Archived IMT (2010.03.12)
Stronger than expected US Feb retail sales would normally have been negative for the US dollar via the channel of rising equities but a more-forward looking view argues for a USD-supportive stance as it maintains growing hawkishness from the Fed. Todays stronger than exp figures will not only maintain Kansas Feds Hoenig to dissent against the FOMC mantra of exceptionally low federal funds rate for an extended period, but will trigger further upgrade in the FOMC economic outlook, which will be negative for Fed funds futures. EURUSD fails to break the $1.3810-20 resistance that is required to eliminate the euro's downward channel.
Election Anxiety, Virus Reality
by Adam Button | Sep 25, 2020 19:15
USD Deleveraging & Tech Applications
by Adam Button | Sep 23, 2020 18:16
The Moment of Truth?
by Adam Button | Sep 21, 2020 23:15
FX Shrugs, Indices Shaken
by Adam Button | Sep 18, 2020 18:53
Fed's 2023 Special, BoE Thinks Negative
by Adam Button | Sep 17, 2020 14:04