ActionfigureJoe Posted September 8, 2017 Share Posted September 8, 2017 Dollar Deepens Dive as Caution on Currency Grows Hopes fade further for a Fed rate increase, Trump agenda; ‘the dollar can’t find any loving at the moment’ Kenan MachadoSept. 8, 2017 4:32 a.m. ET By Kenan Machado The dollar was hit by fresh selling in Asian trading Friday, a day after notching a 2½-year low, as reasons for caution on the currency continued to mount. The Wall Street Journal Dollar Index was off 0.4% in Asia to 84.38, putting it down 9.2% for the year. Thursday’s 0.7% drop was part of a broader move by investors into haven assets such as gold and government debt—a dollar “capitulation trade,” said Rob Rennie, currency-strategy chief at Australian bank Westpac . It was fueled in part by the European Central Bank, which raised growth forecasts and thus spurred the euro. The action highlighted how market sentiment has shifted as 2017 has progressed. The year began with high investor hopes that the Trump administration’s program of infrastructure spending, tax overhaul and regulatory cutbacks would cause long-muted U.S. growth to accelerate. But the enthusiasm has waned as months pass without legislation, despite Republican control of not just the White House but Congress. The dollar fell Friday to a 32-month low against the euro in Asian trading—the euro nearly topping $1.21—while it hit another 10-month low versus the yen, at ¥107.62. That compares with around $1.1865 and ¥110.25 at the end of last week. A litany of factors is putting fresh pressure on the dollar. Doubts that the Federal Reserve has the firepower, or the will, to raise interest rates again this year, given soft inflation, only grew when the country’s fourth-largest city was flooded by a massive hurricane—and with the prospect of an even-stronger storm cutting through the length of Florida, the country’s third-biggest state by population. The dollar fell to a 32-month low against the euro, which neared $1.21, after the European Central Bank raised its growth outlook. Photo: philippe wojazer/Reuters Given the economic devastation left by Hurricane Harvey in Texas and the potential for more from Irma in Florida, a rate increase in the near term would be “politically incorrect,” said Stephen Innes, head of trading in Asia at forex broker Oanda in Singapore. Haven moves are also at play, with rallies in gold and government debt. Gold is at its highest level in a year, topping $1,350 a troy ounce, while there has been broad buying of global sovereign debt in recent days. Yields on 10-year U.K. bond fell back under 1% during Asian trading Friday while yields on 10-year Japanese debt dropped below zero. The market is concerned that North Korea will launch another missile Saturday, when the country celebrates its founding—the occasion for a nuclear-bomb test last year. “The dollar can’t find any loving at the moment,” said Rodrigo Catril, a foreign-exchange strategist at National Australia Bank in Sydney. Given the unresolved fiscal issues in the U.S.—debt-ceiling measures “kicked down the road again”—and political wrangling between President Trump and his own party, he adds, it isn’t hard to understand why. Write to Kenan Machado at kenan.machado@wsj.com Quote Link to comment Share on other sites More sharing options...
Anler Posted September 8, 2017 Share Posted September 8, 2017 Should anyone be surprised? $20 trillion in debt, increased military spending and more wars on the horizon. We will be at $30 trillion by the end of Trumps 1st term. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 1 minute ago, Anler said: Should anyone be surprised? $20 trillion in debt, increased military spending and more wars on the horizon. We will be at $30 trillion by the end of Trumps 1st term. I've been told R's are fiscallly responsible? Many on here believe that to be true and state that as a major reason they support R's. With an R Congress and Prez along with a return to trickled on economics why can't we assume a decrease in the deficit? Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted September 8, 2017 Author Share Posted September 8, 2017 8 minutes ago, Anler said: Should anyone be surprised? $20 trillion in debt, increased military spending and more wars on the horizon. We will be at $30 trillion by the end of Trumps 1st term. this is going to far worse than anyone expected. a probable conflict with NK and one immense natural disaster and another in the making.... with more hurricanes on the way. should be an interesting winter. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 14 minutes ago, ActionfigureJoe said: this is going to far worse than anyone expected. a probable conflict with NK and one immense natural disaster and another in the making.... with more hurricanes on the way. should be an interesting winter. It's weird how this kind of stuff makes you so giddy. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 2 minutes ago, Biggie Smails said: It's weird how this kind of stuff makes you so giddy. As an avid Dump supporter - what are your thoughts on the OP? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 Just now, SnowRider said: As an avid Dump supporter - what are your thoughts on the OP? You know...I've grown tired of answering you and Shitslingers questions when all I get in return is more questions and assorted other bullshit. