Steven Englander

Steven Englander
below broke caught couple covering dollar euro happening market people side signal weeks wrong
What's happening with the dollar has little to do with the data. A lot of people were just caught on the wrong side when the euro broke below $1.2250. That had been the real signal for a lot of people in the market a couple of weeks ago, so now people are just covering their stops.
continues labor market suggest
At the end of the day, it continues to suggest that the U.S. labor market is firm.
chosen minus plus
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.
chosen minus plus
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.
line mostly people testimony
We thought the testimony was mostly in line with what people expected.
change policy unlikely
It's very unlikely that ECB policy is going to change with any of the likely successors.
dollar harder
ECB hawkish-ness will make it harder to keep the dollar where it is.
community enforce expectation force hold police sort standard
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.
number risk terrible
There's a risk you get a terrible number and there's no liquidity in the market,
indication raise rates
You raise rates and you say they are still low, that's an indication that you're going to raise rates again.
accounting concerns economy front hard intact looks recovery side
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.
dollar fed hike
If the Fed indicates another hike is not set in stone, we'd probably see some dollar weakness.
current fed monetary relatively speakers specific ways
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).
bit june leaning markets move
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.