It was quite a roller-coaster ride...and quite a mixed picture,
More Quotes from Doug Porter:
I think you can definitely make a case that this is as much a U. S. dollar strength story as a euro weakness story, ... We also think the U. S. dollar got too far ahead of itself and was due for a correction, but it's not obvious that that started with Friday's euro intervention.Doug Porter
The bottom line is that as long as equities remain aloft, there is precious little outside of Fed tightening to cool growth, ... And that tightening may need to be much more aggressive than the market currently expects to bring (economic) growth closer to the Fed's comfort zone of around 3.5 percent.
Doug Porter
As the negatives keep stacking up for the province, we will see growth weaken ... and begin to dig into the province's revenues.
Doug Porter
I suspect it was just a bout of profit taking, a bit of nervousness ahead of next week's Fed meeting. Not that anyone's expecting anything out of the Fed's next week, but I think there still are some lingering concerns about the longer-term interest rate outlook. Especially with oil prices pushing above 32 a barrel,
Doug Porter
Even though the headline number looked good on the TSE, there is still a slight concern that it's moving forward on vary narrow breadth.
Doug Porter
And I think a lot of it flows from a combination of very positive Canadian economic data on Thursday, as well as more signs out of the U.S. that the U.S. economy is cooling to a sustainable pace and that the (Federal Reserve) will be on hold for some time.
Doug Porter
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