They can hike and sound dovish, but I'm not sure they can sound dovish enough.
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"The speech read more dovish than his prior remarks but was not, in our view, a dovish speech."
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"If the Fed comes out dovish or more dovish or as dovish as markets are pricing, it will weaken the U.S. dollar, which will add to gold's allure," Innes from SPI Asset Management said.
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But Fed officials, in recent comments, began to sound more dovish, pointing to concerns about financial conditions overseas Traders had been hoping for a dovish sounding Fed chairman but Powell was even more dovish than expected.
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A dovish statement was anticipated, but it leaned a little bit more on the dovish side than I would have expected.
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The minutes did suggest the Fed's policymakers are split between two camps, but those appear to be Dovish and More Dovish.
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Bullard said "this is not a good situation to have", as the market is more dovish than the most dovish FOMC member.
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That was more dovish than people were expecting at the margin, even though the market was looking for a dovish Fed today.
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" "Is the dovish Fed and the dovish move from the ECB enough to make this a one-off quarter before growth reasserts itself?
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"That was more dovish than people were expecting at the margin, even though the market was looking for a dovish Fed today," said Tomes.
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"I think by doing it, they look dovish, and they want to be as dovish as possible," said John Briggs, head of strategy at NatWest Markets.
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"Markets have scaled back their dovish expectations of late, allowing some room for a dovish surprise," market strategists at ING wrote in a note to clients.
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"There's a tendency always for presidents to select dovish chairman and dovish policy members in order to perpetuate the economic cycle for the next election," he said.
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Strategists said the Fed statement was very dovish, even more so than expected, and Fed Chairman Jerome Powell was also dovish during a post-statement press briefing.
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"I think the ECB policy was quite dovish as the forward guidance was prolonged, but the market was hoping the bank would be even more dovish," said Daiwa's Ishizuki.
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The Fed is expected to raise interest rates Wednesday by a quarter point, and the pressure is on for Fed Chairman Jerome Powell to sound dovish — but not too dovish.
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Wilson warned of further "hurdles" to clear, including more negative economic and earnings data and the need for the Fed to shift from a more dovish tone to more dovish action.
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In breaking down the MPC's likely voting tendencies, Buckley pointed out that external MPC voting member Gertjan Vlieghe is dovish, while after today Carney can unambiguously be described as very dovish.
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" BRUCE MONRAD, CHAIRMAN AND TRUSTEE OF NORTHEAST INVESTORS TRUST IN BOSTON "The statement seems to be a little more dovish and the dots moved down and that's pretty dovish as well.
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"I think there is a bit of a sigh of relief because a dovish Fed official came out and was dovish," said Anna Rathbun, director of research for CBIZ Retirement Plan Services.
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"It might be more of a dovish hike," Taylor said.
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The dovish ECB stance helped underpin appetite for European stocks.
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He spoke after dovish remarks by the U.S. Federal Reserve.
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And there was talk about dovish positioning rather than hawkish.
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But the market was hoping for a more dovish outlook.
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"People are positioned for a dovish hike," BMO's Gallo said.
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"He comes out and he's hawkish and dovish," said Briggs.
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Since that time the Fed has sounded much more dovish.
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The minutes Wednesday are from the dovish meeting March 16.
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Solomon: Well those were your words too hawkish too dovish.
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Conversely, anything more dovish could keep the dollar pinned down.
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The Fed's dovish stance also boosted equity prices last week.
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It's a little more neutral than I would say dovish.
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For now a dovish Fed is likely to support gold.
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Here, Deutsche Bank analysts see both dovish and hawkish catalysts.
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Their removal does not indicate a dovish turn, Demirtas said.
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Wednesday's dovish Fed meeting has put a bid behind commodities.
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Charles Evans who's very dovish is saying wait and see.
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The new plot is noticably more dovish than in December.
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Fed rhetoric, though, has shifted to more dovish tones lately.
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Lagarde further struck a dovish tone at her news conference.
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The surprise would be if she were to sound dovish.
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I don't think its hawkish, its either dovish or neutral.
