The first thing the market is jumping on is the prospect of the Fed hiking sooner on the numbers. I’m still unsure as I’m wary of the lack of change in the earnings numbers and unemployment rate. Something doesn’t tally but the market is ignoring it for now.

There’s also a Hilsenrath WSJ piece out yesterday that the market is still looking at, that says senior Fed economists might start raising rates soon. They have run a study and model called FRB/US which simulates the path of rates which results in the quickest possible return to low unemployment and the Fed’s inflation target. The study shows that the Fed should raise rates right now, followed by hikes to 1.4% by Q4 2015, 2.6% Q4 2016 and 3.5% by end of 2017

Hilsenrath notes that Yellen pays particular attention to these studies.

It’s another perfectly timed bullish piece that the dollar is responding too

USD/JPY has touched 121.39 and settled at 121.15 while the numbers get crunched

EUR/USD found support again at 1.2280 and hovers close by at 1.2292

GBP/USD fell to 1.5619, another prior support level this week and is 18 pips better off

AUD/USD is still hurting and down at 0.8331 from an 0.8319 low