(The survey) was a big surprise this morning, but some of the market is saying that Detroit, because of loss of auto jobs, does not reflect the rest of the nation.
More Quotes from Michael Woolfolk:
The dollar rally after the non-farm payrolls report underscores the continued importance of labor market tightness with respect to interest rate expectations.Michael Woolfolk
The market is happy with the number as it shows strength in Canada's economic growth. Investors are willing to buy the Canadian dollar.
Michael Woolfolk
I don't think it is possible for Iran to take money out of both the United States and Europe. There are just not sufficiently deep or liquid markets to place these sums of money.
Michael Woolfolk
Interest rate differentials are supporting the U.S. dollar for the time being. Until the Fed pauses, it looks that's going to provide a support for dollar bulls.
Michael Woolfolk
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.
Michael Woolfolk
The door will be left open for future rate hikes but the Fed will be increasingly data-dependent. That's positive for the U.S. dollar.
Michael Woolfolk
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My life was changed in one breath from God.
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