It's not a big surprise. A lot of the things we were looking at such as lower oil prices and higher Boeing deliveries have all conspired to make it a better number.
More Quotes from Richard Franulovich:
It's a neutral to a decent number. I don't think this number adds to the argument that the Fed is stopping (rate rises) at 4.5 percent.Richard Franulovich
There's some definite independent strength in the Australian dollar, aided by gold and commodities.
Richard Franulovich
The dollar's initial reaction was fairly muted, given the size of the negative surprise, but it is ahead of the payrolls report and also because one week's data does not make a trend,
Richard Franulovich
For a number of years now in a big picture sense, price action in Aussie seems to lead global growth. There is something like a 12 - 18 month lag.
Richard Franulovich
Some well-known commentators on Fed policy have come out and said that the Fed has finished, the Fed is on pause or the Fed should take a pause,
Richard Franulovich
The Fed is much more concerned that policy remains accommodative, which means that rate hikes will be measured going forward,
Richard Franulovich
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