Tom Benfer
Tom Benfer
again basis closely data economy key looks move numbers october point points quarter question strong watch whether
We'll have to watch the data closely now between Aug. 24 and Oct. 4 to see how strong the numbers are. So it's going to be key now on how strong the economy looks going into October whether or not they would move again by another quarter point in October. So I think that's the question mark: Do they go 50 (basis points) or do they go 75 basis points for this year?
continues exports good hurt japanese pull stock strong
If the yen continues to strengthen, then it's not a good thing for the Japanese because their exports aren't going to be competitive into the U.S.. I think as you get to 105 and pull below, it's going to hurt the Japanese stock market. So, too strong of a yen is not good.
economy raise rates situation traders weak
It's a lose-lose situation for the yen. Traders feel they shouldn't raise rates because the economy is still too weak at this point.
coming days drawing lack line originally range row tolerance trading
I think there is a lack of a tolerance for the yen to appreciate. I had originally thought that the yen would be trading at a range of 115 to 125, but with the BOJ coming in at 118 for two days in a row I think they are really drawing their line in the sand.
beginning cycle nearly people rally ready
People are getting ready for the end of the tightening cycle and they are beginning to feel like the dollar?s rally is nearly over.
behind countries export miss primary reasons states united
I think that these countries do not want to miss out on the export opportunities in the United States and that's one of the primary reasons behind this.
euro investors sell willing
Investors are still willing to sell the euro in any rally, which is why we don't get a bounce.
dollar within
This is just positioning within ranges but I still think the dollar is going higher.
follow lack shows thoughts
Once again, it shows a lack of follow through after thoughts of intervention.
bond core energy expected food further good market number relief sign volatile
The core number (which excludes the volatile food and energy sectors) is expected to (gain) 0.2 percent, which would be good and I think that would give the market a further sign of relief and could give the bond market a boost.
german hope improving order successful survey took wind
The German IFO survey took all the wind out of any hope for successful intervention. In order to intervene, they need to have some improving fundamentals.
became dollar equity follow movements reluctant selling
The dollar was reluctant to follow movements in the equity market, but when the selling became fierce, it started to respond.
dollar last looks weak
The dollar looks like it got too weak last week.
feels market
The market feels if one is in trouble, there could be more we don't know about.