Robert Rennie
Robert Rennie
Robert Rennie was the son of William Rennie, the founder of Rennie Seeds, a successful wholesaler and retailer of both vegetable and floral seeds. William retired in 1888, and Robert and two younger brothers John and Thomas took over management of the firm. Robert served as the firm's President until he retired in 1925, when Thomas became President...
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Continued strength of commodity markets has been beneficial to the $A, but traders haven't been getting a lot of loving being long.
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As long as economic data meet and beat expectations, the dollar will continue to strengthen. The Fed has a good reason to be pro-active rather than passive. The ECB has good reason to be passive rather than pro-active.
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There's two things you know about the weather: One, you can't stop it; and two, you can't predict it. I wouldn't want to be heavily involved in foreign- exchange markets in next 24 hours.
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We see this as something that will increasingly weigh on the New Zealand dollar as we move through 2006. Fresh demand will be very limited.
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I'd be surprised if the BOJ raises rates at all this year and that is something that will tend to see the yen underperforming.
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Base metals are up suggesting there are good prospects for global growth. The risk of higher inflation from higher oil prices is pushing up gold.
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Machinery orders are important and the better-than-expected numbers will be yen-supportive.
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It's pretty quiet out there and the ranges are likely to hold.
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The yen is weakening so much versus other currencies. The pace of decline of the yen is causing stress and strain within Asia, where central banks may be showing some concern.
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The report will be positive for the dollar. Along with a good prospect for the GDP report due Oct. 28, we will see the dollar remain strong this week.
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Whether the minutes will tell us with any great clarity what lies ahead remains to be seen but at least for the moment the market is basically pricing in two more 25 basis points hikes.
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Traders have jumped on the headline and people have shouted out China is going to make the currency convertible. China is not going to make the currency convertible; they are going to allow domestic investors to invest in foreign markets.
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I think the market has had a free swing at selling the (US) dollar and has shown to ignore a pretty good sell-off in the bond market.
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Underlying interest rates still remain very supportive for the U.S. dollar.