Given the recent spate of positive January data, CPI and durable goods are unlikely to disappoint. Consequently, the USD is positioned to make new gains...as favorable U.S. growth and interest rate differentials weigh on market sentiment.
More Quotes from Michael Woolfolk:
Whereas Asian demand for US bonds is unlikely to end any time soon as a conscious policy decision, the reversal of petrodollars from the US bond market remains the greatest threat to the dollar in 2006.Michael Woolfolk
The Bank of Japan is not going to be changing its monetary policy before the fiscal year end on March 31. As corporations close down their books, they don't want any pronounced movements in the dollar-yen rate.
Michael Woolfolk
Our Fed watchers say there's a consistent story that the Fed is one and done. Today's data doesn't change this story.
Michael Woolfolk
The U. S. dollar's ability to rally strongly off a better-than-expected trade deficit is a strong indication that the market hasn't yet given up on the dollar.
Michael Woolfolk
Benign inflation has weakened the Canadian dollar a little bit.
Michael Woolfolk
The reason why an inverted yield curve need not foreshadow recession this time is that it is foreign investors and not domestic investors who are increasingly buyers of U.S. bonds.
Michael Woolfolk
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