At the end of the day, it continues to suggest that the U.S. labor market is firm. |
ECB hawkish-ness will make it harder to keep the dollar where it is. |
He doesn't say anything very specific about current monetary policy, ... In some ways for FX markets, which have got used to Fed speakers being relatively hawkish, this may be a little disappointing (for the dollar). |
He sounded a little bit hawkish so the market's been bidding up euros. |
If the Fed indicates another hike is not set in stone, we'd probably see some dollar weakness. |
It is a strong statement. |
It's very unlikely that ECB policy is going to change with any of the likely successors, |
It's very unlikely that ECB policy is going to change with any of the likely successors. |
Market sentiment has been shifting in the dollar-negative way for the last couple days. |
Markets had already pretty much priced in (hikes in) June and September. He's sounding hawkish, but the market was already leaning that way anyway. So we're getting a bit of a move here, but nothing major. |
On the plus side, Duisenberg's chosen his own timing, ... The minus is that there's going to be a lot of speculation as to who replaces him. |
On the plus side, Duisenberg's chosen his own timing. The minus is that there's going to be a lot of speculation as to who replaces him. |
The interest rate advantage that the U.S. dollar had enjoyed has receded sharply over the last couple of days. |
The police force isn't big enough to enforce that sort of thing. This is where community expectation and standard will have to hold sway. |
The U.S. recovery story is intact and the real side of the U.S. economy looks very positive. But you have concerns on the accounting front and they are very hard to quantify. |