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Can USD's lucky streak be maintained?
by gracecheng | October 14, 2006 at 09:26 pm
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US bulls are happily and deliriously riding on NFP (non-farm
payrolls)'s âonce-in-a-lifetimeâ big fat upward revision of employment
figures for the 12 months that ended in March 2006, which will
translate to an average of 236,000 jobs a month, or a whopping 67,000
more than originally calculated. And never mind the hawkish comments
from Fukui about the yen â that it should rise to reflect the
fundamentals (=a recovering Japan from a long era of deflation). Weak
US headline retail sales? Widening US trade deficit? USD lovers just don't care; they can only see "positive" data everywhere. Mind you...
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