At this point, the market is likely to consolidate and look to next week's trade balance and retail sales data to determine the direction of the pair for the near term. |
Despite the weak GDP report, fed funds expectations for a March rate hike actually ticked higher to about 76 percent because of the rise in the core PCE price index. |
Dollar bulls have full control and are taking the data in stride. |
Euro/dollar longs and shorts are practically one-to-one right now, which indicates how indecisive the market is, |
Euro/dollar longs and shorts are practically one-to-one right now, which indicates how indecisive the market is. |
Given the relative weakness of the (jobs) data, the dollar bullishness that we are seeing at the moment should be limited. |
Going into the Jan. 31 FOMC (Federal Open Market Committee) meeting, a lot of people believe that with oil prices picking up, the Fed may be more neutral in their comments. |
In our opinion, the market should be thankful that we avoided a possible surge in volatility which could have happened if President Bush picked a more unknown candidate. |
It's extremely bad and this is bearish for the U.S. dollar, ... This will definitely shift expectations more for a 4 percent Fed funds rate as the last hike we'll see as opposed to 4.25 percent. |
It's extremely bad and this is bearish for the U.S. dollar. This will definitely shift expectations more for a 4 percent Fed funds rate as the last hike we'll see as opposed to 4.25 percent. |
It's more the flushing out of dollar shorts. |
Overall, the headline figures are solid. January inventory figures are still on the path for solid growth in the first quarter. |
The dollar is rallying as foreigners snapped up a larger-than-expected amount of U.S. assets. |
The focus will be back on trade. |
Those comments, along with other factors, pushed the dollar lower. |