Daniel Katzive High Quotations

Oil prices have continued to move higher and equities have apparently taken it badly.

The yen continued to strengthen this morning at the expense of high yielding currencies such as Australian and New Zealand dollars as well as the US dollar.

I think the break of the big level last week ... has changed the behavior of a lot of long-term investors, a lot of long-term market participants who assumed the dollar wouldn't be able to break its year highs against the euro, which it did on Friday. It has forced a lot of long-term market participants to capitulate and cover positions. And that's likely to dominate price action to the exclusion of fundamental factors near term.