Michael Woolfolk
Michael Woolfolk
anecdotal due evidence floor flows greater impact level lighter lower market point seeing trading
Anecdotal evidence on the trading floor indicates things have been lighter than at any other point in the week. You are seeing some one-off flows that are making a greater impact in the market due to this lower level of liquidity and volume.
durable favorable gains given goods growth interest january market positive rate recent unlikely weigh
Given the recent spate of positive January data, CPI and durable goods are unlikely to disappoint. The USD is positioned to make new gains ... as favorable U.S. growth and interest rate differentials weigh on market sentiment.
market tape
But the tape will not be as important to the market as new data.
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.
ability deficit given indication market rally strong strongly trade
The US dollar's ability to rally strongly off a better-than-expected trade deficit is a strong indication that the market hasn't yet given up on the dollar.
auto loss market reflect rest saying surprise
(The survey) was a big surprise this morning, but some of the market is saying that Detroit, because of loss of auto jobs, does not reflect the rest of the nation.
bought coming decides dollars euro low market negative possible quite sent time trading vote weekend weeks
The weekend 'No' vote was deemed to be negative for the euro and has sent the euro/dollar into a new trading range. It is quite possible that in the coming weeks we could get as low as $1.20 before the market decides that it has bought enough dollars for the time being.
chance increased interest market mean meeting next percent rates took
The market took this to mean that there is a 100 percent chance that interest rates will be increased at the next meeting and a 75 percent chance at the meeting after that.
below continue data fed labor likely market raising rates remains services support view
February's data support the view that the U.S. labor market remains strong, particularly on the services side, with unemployment solidly below the 5% level. The Fed is likely to continue raising rates for the foreseeable future.
caught data heavy market players week wrong
Market players don't want to be caught the wrong way here going into a very heavy data week in the U.S..
choke growth oil prevent prices recovery risen stock view
Oil prices have risen so dramatically that the view now is that this could choke off U.S. growth and prevent any recovery in the stock market.
door fed future hikes left open positive rate
The door will be left open for future rate hikes but the Fed will be increasingly data-dependent. That's positive for the U.S. dollar.
friday quite
There was quite a sell-off on Friday and it may have been overblown.
attempting investors positions square
Investors are attempting to square up their positions before the long weekend.