Daragh Maher
Daragh Maher
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.
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.
creeps favor interest market rates structural time
Structural nervousness creeps into the market from time to time but interest rates still favor the dollar.
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.
associated catalyst creating deliver exit itself market move political recovery strategy stretched
If the BOJ can deliver an exit strategy without creating undue political friction, it could be the catalyst for some associated recovery in the yen, a move that will only be amplified, the more stretched the speculative market allows itself to become.
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.
boost china yuan
The yen also got a boost from the China story because the yen is a yuan proxy.
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.
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.
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.
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.
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.
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.
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.