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted September 8, 2017 Author Share Posted September 8, 2017 2 minutes ago, Biggie Smails said: It's weird how this kind of stuff makes you so giddy. the hurricanes are a surprise. the upcoming constitutional crisis, major war, and economic disaster isn't. i just hope that some trump voters will have the fucking balls to at least say "oops". that's a doubtful thought though. theyll all be......at least hillary didn't get in. 2 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 (edited) 3 minutes ago, Biggie Smails said: You know...I've grown tired of answering you and Shitslingers questions when all I get in return is more questions and assorted other bullshit. Sorry to hear that. We always looked to you as a beacon for informed opinion and information on the forum. Maybe another forum conservative can step-up and fill the void you're voluntarily leaving behind...... Edited September 8, 2017 by SnowRider Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 7 minutes ago, SnowRider said: Sorry to hear that. We always looked to you as a beacon for informed opinion and information on the forum. Maybe another forum conservative can step-up and fill the void you're voluntarily leaving behind...... Self awareness is not strong with you. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 9 minutes ago, ActionfigureJoe said: the hurricanes are a surprise. the upcoming constitutional crisis, major war, and economic disaster isn't. i just hope that some trump voters will have the fucking balls to at least say "oops". that's a doubtful thought though. theyll all be......at least hillary didn't get in. Giddy for failure....I hope Lance anally fucks you to death you bald headed fuck. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 (edited) Hurricanes are not as big as hit on the economy as one would think. Short term yes but long term they are not as bad. Edited September 8, 2017 by Highmark Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 3 minutes ago, Highmark said: Hurricanes are not as big as hit on the economy as one would think. Short term yes but long term they are not as bad. And your point? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 (edited) 1 minute ago, SnowRider said: And your point? I don't blame poor economic performance on Hurricanes. Location has an impact because if they hit where people can and will rebuild changes things. For example Katrina had more negative impact than some of the places in Florida that will get hit. I don't think even Katrina caused a significant hit to GDP. Edited September 8, 2017 by Highmark Quote Link to comment Share on other sites More sharing options...
1jkw Posted September 8, 2017 Share Posted September 8, 2017 Increase military spending, cut taxes , cut bank regulations, what could possibly go wrong? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 35 minutes ago, 1jkw said: Increase military spending, cut taxes , cut bank regulations, what could possibly go wrong? It's just a cycle The poor R's usually end up at the bottom of it for some reason Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted September 8, 2017 Share Posted September 8, 2017 3 minutes ago, SnowRider said: It's just a cycle The poor R's usually end up at the bottom of it for some reason Your predictions are always so spot on. Quote Link to comment Share on other sites More sharing options...
Pete Posted September 8, 2017 Share Posted September 8, 2017 2 minutes ago, AKIQPilot said: Your predictions are always so spot on. right? Clinton WILL be president..Looks like he ended up on the bottom of this cycle. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted September 8, 2017 Platinum Contributing Member Share Posted September 8, 2017 4 minutes ago, AKIQPilot said: Your predictions are always so spot on. Yep - anyone who did not support Dump is proving to be spot on 👍 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted September 8, 2017 Share Posted September 8, 2017 18 minutes ago, SnowRider said: Yep - anyone who did not support Dump is proving to be spot on 👍 Yeah. Keep dreaming it up....SeRena Dum Chin Quote Link to comment Share on other sites More sharing options...
Anler Posted September 8, 2017 Share Posted September 8, 2017 2 hours ago, SnowRider said: I've been told R's are fiscallly responsible? Many on here believe that to be true and state that as a major reason they support R's. With an R Congress and Prez along with a return to trickled on economics why can't we assume a decrease in the deficit? Yeah, R's refer to themselves as "conservatives" but they are everything but. Especially when it comes to fiscal issues. They are all for spending for things that make them hard like bombs and tax cuts for corporations and billionaires. But when it comes to every day americans, they need bootstraps. Maybe poor people should pray more? Quote Link to comment Share on other sites More sharing options...
ICEMAN! Posted September 8, 2017 Share Posted September 8, 2017 9 minutes ago, Anler said: Yeah, R's refer to themselves as "conservatives" but they are everything but. Especially when it comes to fiscal issues. They are all for spending for things that make them hard like bombs and tax cuts for corporations and billionaires. But when it comes to every day americans, they need bootstraps. Maybe poor people should pray more? Trumpsters Anler Quote Link to comment Share on other sites More sharing options...
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