Michael Woolfolk
Michael Woolfolk
buy economic investors less low positive rates risks willing
There's a very positive economic story of investors being more willing to take risks and buy equities and less willing to take low rates on bonds.
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This morning's announcement by the Bank of Japan to end quantitative easing is being viewed as an indication that the Japanese economy is returning to health, but appears insufficient to prompt any consistent yen buying as of yet.
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There was quite a sell-off on Friday and it may have been overblown.
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There was yen strength on the anticipation the Bank of Japan could be changing its monetary policy. Those expectations have been curbed.
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There's a compelling reason to hike interest rates at the next meeting.
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The removal of the word 'measured' ... would be positive for the dollar as it suggests that the Fed is giving itself room to raise rates at a faster pace later this year.
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Despite some base-effect distortions caused by surges in building supplies and clothing sales in the previous month, December retail sales reflected broad-based domestic demand that should support a strong GDP figure for the fourth quarter.
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The weekend 'No' vote was deemed to be negative for the euro and has sent the euro/dollar into a new trading range. It is quite possible that in the coming weeks we could get as low as $1.20 before the market decides that it has bought enough dollars for the time being.
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The United States is very dependent on Asian bank buying and petrodollars.
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This certain beats even the most optimistic forecasts,
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Oil prices have risen so dramatically that the view now is that this could choke off U.S. growth and prevent any recovery in the stock market.
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The monthly GDP report fed into underlying CAD strength. With political risk subsiding, rising interest rates and fundamental economic strength are prompting CAD buying, which is expected to continue through year-end as USD/CAD heads for the 1.10 mark.
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The people who believe that the inversion of the yield curve is a signal of recession have it wrong this time.
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Our Fed watchers say there's a consistent story that the Fed is one and done. Today's data doesn't change this story.