Adam Cole

We have [the dollar] going higher, but I think it's clearly going to be anything but a straight line, as today illustrates. There will be significant interruptions to that trend. I think they have the most value when they have novelty value, as they do with a new administration. We're at the early stages of figuring out what the administration means. It is a regime shift compared to what we've been used to for many years.” said Adam Cole on this article: Turbulence is hitting the US dollar, but here's the direction strategists see it going. This page contains 17 articles quoting Adam Cole. Main topics on which Adam Cole is quoted are Aussie and Japan. In addition you’ll find 25 quotes there. All these quotes are mentioned on this page and you can filter them by date and by topics.

Adam Cole quotes

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Particularly, for some of the developed countries – Japan, the euro zone and Germany–there isn't a huge amount they can do without taking the huge step of imposing bilateral tariffs or something as draconian as that. We think we're a long way from that.

We have [the dollar] going higher, but I think it's clearly going to be anything but a straight line, as today illustrates. There will be significant interruptions to that trend. I think they have the most value when they have novelty value, as they do with a new administration. We're at the early stages of figuring out what the administration means. It is a regime shift compared to what we've been used to for many years.

The euro move may be related to the German data, which were a fair bit softer than expected... The euro would normally go up in a risk-off environment. Dollar/yen is still lower which is consistent with markets being risk-off.

Concerns on protectionism appear to be rising after President Trump's executive order to restrict immigration.

We're seeing a dollar reversal across the board and cable (sterling/dollar) is just getting caught up in that - it's fair to say the newsflow is still very positive for sterling. Though there is clearly going to be several weeks of debate now in both houses, I don't think that's going to have that much effect on sterling because we know the bottom line is that neither house is going to block the legislation. So I think politics goes quite quiet now (for sterling) until we get to the point when Article 50 is triggered.

We put out a positive sterling recommendation at the start of the week but we have taken profit on that now. It is likely to go quiet now until after Article 50 is triggered and will need the data to turn from positive to negative or the politics to get ugly before we see another leg lower.

If you were to look back at recent performances, it's rare that she's said anything that's been taken positively, so the risk - if you had to go one way or another - is that she again pushes the market in the direction of a relatively hard exit, which is not a positive for the currency.

The main question for most economists is still the timing of the negative impact of the referendum outcome … It's going to be hard for sterling to make a lot of traction on the back of economic data which is still lagging events.

The market seems to be reacting quite sceptically to the strength of the data, possibly because it appears to be so at odds with the way the hard data for manufacturing have been coming in recently, which is soft and setting us up for a weak Q4.

Markets have settled down after yesterday's big moves.

These are the first PMI releases post-referendum to be surveyed against the background of a rising exchange rate. The fact that the PMI disappointed and export orders in particular disappointed is a warning that the manufacturing sector in particular might be less robust than it appears if you take away the prop of a falling currency.

In some ways the pound is a mini-dollar.

That meant that others took the heat. But the pound is also riding on the coat-tails of the dollar.

Broad gains are clearly meeting more resistance, as a December Fed hike is now 95 percent discounted and much uncertainty still surrounds the broader direction of US economic policy under President-elect Trump. Widespread reports that infighting among the transition team is hampering the formation of the government are probably not helping.

Infighting among the transition team is hampering the formation of the government are probably not helping.

With the BoE likely to look through a transitory acceleration in inflation, the main effect will be to squeeze households' real income as prices rise more quickly than wages, crimping consumer spending.

We think higher inflation is negative news for the pound --the opposite to the typical impact of positive inflation surprises on G10 currencies recently. With the BoE likely to look through a transitory acceleration in inflation, the main effect will be to squeeze households' real income as prices rise more quickly than wages, crimping consumer spending.

Because imports are bigger than exports, the deficit will get worse, though this may come through to a greater degree in the August data than today's July release.

The Aussie ...is pulling the other commodity currencies up. The expectation was that the minutes of the RBA meeting would have set us up for another cut in June, and that was very much not the case.

Having had such seemingly unambiguous guidance from the other FOMC speakers ... where the message seemed to be very clearly to markets: you've taken this too dovishly, Yellen seemed to send the opposite message.

Negative oil price momentum is negative for Canada generally, given that it's a major oil exporter, and also it seems to have become the case that BOC (Bank of Canada) rate expectations are also linked directly to the oil price.

We think the euro is about fairly valued on most measures. If in terms of its longer term competitiveness the fair value estimates are $1.20 to $1.30ish, so if it is overvalued, it's only marginally so.

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