Daniel Katzive
Daniel Katzive
buy currency good short
Short term, it is good to buy the currency on dips.
backdrop carry cut data good momentum neutral positions provide rebuilding trades
The data suggests the big momentum positions which had mirrored carry trades have now been cut back to much more neutral levels, which should provide a good backdrop for carry trade rebuilding in the new year.
backdrop dollar global good growth needs remain
The dollar needs a good global growth backdrop to remain well supported.
aversion bit crude ease equity global helped markets moderate prices risk tone
The better tone in global equity markets as crude prices moderate a bit has helped ease risk aversion concerns, to the dollar's benefit.
change definitive quarter second soon
We think it's really too soon to see a definitive change from the BOJ. It's more of a second quarter story.
continued dollar fed markets price reason staying strong
The reason the dollar is staying strong is because markets have continued to price in more Fed tightening.
canadian flows strength
We see strength in energy-related flows into the country, which underpins the Canadian dollar.
adjustment dollar interest weakness week
There's more to the dollar weakness this week than just an adjustment in interest rates.
apparently continued higher move oil prices taken
Oil prices have continued to move higher and equities have apparently taken it badly.
amount currency downside fair fed remains surprises upside vulnerable
Moreover, with a fair amount of Fed tightening now priced in, the US currency remains more vulnerable to downside surprises than upside surprises.
boost borrowers costs course currency funding lowest yield
It's got to be the yen. That is the currency with the lowest yield and borrowers can be comfortable that the BOJ is not going to significantly boost their funding costs over the course of the year.
data dollar environment heading likely market prevent remain strong timing
Data has been strong enough heading into year-end to prevent market participants from making strong conclusions on the likely timing of the end of the Fed's tightening cycle, and in this environment the dollar is likely to remain well-supported for now.
australian continued dollars expense high morning strengthen zealand
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.
begins coming data dollar economics likely renewed slow team
If US data begins to slow markedly in the coming weeks, as our US economics team suspects, the dollar is likely come under renewed pressure.