Thursday January 28, 2016 - 12:12:53 GMT
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EXCLUSIVE: USD Poised To Adjust Lowet
I think the USD is now set up fundamentally for more weakness, meaning a EURUSD range of say 1.10-1.15.
With a night to digest the Fed statement yesterday, there is no doubt in my mind that the central bank has "reset' its policy. I am hearing that equity markets are unhappy that the Fed did not clearly signal a policy easing. What they did was to leave their options open for March, which makes a lot of sense. Personally I see little chance for action until data start to see a clear improvement. By data, my focus is on manufacturing. They can't tighten when this sector of the national economy is in recession.They are behind the curve and their best course of action now is to do nothing.
John M. Bland, MBA, CTA
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