Steve Barrow
Steve Barrow
Steve Barrowis a British reggae historian, writer and producer...
clear data december divert failed fed following hurricane minutes monetary policy saw weaker
The Fed has been on 'autopilot' with its monetary tightening so that even bouts of weaker data, such as we saw after hurricane Katrina, failed to divert the Fed off course. But now, following the minutes of the December meeting, it is clear that policy will become more data dependent.
bit brought comments happens hopeful perhaps pushing slightly trade
Dollar/yen is slightly higher, perhaps as a consequence of that, with some of the comments sounding a little bit more hopeful in the sense of them not pushing on the anti-China trade legislation that they've brought to Congress. But we'll have to see what happens when they get back (to the U.S.).
economy evidence recovery strong
Do we think it's going to happened? Not in the U.S., so then not in Europe, ... But then there's no evidence that the economy is going to show strong recovery either.
company dutch market selling
There is speculation in the market that a Dutch company is selling euros.
tough
We think it is unlikely, but it's a tough call.
buying data fed inflation opportunity saying speakers vigilant
Fed speakers are saying they are going to be vigilant on inflation and if the data suggests they haven't done enough, they will do more. It's a short-term buying opportunity for the dollar.
decide heading money problem targets
This is a problem of their own making, ... having two targets for money supply, which is heading higher, and inflation, which is on the way down. The ECB has to decide on one target.
closest fed official peak perhaps rates suggesting
This is perhaps the closest any Fed official has come to suggesting the peak on rates for now.
bank central euro european help interest raises
There may be some help for the euro if the European Central Bank raises interest rates,
dashed fed likely process support thoughts
Any thoughts that the Fed may end the tightening process are likely to be dashed and that will probably support the dollar.
comments looks recent remain sights stumbling
Our sights remain on a plunge to 80 cents. If Duisenberg's most recent comments are correct, it looks as if intervention is stumbling already.
against australia countries currency dollar weakness
There are other countries at the G20 that are aggrieved at the weakness of their currency against the dollar - Australia for one.
bodies call groups industry policy research
Politicians, industry groups and research bodies are all uniting to call on the ECB for policy action.
economy happens higher hike inflation meeting moving next pushed rate underlying weeks
We'd like to see it at the next meeting on Nov. 30. Underlying inflation is moving higher and Europe's economy is still strong. We will have to see what happens in the next two weeks ? it may be the next rate hike is pushed into next year.