This was a key auction for the dollar as it relieves worries of successful financing of the swelling trade gap.
More Quotes from Ashraf Laidi:
This story is important because I don't think we are going to have a lame duck secretary at a time when the president of the fastest growing nation in the world is coming here and when the forefront of relations between China and the US is on finance issues.Ashraf Laidi
The press conference by the ECB is going to be hawkish and the president is going to make sure to add the words 'being vigilant,' regarding inflationary expectations. That could actually increase the chances of a March rate hike.
Ashraf Laidi
Japan is really the industrialized country most heavily dependent on oil imports, ... so the most direct impact of higher oil prices is on the Japanese yen.
Ashraf Laidi
The metals and gold prices are already telling you that there's an inflation risk. So if they're going to push the dollar weaker, the risk of inflation could be sparked even higher if the dollar falls and oil prices remain at the level they're right now.
Ashraf Laidi
We expect the yield curve to invert further as long as US stocks continue to show no signs of a retreat and the Fed is priced to tighten.
Ashraf Laidi
The number is not good for the dollar. There is increased difficulty for the U.S. to finance its swelling trade deficit.
Ashraf Laidi
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