Markets always price for the worse, then row back when it doesn't happen, ... In this case, as soon as Rita was downgraded, the dollar jumped in a relief rally. It's as simple as that.
Machinery orders are important and the better-than-expected numbers will be yen-supportive.
Liquidity has generally gone from the market. I don't think traders would be particularly aggressive and strap additional risk on.
The report will be positive for the dollar. Along with a good prospect for the GDP report due Oct. 28, we will see the dollar remain strong this week.
Whether the minutes will tell us with any great clarity what lies ahead remains to be seen but at least for the moment the market is basically pricing in two more 25 basis points hikes.
Continued strength of commodity markets has been beneficial to the $A, but traders haven't been getting a lot of loving being long.
The dollar does feel as if it's gone a very long way against the euro and in a very short time.
There's two things you know about the weather: One, you can't stop it; and two, you can't predict it. I wouldn't want to be heavily involved in foreign- exchange markets in next 24 hours.
It's pretty quiet out there and the ranges are likely to hold.
Copyright © 2024 Electric Goat Media. All Rights Reserved.