This might be a slight dollar negative. The key was the core which was bang on expectations at 0.2 percent. So there's not much inflation there.
More Quotes from Nick Bennenbroek:
inflation concerns were not really new news and not prevalent in the market.Nick Bennenbroek
At the start of the year, the investment community was very bullish on Asia, ... The currencies' performance is clearly surprising.
Nick Bennenbroek
One of the reasons for the choppiness today is because of a fairly steady stream of comments coming out of the euro zone on the currency,
Nick Bennenbroek
The overall case for Australian dollar weakness is still in place with a steady interest rate outlook in Australia and a diminishing interest rate spread against the U. S..
Nick Bennenbroek
We would hope that the ISM is sending the correct signal, and the details suggest it is but it's wise, given the fact that businesses are being cautious about investing, to wait until this result is validated by other data.
Nick Bennenbroek
Interest-rate support for the Australian dollar will lessen quite substantially as the year progresses. We see a steady outlook from the Reserve Bank of Australia and a higher Fed rate.
Nick Bennenbroek
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