Although the numbers are not all that bad, it is signaling the Fed is definitely closer to the end of that line (of rate hikes) and that has just put a real dark cloud on the buck right now. |
Housing starts dovetail with the stronger outlook on the economy. |
Most of the market is anticipating a couple more Fed rate hikes and I guess the risks are if we can read anything into (the minutes) that would indicate otherwise. |
Producer prices seem to be rising at a slower rate than consumer prices and that is looking good for corporate profits and the strength of the economy at this point. |
The dollar has shown not a great deal of reaction largely because the retail sales headline data looked pretty bad but the revisions to the prior data pretty much offset that. |
The number was better than expectations and more current than the gross domestic product number. |
The overall reading is obviously very strong, but I think the market might be hampered a bit by the prices paid index being a bit lower here. That might be keeping a lid on the dollar. |
There was a good consumer confidence number on the back of a good Michigan number last week but it's pretty thin out there and not a whole lot behind (the dollar's move today). |
There was some rolling back after the Fed move, and then Rita came on top of that, and we started to see everyone head for the exits. |
We are on pins and needles here with some dangerous levels in the euro. This area was thought to be resistance and we are poking our head above it. |