On the heels of the my last post about dollar I found it pretty amusing to see articles this morning about how how the dollar has "crashed". To which I rolled my eyes. One penny is NOT a crash! The dollar is down two cents in the last two or three days. In contrast, from Dec to May the dollar was down eight cents. It was down one cent-ish before GDP was even released. The GDP report is only responsible for a ONE CENT move. Technically not even a full cent. Previous close was 96.66, and right now it's at 95.70. Yeah I can't believe I watch this shit either. And yes I'm cussing a lot more in my posts because things are just so frustrating.
The other thing I found fascinating was how people are reporting the GDP. When I heard the numbers before reading anything - I thought it was better than last quarter. Which is was. Last quarter we only grew at .09%. Or a revised .08%. Take your pick.
So naturally I expected the cacophony of articles telling me that GDP had surged. Which is what has been going on for the past couple of years. If a country was growing at .01 percent, and the next read was .03% - that was the most amazing news previously and worthy of exclamatory headlines about GDP surging. I'm not numb to it now, but it used to really drive me crazy. If you are only growing at .03%, you basically aren't growing.
I think dollar strength continues no matter what the idiots are saying.