Daragh Maher
Daragh Maher
chance december greater language market promising rate seize
The language from the ECB suggests they are not promising to do anything but they are not promising not to do anything either. The market will seize on anything that suggests a greater chance of a December rate hike.
comments commitment keeping mistake period prolonged rates recent rise unchanged
In the end, rates are set to rise and it would be a mistake to see recent comments as a commitment to keeping rates unchanged for a prolonged period -- low, yes, but not unchanged.
creeps favor interest market rates structural time
Structural nervousness creeps into the market from time to time but interest rates still favor the dollar.
decide interest meets month next output prices rise
The rise in output prices ... will not ruffle the doves unduly when the MPC meets next month to decide on interest rates.
committee decide interest meets monetary month next output policy prices rise
The rise in output prices ... will not ruffle the doves unduly when the Monetary Policy Committee meets next month to decide on interest rates.
cynicism degree deliver economic people terms unsure
There's a justifiable degree of cynicism about the new coalition. People are unsure about what it will deliver in terms of economic reforms.
boost china yuan
The yen also got a boost from the China story because the yen is a yuan proxy.
action euro interest market move next problem protecting rates rhetoric talk tougher
The more hawkish rhetoric we've had from the ECB and talk of the next move in interest rates being up is protecting the euro a little. The problem the market has is that it's tougher talk, but action is still some way away.
script
I don't see (Snow) deviating from the same script at all this week.
above euro european market push reluctant seen slowly
The market was reluctant to push the euro above $1.2150 and we've seen it slowly come down from there during European trading.
account change current data deficit dollar dollars drifting sell surprise underlying
The dollar is drifting downwards. There is an inclination to sell dollars -- the current account deficit is the underlying concern. We need to see a big upward surprise in U.S. data to change the sentiment.
although below forecasts growth inflation magnitude rate seen somewhat sufficient
Although growth and inflation have tracked somewhat below the forecasts made in the (November) Inflation Report, the magnitude has not been seen as sufficient to warrant a fine-tuning on the rate front.