Daragh Maher
Daragh Maher
accuracy apparent bank bearing given initial policy whether
Given the Bank of England's apparent wariness about the accuracy of this initial (GDP) estimate, it is questionable whether it will have much of a bearing on policy decisions.
bit days dollar few good last maybe numbers people period reasonably seems
The sense over the last few days seems to be that the dollar is reasonably well supported. We have had reasonably good numbers out of U.S. for a considerable period and the dollar did not rally, so maybe people are having a bit of a rethink.
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.
bit evidence focus growth nervous next pickup rally rate seen
I'd be a bit nervous about the pound's rally recently. We've not seen enough evidence of a pickup in growth and the focus is still on the next rate cut, which I think we'll get in February.
consumer mean performance revival
One month's out performance does not mean the long-awaited consumer revival has arrived.
bank concerns early ease england loss momentum months nervous none outlook
None of this will ease concerns for those at the Bank of England nervous about the outlook for consumption in the months ahead, particularly after the loss of momentum early this year.
euro generally holding improving inflation percent zone
We will probably see inflation holding around 2.4 percent and it is still benign. Things are generally improving in the euro zone and I don't think this story will be derailed by the PMI.
data direction dollar hangover soft worked yesterday
There is a big hangover from soft U.S. data we had yesterday which worked in the direction of dollar weakness.
against dollar european expecting gains reasonably seen small soft undo
We are expecting a reasonably soft number, which could undo some small dollar gains we have seen against European currencies.
creeps favor interest market rates structural time
Structural nervousness creeps into the market from time to time but interest rates still favor the dollar.
euro finance france higher ministers pressure push raise reluctance riots zone
There is a reluctance to push the euro/dollar higher because of riots in France and pressure from euro zone finance ministers not to raise rates.
business concerns confidence driven euro external keeps revival zone
There are concerns that the revival in euro zone business confidence has been driven by the external sector, which could be undermined if the euro keeps on rising.
boost china yuan
The yen also got a boost from the China story because the yen is a yuan proxy.