Come the Fed meetings around April, May, June next year, this may have an impact. |
Consumers have been the strongest piece of this economy, so if we see some weakness in retail sales, and the Michigan survey should be off on Friday, we should see the euro win the benefit of the doubt, |
Even though the data has been inflationary and indicative of a stronger economy, comments from the Fed suggest they're going to wait and see. |
If unit labor costs are not increasing as much as we initially expected, that would get the Fed to pause (rate hikes) sooner than expected. |
If you look at the last three months, these PCE figures signal that inflation is maybe losing some momentum and calls for just another few more Fed rate hikes in the near term. |
In terms of the currency market (durable goods data) had very little impact and has probably been forgotten about. The main focus is still on comments out of the euro zone, |
In terms of the currency market (durable goods data) had very little impact and has probably been forgotten about. The main focus is still on comments out of the euro zone. |
Interest-rate differentials are what are helping the dollar right now. The difference between U.S. and other investment horizons has widened of late. |
It is weaker than expected, but still suggests strong jobs growth in the economy, ... Anything below 390,000 [jobless claims] is a strong number. |
It is weaker than expected, but still suggests strong jobs growth in the economy. Anything below 390,000 [jobless claims] is a strong number. |
It was all one way. It was just a matter of momentum picking up after 8 a.m.. |
It's a continuation of the trend we've seen. |
Jobless claims helped (the U.S. dollar), but we're looking ahead to tomorrow and next week at this point. |
Overall, the ISM number is definitely a strong figure, as well as the construction spending report, which is much higher than expected. |
People are watching the year-over-year core PCE inflation figure of 1.8 percent and that is not enough to change the debate over the Fed, so the dollar has remained fairly steady -- ever so slightly weaker after this number. |