John Hardy - Federal Reserve System

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Last quote by John Hardy

The euro got a bit overextended on the recent run higher as it ran out of new good news to take it higher and the European Central Bank did its utmost to dampen expectations for the beginning of any asset purchase taper. As well, yesterday's FOMC (Federal Open Market Committee) meeting was less dovish than expected as the Fed kept its policy forecasts unchanged despite clear deceleration in inflation and a couple of bad data points yesterday.feedback
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Jun 15 2017
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which John Hardy is associated, including China and UK. Most recently, John Hardy has been quoted saying: “I think a lot of this is randomness – the "softer Brexit" idea is just a narrative from the U.K. – an interesting one, but hard to hang our hats on as things are in flux. Just as important is the EU perspective, and there, we have to consider the strong Macron victory and a couple of themes from that. Second, actual EU moves are isolating the U.K. – like today's measures aiming to have euro-denominated derivatives cleared only by EU-based banks – therefore requiring massive reshoring away from London.” in the article Markets need ‘concrete evidence’ to price in softer Brexit.
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John Hardy quotes

Jun 27 2016

The yen is a safe haven as long as risk sentiment is weak, but the market is also very wary of official intervention and with good cause.feedback

Jun 06 2016

With the UK referendum looming, it's arguable that considerable risk capital is sidelined for now and keeps euro/dollar within the range.feedback

May 24 2016 - RMB

We are seeing more dollar strength and a lot of it against the smaller currencies. The Chinese authorities are keeping the yuan exchange rate quiet, too, which is giving the Fed the room to wax lyrical and be as hawkish as they are being.feedback

May 18 2016

Japan's first-quarter GDP looked positive on the headline, but the nominal growth was slightly disappointing with the GDP deflator coming in slightly lower than expected.feedback

Apr 25 2016

The lower Brexit odds are pushing sterling higher with short bets against the pound, especially against the yen, being cut.feedback

Jan 06 2016

There is a very strong sense of risk-off again. It's also about China. The pace of the currency weakness, is this a sign that they are losing control a bit?feedback

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