Hey…someone who is looking at the data…
Fed’s Lockhart weakened the dollar a bit. He actually spoke like a Fed official who is data dependent (just like they said they would be) – citing 1Q GDP that is soft. Some of the other Fed officials say "data dependent" but then argue for higher rates or say April meeting is "live". Whether he is right or not, at least his comments make sense vs the "data dependent" argument. PS unlike the Fed’s Beige book yesterday which said car sales were strong (last month was not), inventories were keeping up with sales (they are not), that manufacturing was picking up (-29 and -19K in jobs in the last two months in manufacturing).
Forex technical analysis: EURUSD heads higher on Lockhart but backs off…
