The dollar is definitely swimming against the tide, trying to make further gains against the twin deficits.
More Quotes from Tim Mazanec:
The important aspect was core inflation, month-on-month up just 0.1 percent. Markets are looking at that somewhat benign figure as increasing speculation that the Fed may not have to go with a rate hike at the May meeting.Tim Mazanec
There's shift in ranges, but still nobody's going to mistake this for a clear trend reversal or anything.
Tim Mazanec
People are watching the year-over-year core PCE inflation figure of 1.8 percent and that is not enough to change the debate over the Fed.
Tim Mazanec
We are getting a consistent view from the Fed now that they are somewhat worried about the risk of a higher inflation rate. That is going to cause more rate hikes to come and higher yields will help the dollar.
Tim Mazanec
Overall, the ISM number is definitely a strong figure, as well as the construction spending report, which is much higher than expected.
Tim Mazanec
Jobless claims helped (the U. S. dollar), but we're looking ahead to tomorrow and next week at this point.
Tim Mazanec
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