The fact that he is saying 'moderately augment' would appear to suggest that this will be a 25bp rather than a 50bp hike and that future rate hikes may also be limited. |
The French riots are also not helping the euro, |
The market is correcting Friday's move (after payrolls). People are looking toward Greenspan and waiting to see how the U.S. will react after Labor Day. |
The market is looking at U.S. data and thinking, 'Is this a slowdown or a pause?' It is very unclear, |
The market is looking at U.S. data and thinking, 'Is this a slowdown or a pause?' It is very unclear. |
The market will not be confident in attacking the dollar until there is a much greater degree of confidence in calling the peak on Fed funds. |
The U.S. rate argument is unequivocal. Rates are going to keep on going up for the time being. |
The uncertainty about the German election just tends to put people off buying euro/dollar, |
The uncertainty about the German election just tends to put people off buying euro/dollar. |
There is a good chance that the Fed won't raise rates on Sept. 20 but in doing so they are likely reaffirm that they will raise rates thereafter. |
There was a big knee-jerk reaction to the Moody's upgrade, but longer term, I don't think much has changed, |
There was a big knee-jerk reaction to the Moody's upgrade, but longer term, I don't think much has changed. |
There's a general upside bias for the dollar right across the board, but that inclination is tempered a little when you come up against big events like the trade data. |
There's uncertainty about the floating voter. |
We're consolidating Friday's sharp move lower. I wouldn't be surprised to see a bit of a pullback first. I wouldn't want to pile in until see $1.1759 level give away -- the low for 2004, |