Michael Woolfolk
Michael Woolfolk
benign canadian dollar inflation
Benign inflation has weakened the Canadian dollar a little bit.
continued dollar importance interest labor market rally rate report respect
The dollar rally after the non-farm payrolls report underscores the continued importance of labor market tightness with respect to interest rate expectations.
dollar fed interest looks provide rate supporting time until
Interest rate differentials are supporting the U.S. dollar for the time being. Until the Fed pauses, it looks that's going to provide support for dollar bulls.
country dollar fiscal formula growth happens investing investors loose monetary policy private report short strong tight
This report is nothing short of remarkable. The formula for a strong dollar is strong growth, tight monetary policy and loose fiscal policy. The U.S. happens to have all three. Private investors are comfortable investing in a country like the U.S.
albeit economic positive report tip week
This was undeniably a positive report. Today's report could very well tip off a strong, albeit short, week for U.S. economic data.
buyers curve domestic foreign investors reason recession time yield
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.
below compelling concerned drifted further hike interest levels next rates reason start
Unemployment has drifted further below 5 percent, and at those levels you have to start being concerned about bidding up of wages. There's a compelling reason to hike interest rates at the next meeting.
asian bank central continued demand elevated ensures foreign oil prices remains strong
We see that elevated oil prices and a continued Asian central bank intervention ensures that foreign demand for U.S. treasuries remains strong during January.
exceeded knew september turn worst
We knew that there were going to be some hurricane-related distortions in the September data, but this really exceeded our worst fears. This was a turn for the worst.
aggregate data december itself negative rude total
While the monthly December data was not itself a negative surprise, the aggregate 2005 total was a rude reminder.
china continue currency deficit energy enthusiasm firmly further improvement lasting market prices remains resistant rise trade unexpected
While the US trade deficit showed an unexpected improvement in February, any lasting market enthusiasm was firmly misplaced. Energy prices continue to rise while China remains resistant to further currency flexibility.
believe curve people recession signal wrong yield
The people who believe that the inversion of the yield curve is a signal of recession have it wrong this time.
account bush capable current cutting decline deficit destined unless
Unless the Bush administration is capable of cutting the current account deficit in half, the dollar's decline is destined to continue.
dollar order report
This was a report that was made to order for dollar bulls.