There is some talk in the market that the ECB could move today but we think this is unlikely,
More Quotes from Craig Chan:
The Bank Negara meeting today (Jan 20) could be a key event. They may wait to hike rates but core inflation is rising and the market is demanding more monetary tightening.Craig Chan
Some of the Asian currencies are following the yen. As the yen goes stronger, then there's some trade influences on those economies.
Craig Chan
The focus will be on payrolls, and the market is looking for a significant fall as we are still seeing the effects from Hurricane Katrina. It is worth holding long bond positions.
Craig Chan
The hurricane impact in the fourth quarter is going to be quite evident and people will look beyond that. Growth is still going to be solid in the first half and the market is slightly under-pricing the risk in Fed tightening.
Craig Chan
From the currency perspective, there's definitely been a search for yield. The general weakness in the equity markets hasn't provided any support to regional currencies.
Craig Chan
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