Monetary policy expectations were the driving forces on the FX (foreign exchange) markets in most of 2005 and while we expect structural problems to come back to haunt the dollar in 2006 we expect monetary policy expectations to lend support to the greenback early in the year.
More Quotes from Niels Christensen:
The tone from the Bank of Canada has softened lately and upbeat data are needed to intensify rate hike expectations.Niels Christensen
There may be a few flows from some parts of Europe, but there are no major flows, and there's certainly no fresh news to trade, and there's been no surprises.
Niels Christensen
Sentiment against the dollar is deep-rooted. Every time we have a pullback in eurodollar new buyers emerge.
Niels Christensen
The market will be watching the consumer prices report, as the minutes have made it clear the Fed is watching inflation. The economic data has been strong and supportive for the dollar.
Niels Christensen
Given that the dollar was unable to really bounce on the back of lower than expected trade deficit yesterday, it seems a bit unlikely that even if the retail sales show nice gains that (it) will be able to really benefit from such data.
Niels Christensen
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