Why is the Dollar at New Lows? – Weekly Market Report

Good morning,

What’s in this week’s Report:

  • Why Is The Dollar At New Lows?
  • Tax Cuts – Where Do We Stand?
  • Oil Update
  • Momentum Indicators – More Signs of Weakness
  • Weekly Market Preview (A Lot of Important Numbers Are Coming)
  • Weekly Economic Cheat Sheet

Futures are fractionally lower following a generally quiet weekend for markets, outside of Hurricane Harvey.

Hurricane Harvey caused RBOB gasoline prices to spike to 2 1/2 year highs and pushed oil prices down 1%.  At this point, the economic impact of Harvey remains a local one for commodities markets and the region.  Refined product markets will recover in time, as will the resilient people of Houston.

The biggest non-Harvey story in markets this morning is the dollar, which sunk to a 16 month low while the euro surged to a 2 ½ year high.  The catalysts were two-fold:  Draghi didn’t ta