That seemed to change the texture of the market, given that the accompanying statement from the bank was a little bit more on the hawkish side of expectations. |
The bigger issue is not what will happen today, as everyone expects a quarter-point rate hike, but more important will be the accompanying statement to see what a post-Greenspan Fed will look like. It's fairly quiet right now. |
The Canadian dollar is grinding lower, playing catch-up with the price correction that we saw in oil last week. |
The days of the rock star board member are over. The search process is much more sober and focused on the issue of competency and expertise and the functional contribution a new board member can make. |
The interest rate side is probably giving the Canadian dollar some support against other currencies. |
The market looks at it as what's good for the U.S. is good for Canada because of the close trading relationship. |
The rise of the Canadian dollar is partly driven by the short-term selling pressure of the U.S. dollar after the tape came out. |
There's been a little bit of corporate and cross interest to buy the Canadian dollar, which appears to have had a little bit of an impact, and I think the market was focusing on support that was very close to 1.17 (85.47 U.S. cents). |
They're kind of saying that it's going to be OK, but that remains to be seen, |
Up until now, many of these folks, these past couple weeks, have had no choices. What we want to do is return that sense of control over their lives back to them. Many of them have expressed that they don't know what they want to do. |
We catch a lot of flak, ... They give us a lot of ribbing over that. I just say, 'I'm just the low man on the totem pole.' I don't feel responsible. I don't know if we would have stayed if we would have avoided that or not. |
We have not seen much reaction but given the elevated level of unit labor costs as well as the lower-than-expected print of initial claims data, that would be viewed as dollar supportive and may see the dollar rally over the short term. |
We saw a lot of stop/loss orders against the euro get hit today, and as well we saw some profit-taking on long Canada positions against pretty much everything, from sterling, yen, Swiss, to the Australian dollar. |
We saw not much of a reaction to the Canadian data, but a little bit of a pop after the U.S. data came out, but on balance we haven't really moved. |
We think our spring league is the best in the state. Our softball youth just keep getting better and better and better. The athletic growth of these players has been phenomenal and we feel we have been a part of that. |