S&P 500 cash weekly competition for 2017 with PRIZES!

This is a discussion on S&P 500 cash weekly competition for 2017 with PRIZES! within the Indices forums, part of the Markets category; I always enjoy other people's views on the current situation. Here is one of interest. The dollar correction cometh by ...

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Old Jan 5, 2017, 11:07am   #25
 
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Pat494 started this thread I always enjoy other people's views on the current situation. Here is one of interest.

The dollar correction cometh

by Simon Smith, Chief Economist

The issue with the dollar rally has always been its foundations. I highlighted this yesterday and this was also a feature in the Fed minutes released last night. The discussion over the economy reflected that participants “emphasized their considerable uncertainty about the timing, size, and composition of any future fiscal and other economic policy initiatives as well as about how those polices might affect aggregate demand and supply”. But that has to be balanced by the fact that almost all also indicated that the “upside risks to their forecasts for economic growth had increased as a result of prospects for more expansionary fiscal policies”. This point is interesting, as the upward revision to the 2017 growth forecast in the December ‘dot-plot’ was 0.1%, so for now the FOMC is seeing higher growth as more of a risk than a reality.
From this, it’s not difficult to spin the view that the dollar correction seen overnight is overdone as a pure reaction to the minutes, but this reflects the fact that the dollar rally is more vulnerable to correction. It’s also reflected in the fact that the biggest gainer against the dollar in the past twelve hours has been the yen, which has lost the most ground in the rally of the past two months. This could well be the emerging theme of January as we head to the inauguration of the next US President. Tomorrow’s employment report could play into that theme, but we would have to see something fairly wide of the 180k median to really impact the dollar, because it’s not been the economic data that has been driving the latest rally. For today, we have the ADP numbers ahead of tomorrow’s US employment report, but these are unlikely to upset the tone unless substantially off the 175k expectation.
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Old Jan 6, 2017, 1:29pm   #26
 
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Forgot it was NFP day this week....get ready for the 30 point rally....A week for the bulls I suspect.
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Old Jan 6, 2017, 11:52pm   #27
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Whose is the closest? I think I had 2282 and it closed 2270
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Old Jan 7, 2017, 12:03am   #28
 
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Quote:
Originally Posted by forker View Post
Whose is the closest? I think I had 2282 and it closed 2270
Yep, you've got gold Forker.

Waiting for Pat to stop partying and boozing. Podium write-ups down to him now.

Well done.
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Old Jan 7, 2017, 12:03am   #29
 
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Quote:
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Whose is the closest? I think I had 2282 and it closed 2270
2276.98 ive got as close.....looks like you bagged it fork's........Beginners luck lad ?
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Old Jan 7, 2017, 12:11am   #30
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F... Me first time wham bam
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Old Jan 7, 2017, 12:12am   #31
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2276.98 ive got as close.....looks like you bagged it fork's........Beginners luck lad ?
You can say that again. I know nothing of that market
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Old Jan 7, 2017, 12:20am   #32
 
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You can say that again. I know nothing of that market
Dont worry....your not alone.
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