterday, all my troubles seemed so far away… no wait! That was yesterday, and today, all that good stuff for the risk assets is being wrapped up with yesterday’s fish… In other words… all those things aren’t helping today… Today, I’m seeing some slippage from the price levels of yesterday. Not only in the currencies but Gold & Silver as well. Right now, it’s just some small slippage, when the NY Traders return to their desks after a weekend at the Hamptons, they’ll decide which direction we’ll head to today… Will it be Risk On? Or Risk Off? In Germany this morning, another solid bond auction left German 10-year Bunds at record low yield of 1.347%… Stranger than fiction, people are lining up to buy these bonds at those levels… makes no sense to me… but, if you had to buy Eurozone, I certainly would load up with German bunds over the rest of the lot! So… if this auction carries any weight with the NY Traders, we could very well see a Risk On day… Right now, though, it’s a muddle through day… The debate about whether Germany would accept a Eurozone bond is still be bandied about… But, like I said on Friday, I like the concept of a bond fund to pay maturities from so that there would be no questions about the ability to pay back debt… Let’s hope for each country’s sovereignty sake that they choose wisely… You know… The German Chancellor, Angela Merkel, is a savvy politician… and not only has she backed the maturity fund idea, but has said to France’s new President, Hollande, Do you really want growth? I don’t think you can handle growth! (HA!) No, what she has actually done is propose a 6-point growth plan for the Eurozone, that uses a lot of the ideas that Germany has in place that has kept that economy going during these rough times for everyone else in the Eurozone. Like a Europe-wide program to promote start-ups and small and mid-sized business, that mirrors the program that has been so successful that is offered by the Kfw development bank in Germany… Merkel also want the rest of Europe to adopt the German model for dealing with unemployment, which involves reforming the labor markets of each country. Hey! At least she’s trying something! And if it has worked in Germany, why can’t it work elsewhere? That’s something I would like to see happen here in the U.S. that is a reform of the labor markets… If you want to get small businesses to ramp up their hiring, tell them that the protections against wrongful dismissal were being relaxed, and see what happens… But I better stop there, before I really get a lot of people mad at me for some of the other ideas to ramp up jobs… You can’t please all the people all the time, my dad used to tell me… and then something I learned a long time ago when I began performing in front of crowds with my guitar, “leave them wanting”… So… It looks like German inflation is falling… Amazing, but true, but I think it has to do with the slower activity in Germany (we’ve seen industrial production weaken, remember?). Most of the German states have reported falling inflation, and if that happens, I would have to think that the European Central Bank (ECB) would look to cut rates further… (so maybe buying those German bunds is so crazy!) The three-day advance by the Aussie dollar (A$) was stopped this morning, but the day is still new, and the A$ is only down by a very small amount right now… So, it’s nice to see it snap back! Not that I’m a cheerleader for the A$, it’s just when I see that something is oversold, it’s nice to see it snap back. And fundamentally, the A$ is still better than most currencies… Another currency that really snapped back last week was the Brazilian real… a 5.8% move in the currency just since 5/23, when it hit 2.1065… I doubt the Brazilian Gov’t likes seeing this strong move, and I wouldn’t be surprised to read or hear tomorrow that the Gov’t was in the market selling real to weaken it… In Norway, unemployment fell to a three year low with the most recent report… The tight labor market is going to make it very difficult for the Norges Bank (Norway’s Central Bank) to cut rates, as they’ve been discussing… Personally, I would like to see the Norges Bank take a step back from the rate cut table for the time being… The only reason the Norges Bank feel that rates need to go lower, is that they want the krone to get weaker VS the euro, and a debasement of the currency (rate cut) should do the trick… But Norges should think about how rate cuts, have been 50-50 on whether they help or hurt a currency, recently… China did not print their PMI (manufacturing index) this past weekend, as is their normal course of business, but instead is scheduled