Richard Franulovich
Richard Franulovich
cannot damaged deficit given respond truly wider
If EUR cannot respond to a wider deficit going into the U.S. long weekend, take as a given that EUR is a truly damaged currency,
concerns dollar improve sentiment structural
This should improve dollar sentiment ... as it alleviates a lot of the structural concerns about the dollar.
catalyst decline people quicker recovery sharper stopped tends
When you have a catalyst like today, the recovery tends to be much quicker and sharper than the decline because people are getting stopped out.
euro fresh given higher highs punch sharp short
Net-net, given the sharp U.S. upward revisions to payrolls, for the euro to punch higher to fresh highs is nothing short of spectacular,
euro levels lower momentum people picking targeting
More people are targeting lower levels in the euro and momentum is picking up,
appetite foreign less securities together weak
Stepped-up U.S. appetite for foreign securities and less foreign appetite for U.S. Treasuries have come together to make this a weak number.
canadian commodity demand dollars driven exports far global growth quickly turn turns zealand
It is a commodities story in so far as commodity demand is driven by global growth and currencies like the Australian, New Zealand and Canadian dollars should see their exports turn pretty quickly when global demand turns around.
closely effects hurricane negative oil risk traders trading
We're oil traders now because currencies are trading so closely off oil. All the risk now is that the hurricane does not have all the negative effects for the U.S. economy.
economy fed greenspan message represent speaking transitory
Greenspan is speaking on the economy and ... the unmistakable message from the Fed is that hurricanes only represent a transitory risk.
data japan softer
The data from Japan was universally softer than expected. It is conspiring to take the yen lower.
higher looking lower oil prices
It's not a big surprise. A lot of the things we were looking at such as lower oil prices and higher Boeing deliveries have all conspired to make it a better number.
concerned fed hikes means measured policy rate remains
The Fed is much more concerned that policy remains accommodative, which means that rate hikes will be measured going forward,
basically euro far hikes interest rate square united year
In so far as this is already discounted by the interest rate futures markets, it is also priced into the euro and we're basically back to square one, where we started the year -- two more hikes here (in the United States), and two more in the euro (zone).
adds argument decent fed neutral number stopping
It's a neutral to a decent number. I don't think this number adds to the argument that the Fed is stopping (rate rises) at 4.5 percent.