Jane Foley - Rabobank International

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Last quote by Jane Foley

There is a real risk that we get a choice between the far-left and the far-right, neither of which would be market-friendly, and both of which could leave the EU in a very different position than it's in today.feedback
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Apr 19 2017
This page is completely dedicated to what Jane Foley has to say. All of Jane Foley’s quotes are organized here by date and topic. The most recent quote attributed to Jane Foley came from an article called Pound surge suggests UK election will yield smoother Brexit: “Even though May looks set to secure a strong mandate from U.K. voters, the priority of EU negotiators heading into the Brexit talks remains the protection of the EU. The Brexit talks are still set to be tough and the result could still deal a blow to the U.K. economy.”.
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Jane Foley quotes

We have seen the market coming back on the yen a bit which is of course a safe haven play and if Trump's protectionism goes forth, there will be more concern about China, and that is supportive for the yen on the safe haven flow.feedback

What we?ve seen this year is more of a focus on the isolationist, protectionist policies of Trump. The market had chosen to ignore those last year, but now focus has swung back ... Protectionism is usually detrimental to growth.feedback

They're certainly could be room for relief rallies on those election results and not only that but since the start of the year we've had some better-than-expected German and other European economic data, which of course has started this debate about whether or not it's appropriate for the ECB to be doing so much easing.feedback

The market needs some more meat on the bones of reflationary policies if the dollar bulls are going to get another go.feedback

I think the dollar is already coming off its post-Trump honeymoon period. What could potentially give the dollar bulls a little bit more of headway is if he were to bring out some more detail about his policies, what is he going to do about fiscal stimulus, how is he going to lower corporate tax. (U.K. Prime Minister) Theresa May, I think, has been advertising what a busy schedule she's got. But of course, the negotiations for Brexit are yet to commence with European partners. So, I think once Brexit is triggered … we've got a volatile year ahead really.feedback

Whilst the far right is likely to get more support in the three countries that have general elections this year, they're not likely to form a government, so actually I think there's been a bit of relief coming back in the euro.feedback

It's clear that sterling is still very vulnerable to 'hard' Brexit fears. The uncertainty is itself also a negative factor, and I think perhaps that's one of the reasons for Theresa May's speech on Tuesday, to provide a little bit of clarification.feedback

There had been some concern that if Sarkozy was up against Le Pen, that would not be a particularly good circumstance.feedback

I think people were just pausing for breath. The rise higher in yields, coupled with the fact that people have been reducing dollar longs for most of this year, has really played into this. It is really setting the tone for all other markets.feedback

If Trump is able to follow through with these suggestions, Mexican activity will suffer greatly.feedback

There has been evidence that the drop in sterling has helped exporters and manufacturing industries but the uncertainties created by the volatility can negate some of the good effects.feedback

Sterling will be volatile and buffeted around by political moves related to whether we're going to get a hard or a soft Brexit.feedback

What we do know about Trump is that he favours protectionist policies. And what we know about protectionist policies is that they're likely to be inflationary. That brings on a layer of uncertainty to the Federal Reserve.feedback

Carney didn't need to give a decision until the end of the year but he came through early to get rid of some of the political uncertainty clouding the UK markets at the moment.feedback

The data is expected to show another decent pace of expansion that should bring some comfort on the economic front, although we saw last month with this data that the pound is dominated by politics instead of economics now.feedback

It is possible that banks' profits will continue to be supported by fixed income. The increase in volatility may support the number of transactions and could lead to higher profitability for banks.feedback

Politics this month has really taken precedence over the economic data ... sterling appears to be looking ahead into what still is a cloud of political uncertainty.feedback

Clearly Unilever won't be the only company wanting to pass on a 10 percent or similar price increase due to the fall in the pound.feedback

We have got a stronger dollar and that is the market now pricing in the likelihood of a December U.S Fed rate hike. The other theme is the weakness of Chinese exports. That does help turn the spotlight on the recent weakness of the yuan. Then of course there is sterling.feedback

Since the U.K. runs a significant current account deficit – 5.3 percent of GDP in 2015 – the pound is heavily exposed to downside risk on a drop in investment flow.feedback

Fat fingers, algos, low liquidity may all have been factors but it is possible that the move was exaggerated by the current vulnerability of the pound and the forecasts of some investors and economist that GBP still has further to fall as Brexit consequences come home to roost.feedback

Investors are nervous about the fact that we may be about to witness another leg of the financial crisis. The euro has performed poorly on the back of these jitters.feedback

The SNB has made it clear that it considers intervention as one of its policy tools and this is likely to limit upside potential for the Swiss franc.feedback

I think the yen will perform well if Trump looks more likely to win in November.feedback

The condition of the (UK) economy in the weeks since the referendum has not been as bad as feared.feedback

The dollar continues to remain soggy with June priced out and chances that the Fed will move in July waning. Investors will need some good payrolls data and signs of inflation picking up, before they are convinced that a rate hike in September is on the cards.feedback

That puts a different light on the BOJ meeting and suggests they might be more creative than the markets had given them credit for. Clearly we have seen the yen suffer on the back of that.feedback

The market isn't expecting anything particularly hawkish today so obviously anything that did appear hawkish would certainly be a bit of a surprise and would give the dollar a bit of additional support.feedback

The Chinese authorities clearly want to signal that it will not be a one-way trade in the renminbi.feedback

Bond yields across the board are now extremely low, and growth is also extremely low. So you've got to argue that a marginal decrease in interest rates from their already low levels is unlikely to bring a boom to either growth or inflation.feedback

I think this is a compromise deal. They are going to be given the money but it is clearly going to be drip fed to them and clearly this will prevent, hopefully, any escalation of any crisis, but it does mean that they are still being pressured really quite hard to keep on going through with these reforms.feedback

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