to print in two days, on the 31st… Remember what I told you last week about the Gov’t’s PMI and the private sector’s PMI issued by HSBC… This week’s report will be the Gov’t’s. color for manufacturing in May, and will go a long way toward restoring confidence in the global growth idea… Well… the British pound sterling, hasn’t seen that Olympics host country bounce yet… and maybe it won’t… But I would think that the closer to the opening of the Olympics we get, the better chance the currency has to see that host country bounce… We’ve talked about some snapping back currencies this morning… But one that is so low that to snap back right now would take something of the unordinary… The Indian rupee, can’t seem to catch a bid right now, and the Gov’t has been sitting on their hands watching this unfold. You may remember me telling you a couple of months ago, how the Indian Gov’t made an announcement that they would be protecting the rupee? And I chastised them 1. For getting involved, and 2. If they were going to get involved why had they waited so long? Well, that “protection” didn’t come, it was all talk and no walk… and as my dad used to tell me… money talks and bull….. walks… I used to think that India with its strong economic growth could overcome the problems that rising inflation brought them… But I was wrong… see what happens when you put faith in a Central Bank? The S&P/ CaseShiller Home Price Index for March will print today here in the U.S. From what I’ve seen lately, prices on homes are seeing some healing, and this report should confirm that… But, like I said before… the unemployment problem and the foreclosures that are coming down the pipeline will be enough to keep home prices in the dumps… Speaking of unemployment, I’ve got a story on that in the TTWS section of the Pfennig this morning… Maybe you’ll see what I’m talking about after reading that section this morning! Then There Was This… from the NY Times, talking about Unemployment Benefits… “In February, when the program was set to expire, Congress renewed it, but also phased in a reduction of the number of weeks of extended aid and effectively made it more difficult for states to qualify for the maximum aid. Since then, the jobless in 23 states have lost up to five months’ worth of benefits. Next month, an additional 70,000 people will lose benefits earlier than they presumed, bringing the number of people cut off prematurely this year to close to half a million, according to the National Employment Law Project. That estimate does not include people who simply exhausted the weeks of benefits they were entitled.” Chuck again… see what I mean now? Unemployment will continue to weigh heavily on any recovery in the home prices… That doesn’t mean that home prices can’t gain, it just means that the gains will be measured in small amounts due to the drag of the unemployed… To recap… In yesterday’s thinned out trading overseas, the currencies posted their 3rd consecutive day of healing. But that appears to have ended this morning. Chuck spends a lot of time talking about Germany this morning, but since they are the largest economy of the Eurozone, it makes sense… Currencies today 5/29/12… American Style: A$ .9845, kiwi .7605, C$ .9775, euro 1.2535, sterling 1.5690, Swiss $1.0435, … European Style: rand 8.3365, krone 6.0, SEK 7.1610, forint 238.15, zloty 3.4790, koruna 20.34, RUB 32.19, yen 79.50, sing 1.2775, HKD 7.7636, INR 55.79, China 6.3480, pesos 13.93, BRL 1.9825, Dollar Index 82.23, Oil $ 91.28, 10-year 1.72%, Silver $28.28, and Gold… $1,574.20 That’s it for today… well… I’m Home Alone… not that it changed anything this morning, as I get up and leave before anyone else is up… The kids were at the house yesterday, with the grandkids… Everett the EverBaby (he’s not a baby anymore) loves watermelon! So, he has something in common with me! The Cardinals turned things around the past two days, hopefully they can keep this going now… Friday was crazy here at work… a very long day for yours truly… I guess it’s good for me every now and then, eh? Keeps me out of the bars! HA! And then finally, the little girl that grew up next door to us, turned in her personal best Triple Jump at the Missouri Track Finals on Friday… so congrats to Jordan Yanker… When Jordan and Alex were little kids they played together all the time… Now they are in high school together, and probably don’t even exchange “hellos”… Oh well… time goes by… and so did today’s Pfennig! I hope you have a Tom Terrific Tuesday with the Mighty Manfred Wonder Dog! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837 www.everbank.comlast_img read more

Close