From the floor of the CME group Dan Collins, Traders Exclusive Contributor talks about the low market, the Fed and the dollar indexes. Collins says the low market open could be due to the positive numbers in GDP and unemployment or the negative earnings reports. He says there has been a long risk on/ risk off period where good new has been bad and bad has been good because it would lead more intervention by the Fed. He hopes the market is coming out of the period and we can start looking towards fundamentals to lead the market. Collins says at some point the taper needs to end. We are now down to 25 billion and continued tapering in October of this year should lead to tightening of interest rates in the second quarter of 2015. Collins says the dollar index is at a year long high, close to breaking out of a range.
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