British Pound Worst Performer Ahead of Bank of England Decision

The British Pound tumbled near year-to-date lows and took the dubious honor of worst-performing major currency on the week, falling almost four percent against the surging Japanese Yen. Disappointing UK PMI Manufacturing survey numbers capped a difficult week for the British Pound, and indeed the stage is set for further declines into an important week ahead.

US Dollar Roars and Reverses After Jobs Data

In previous months, these pages have warned of slowing global growth and cited crude as the leading indicator. Crude plummeted nearly 18% in May compared with just a little over a 6% decline in the S&P 500. Reitterating the stance that crude is the leader (the ‘tell’ if you will) in the next wave of develeveraging, equities probably have much more downside in the coming months.

Crop Progress Report

140,000 United States producers and will visit 42,000 tracts of farm land to collect information. One of USDA’s largest survey efforts, the responses will provide the foundation for estimates in the upcoming growing year. With both data collection and data release taking place over a span of only four weeks, the results will be available beginning on June 29 in the Acreage and other reports. Farmers should watch for their survey and be sure to respond. Your information matters!

Pandora Blares Triumphant Earnings

Internet music sensation Pandora Media (P [stock P] has proven its fine-tuned worth with an excellent start to its 2013 fiscal year. With revenue growth of 58% in the past year, the online radio company has positioned itself for continued development and success in the coming months.