The press conference by the ECB is going to be hawkish and the president is going to make sure to add the words 'being vigilant,' regarding inflationary expectations. That could actually increase the chances of a March rate hike.
More Quotes from Ashraf Laidi:
Today's data are very heartening, especially after Alan Greenspan yesterday played down any potential risks that the United States is having difficulty in financing its trade deficit.Ashraf Laidi
The report came in below the psychologically important 60 billion figure many had been expecting due to mounting oil imports.
Ashraf Laidi
We can expect to see worse numbers to come. The simple reason is when there is a rise in oil prices that increase in oil price for a particular month does not tend to spill over into the trade deficit until the next month.
Ashraf Laidi
After the dollar got hit most of last week following the record U.S. current account deficit, coupled with violence in Iraq and Saudi Arabia, players are now looking to partially unwind their dollar shorts and await tomorrow's ZEW (economic sentiment) survey out of Germany,
Ashraf Laidi
The speech is as expected. He opens the door basically for further interest rate hikes. It shows he totally agrees with the last FOMC statement that said short-term interest rates hikes 'may' be needed.
Ashraf Laidi
Markets always have a tendency to overreact when they have news.
Ashraf Laidi
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