David Powell
David Powell
hikes hints
These are the first hints that the end of the hikes may be coming.
cash continue december money paper profits turn
They continue to take those paper profits and turn them into cash ... because they have to show real money on December 31.
across attention attribute dollar movement result sold weakness
It really got attention in Asia...as a result the dollar has pretty much sold off across the board. We can attribute this dollar/Cad movement to across-the-board dollar weakness to the Greg Ip article.
based best earn four man results understood
It is understood that the highest-ranked man and woman, based on his or her four best results over a two-year period, will each earn a six-figure jackpot.
actual basis expected further hike indication people points statement
It's pretty much universally expected they'll hike 25 basis points but I think what will be more important is the actual wording of the statement where people will look for further indication of further hikes.
disregard effect looks market
One can't disregard the short-term effect of market psychology, and it looks like that's what was going on here today.
canadian direct higher impact katrina perhaps refer terms
I don't think they'll refer to Katrina in terms of its direct impact on the Canadian economy, but perhaps its impact on higher oil,
account action canadian capital current driver fears fund inflation main served
The main driver of today's action as a whole was not the Canadian inflation report. It was the (net capital flows) data, which served to alleviate fears that the U.S. won't be able to fund its current account deficit.
definitely lend merger support
An announcement of a merger or acquisition can definitely lend short-term support.
bullish buy canadian despite dollar happy market reason remains sell
The market remains very bullish on the Canadian dollar and is happy to buy it when they have a reason to, but they don't really want to sell it, despite what they're being told by the market.
coming continue countries interest rate sensitive
The U.K. is an eye-grabber. These are petrodollars coming from the OPEC countries through intermediaries in London. Petrodollars continue to be very sensitive to interest rate differentials.
below course fact less monetary reflection somewhat statement sure traders trouble
You can see that dollar/Canada's had trouble going below C$1.15. I think that's a reflection of the fact that the statement was somewhat less hawkish, and traders are less sure about the course of monetary tightening in Canada.