We had an extremely bad current account deficit number this morning.
A lot of us are looking at a move close to parity over the next few months. There's no indication that this move is done quite yet.
It's extremely bad and this is bearish for the U.S. dollar. This will definitely shift expectations more for a 4 percent Fed funds rate as the last hike we'll see as opposed to 4.25 percent.
Trade data is a little better ... but I think the dollar rally should be limited as the prospects for the trade deficit still aren't very good.
We're not that anxious in terms of punishing the dollar ahead of the meeting.
Berlin. What a garrison of spies! what a cabinet full of useless, liquid secrets, what a playground for every alchemist, miracle worker and rat piper that ever took up the cloak.
(October 19, 1931 - )
Statistics are no substitute for judgment
(April 12, 1777 - June 29, 1852)
I chased a woman for almost two years only to discover her tastes were exactly like mine - we were both crazy about girls.