Is the US economy much stronger than believed?
It’s starting to look that way. EUR/USD is down to 1.1700, which is the lowest since September 11.
It’s a similar story across the board and validates the strength in equity markets lately. The rub is that a big portion of the equity market rally is based on the idea of rate cuts and the strength in these numbers is a risk to the inflation outlook. In turn, Fed pricing further out the curve has shifted into a significantly less-dovish position
US dollar jumps on a full slate of upbeat economic data. Stock futures fall