Michael Woolfolk
Michael Woolfolk
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.
asian bonds conscious demand dollar greatest market policy remains soon threat time unlikely whereas
Whereas Asian demand for US bonds is unlikely to end any time soon as a conscious policy decision, the reversal of petrodollars from the US bond market remains the greatest threat to the dollar in 2006.
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.
dollar fed markets trend until
We won't see the dollar embarking on any new trend until the markets get a better sense of where the Fed is headed.
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.
backing dollar economic economy likely rate strong
There are strong economic fundamentals backing not only the U.S. economy but the U.S. dollar right now. We are likely to get two more rate hikes.
dollar order report
This was a report that was made to order for dollar bulls.
added buy dollar dollars gasoline market order report
This was a report that was made to order for dollar bulls. The market was predisposed to buy dollars and the report added gasoline to the fire.