Marc Chandler Quotes

"Factory orders don't really move the foreign exchange markets. But the underlying signal is that the U.S. economy is growing robustly, looking to 4.5 percent growth in the first quarter."

"The initial reaction to the budget was kind of blasé."

"The initial reaction to the budget was kind of blasŽ."

"On the fringes of the market, there is beginning to be some talk of the possibility that the Bank of Japan intervenes to sell U.S. dollars. While possible, the probability seems low at the present."

"The data shows that the housing market is not falling off the edge of a cliff, and the consumer confidence numbers are also better than expected so we're seeing a knee-jerk rise in the dollar."

"The data is stronger-than-expected ... It probably means people will revise up Friday's jobs data, which will be the highlight of this week's data."

"It's like they're talking past each other."

"Sentiment will swing back in favor of a Federal Reserve rate hike in August if June retail sales rebound."

"Should the weak economic tone persist into early second quarter data, the risk of a summer rate cut increases."

"I'd say hedging has nothing to do with what we've seen in the trade data."

"It's unreasonable to expect currency movements to affect trade balances when you have all these other disequilibria like wages."

"The economic performance is taking on even great significance in the market's understanding of the trajectory of Fed policy. Any disappointment with the Philadelphia Fed Survey could lead to renewed dollar selling."

"Through this tightening cycle the market has looked at every opportunity to say the Fed is done. The Fed is not done until the market gets ahead of the Fed and it is not there yet."