Viraj Patel

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Last quote by Viraj Patel

Economic data isn't going to be a game changer as it is all about Brexit negotiations at the moment and sterling is going to be trading in a tight range until we see further clarity on that.feedback
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NEW Nov 17 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 Viraj Patel is associated, including Bank, England, and sell-off. Most recently, Viraj Patel has been quoted saying: “The only reason why investors are not selling the dollar aggressively is because (of) uncertainty around the tax plan progress even though the bond market is flashing a warning sign.” in the article Oil hits two-year high on Saudi purge, world shares retreat.
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Viraj Patel quotes

Sep 14 2017 - China

We view this dollar move higher as broadly a corrective move and now the question is how much the dollar can recover before the data.feedback

Sep 04 2017 - Brexit

If we manage to get through this bill without any major hiccups, you would expect sterling to get a bit of reprieve from that. (But) I wouldn't read too much into all the Brexit stuff that's going on this week - there's going to be a lot of noise.feedback

Aug 30 2017

This is what would give the Bank of England greater confidence to begin normalising monetary policy – which would undoubtedly be a positive sterling development.feedback

Aug 29 2017 - Brexit

We would need to see an additional layer of bad news to fuel any further politically-induced sterling selling. This seems unlikely in the absence of a Brexit disaster situation unfolding - that is a complete breakdown in UK-EU negotiations and renewed cliff-edge risks. Political will from both sides suggests the worst-case scenario will be avoided.feedback

Aug 22 2017

It is difficult to see President Draghi exceeding the intrinsic QE taper expectations priced into the euro, while he could choose to repeat the Governing Council's concerns over currency markets front-running ECB policy normalization.feedback

Aug 21 2017

Absent some Mario Draghi fireworks this week, buying on dips for euro/dollar may be a better strategy rather than chasing the euro higher at these levels.feedback

Aug 18 2017 - HSBC Bank

It is difficult to find any other domestic catalyst to more than offset this negative factor and drive the dollar higher in the near term.feedback

Aug 09 2017

Heightened geopolitical risks overnight have seen the markets flip from risk-on to risk-off and we have to wait and see how long this move runs before adding some positions.feedback

Aug 07 2017 - London

The number one question for bond markets right now is whether missing U.S. inflation over the past quarter has been transitory or transitional.feedback

Jul 31 2017

Our short-term positions indicators are flashing red in terms of extreme bets against the dollar, especially against the euro and the Aussie and in this kind of environment, a small negative surprise in data elsewhere can trigger a washout.feedback

Jul 21 2017

The dollar has fallen quite quickly in a relatively short span of time and any signs of stabilisation in economic data might trigger a burst of short covering so it is a good time to take some profits.feedback

Jul 21 2017

If you look at the euro's strength through the prism of euro zone financial conditions, they still remain very accommodative and a test of the 1.20 line is on the cards though that may be taking it near the ECB's danger zone for tolerance.feedback

Jul 21 2017 - Brexit

Sterling's weakness should not be underestimated in the current dollar-selling backdrop. The stagflation warning signs are flashing for the UK economy after this week's data, while any 'soft' Brexit euphoria is slowly beginning to fade as the reality of difficult negotiations begins to sink in.feedback

Jul 15 2017 - Federal Reserve

It is broadly a U.S. dollar-negative market as latest comments from Yellen and others suggest that interest rates will rise very gently and that is supportive for high-yielding currencies for now.feedback

Jul 11 2017

We had a bit of a corrective move on the sterling recently but markets are broadly treading water before the speech and some key data tomorrow.feedback

Jul 10 2017

Little sign of wage growth could trigger a BoE reality check. With markets still pricing in around a 45 percent chance of a rate hike later this year, we continue to believe that a dovish re-pricing – and a move lower in short-term UK rates – remains the key downside risk to sterling in the near-term.feedback

Jul 03 2017 - Brexit

Even if the post-Brexit 25 basis point rate cut is reversed, structural impediments are likely to keep UK interest rates anchored at historically low levels and this points to limited sterling upside from BoE policy.feedback

Jun 28 2017

There is a risk that the moves are a bit too aggressive relative to what the central banks are trying to tell us. In the case of the UK, this withdrawal of stimulus could just be one rate hike and not the start of a full-blown hiking cycle. So you've got to be careful about overshoots in these currencies.feedback

Jun 09 2017 - Brexit

We noted that maximum chaos would be if the Conservatives are only able to get somewhere between 290 to 325 seats; it's the grey area where it's not enough for a Conservative majority, but also potentially not enough to see a stable Labour-led coalition being formed quickly.feedback

Jun 07 2017

Tomorrow is what is being dubbed as 'Triple Threat Thursday', ... an event-filled day that could send global markets on a bumpy ride.feedback

Jun 05 2017 - Qatar

Even if May does just about enough to increase the majority - that could still potentially be sterling positive.feedback

May 02 2017 - Brexit

Markets have been disillusioned because, when it comes to data, it's been showing a different picture to the doomsday scenarios that economists had predicted in the initial aftermath of Brexit. It's hard for markets to continue hanging on to this sort of bearish outlook when the data's completely different (to what's predicted).feedback

Apr 26 2017

If it were that easy, everyone would do it. Though some positive effect on short-term growth is possible from tax cuts, this is likely to be inadequate to boost revenues to outweigh the costs.feedback

Mar 29 2017 - Brexit

The more market-relevant event to focus on will be the EU's initial response. This may prove to be the clearest steer yet on whether we're on course for a soft or hard Brexit.feedback

Mar 29 2017

We do see scope for more bad news to weigh on sterling in the next few days. With the two-year clock officially ticking, should officials place greater initial focus on factors like the divorce bill – and divert attention away from a transition deal – then we would expect sterling to react negatively.feedback

Mar 16 2017

The bar was high for the FOMC (Federal Open Market Committee) to deliver a hawkish surprise, and one could argue that asset prices, in particular bond yields and the dollar, had been reflecting overshot tightening expectations going into this meeting.feedback

Mar 13 2017 - Article 50

The actual triggering (of Article 50) is really in the price today.feedback

Mar 13 2017

Anything that delays this process, anything that pushes you away from getting closer to the end Brexit deal is sterling negative.feedback

Feb 28 2017

Our economists just don't see Westminster accepting a second referendum at least in the next 6 to 12 months. They don't want to be battling on two fronts.feedback

Feb 20 2017

I think this is a bit of a correction after what was a pretty negative week last week in terms of UK data.feedback

Feb 15 2017 - Japan

Is Trumpflation back with a vengeance? Probably investors will want to wait but it does seem that all of the cards for another bull run for the dollar may be falling back into place. There can only be upside risk going into Yellen's testimony this week.feedback

Nov 02 2016

But for sterling in particular you've got a bit of uncertainty ahead of tomorrow's Bank of England meeting and we've got this Brexit ruling as well – those could both bring favourable outcomes.feedback

Jun 28 2016 - Japan

We've had two days of massive sell-offs so this temporary reprieve is not unexpected, especially as we've had no new news – I think that's key.feedback

Mar 14 2016

Despite the large scale ECB easing last week, our economists are not looking for the BOJ to follow suit, certainly not in terms of a lower negative rate.feedback

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