Naomi Fink
Naomi Fink
couple employment fairly fed hikes looks rate robust support
It looks like we have a fairly robust employment market. The Fed has a couple of more rate hikes to do. There could be some support for the dollar.
although argument bad data extend fed hardly pace showing speed trends
Although the data are hardly showing bad trends for the U.S. economy, they are hardly an argument for the Fed to extend or speed up the pace of hikes.
based data fed hikes positive signal
I think based on the data we got this morning, the Fed hikes are priced in for the moment. And that's not really a positive signal for the dollar.
expects extend fed market rate
The market expects the Fed to extend rate hikes.
headline regardless
I think this is a dollar-supportive (report) ... regardless of the headline (non-farm payrolls) number.
although dollar eventually global impact might reserve signal trend wider
Many might see this as a signal of a wider trend that dollar holdings might eventually be cut. It did have an impact on the market, although this is not representative of how global reserve holders are going to allocate their reserves.
data decline focus greater home point reflects sales
But then the decline in home sales is more interesting. Not from a data point of view, but the point is, it reflects a greater trend. I think this is going to be more of a focus for 2006.
conviction dollar looks market strong
It looks like the market doesn't have a strong conviction about the dollar for the moment.
clear continue demand domestic driven equation growth hike industrial measures rate shift slow
It's clear that they want to shift to more domestic demand driven growth and I think the rate hike is only part of the equation and they're going to continue to put in measures to slow demand in the industrial sector.
global move reserves
There are some jitters out there that global reserves will move away from dollars.
bit expected market maybe seem
There does seem to be a bit of complacency in the market ... but maybe that's because these developments are expected to be temporary.
benefit demand domestic forthright including increase seen statement
This is a much more forthright statement than we've seen previously from the G-7. The currencies that will be impacted the most are those that will benefit from an increase in domestic demand in China, including the yen.
demand domestic foresee gradual likely move rates robust support toward zero
Robust domestic demand and a gradual move toward non-zero rates are likely to support the yen. We foresee the end of zero rates before the end of the year.
admitting closer deficits dollar fears might prompt states united united-states
What might prompt some dollar fears is that the United States is closer to admitting the deficits are a big problem.