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Some analysts said the minutes could strike a less dovish tone than Fed Chair Janet Yellen struck last week, while others said the minutes would not be consequential since Yellen's dovish view remained paramount.
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"If this had come out last Wednesday, I don't think it would sound dovish, but given the change in the markets since then, it's dovish." said John Briggs, head of strategy at NatWest Markets.
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"The ECB was dovish yesterday and the expectation is the Fed will also be dovish while the BOE is still expected to sound relatively hawkish," said Lee Hardman, a currency strategist at MUFG in London.
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Christian Lawrence, a senior market strategist at Rabobank, said that while there has been a gradual rise in dovish-ness over the last three meetings, this meeting's message has been the most dovish so far.
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In the short term, a dovish ECB is producing the stronger dollar dynamic and that is keeping a cap on gold here, McKay said, adding that dovish central banks will eventually be bullish for gold.
|
|
There was a slightly dovish slant to the Fed's latest statement.
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|
" JAMIE COX, MANAGING PARTNER, HARRIS FINANCIAL GROUP, RICHMOND, VIRGINIA "Dovish hike.
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He expects the general tone of the Fed to remain dovish.
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|
Investors prior to Draghi's comments had priced in a dovish message.
|
|
The Frankfurt-based institution surprised markets with a renewed dovish tone.
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More dovish remarks from the BoE could send sterling even lower.
|
|
Bullard, however, struck a more dovish note in his Monday remarks.
|
|
Emerging market currencies fared far better from the Fed's dovish confirmation.
|
|
A more dovish Fed is now priced in to the market.
|
|
The Fed president was not as dovish as some had expected.
|
|
Kohli said the market is still anticipating a very dovish Fed.
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|
"The language was a bit more dovish than expected," he said.
|
|
Markets are saying it's not hawkish or dovish, it's very neutral.
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|
Such an outlook is known as "dovish" in financial market jargon.
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Policymakers in Europe have also shifted to a less dovish stance.
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|
Powell is seen as the most dovish of the Republican candidates.
|
|
If anything it had a dovish tilt, there were no surprises.
|
|
It needs volatility in equities, weaker economic data, a dovish Fed.
|
|
The European Central Bank's surprising dovish hand further fuelled growth concerns.
|
|
The problem is that Trump's instincts are not actually that dovish.
|
|
" JAMIE COX, MANAGING PARTNER, HARRIS FINANCIAL GROUP, RICHMOND, VIRGINIA "Dovish hike.
|
|
Trump's arguments for dovish monetary policy are often incoherent or nonsensical.
|
|
Monetary Policy remains highly accommodative with Fed shifting to 'dovish' tone.
|
|
"While this was a dovish hike from the stance that the Fed was in before, this is somewhat not as dovish as many participants probably wanted," said Charlie Ripley, senior investment strategist for Allianz Investment Managemet.
|
|
Following European Central Bank President Mario Draghi's dovish comments on Tuesday which dented the euro and boosted emerging market carry trades' allure, developing world investors are now keen to see how dovish the Fed will be.
|
|
"Given that Yellen's comments post-meeting have been more dovish, I think the market will frankly ignore anything that isn't dovish," said Sharon Stark, chief fixed income strategist at D.A. Davidson & Co in St. Petersburg, Florida.
|
|
The National Bank of Hungary, central Europe's most dovish central bank, left interest rates unchanged on Tuesday and reiterated its dovish stance despite a continued rise in inflation near the top of its 212.19-210.36% target range.
|
|
"Draghi was leaning dovish and there are also dovish expectations for the Fed minutes this afternoon," said Tai Wong, head of base and precious metals derivatives trading at BMO, adding that U.S. consumer price data was mild.
|
|
The Fed is dovish, but the market has fully priced that in.
|
|
But the overall tone of today's statement was a little more dovish.
|
|
S. trade deal, and more dovish stance by the U.S. Federal Reserve.
|
|
Analysts noted that the markets didn't seem to appreciate the dovish bent.
|
|
"The markets took (Draghi's comments) as a little bit dovish," he said.
|
|
If the dovish trade in the euro continues, what will do well?
|
|
The spectre of a "dovish rate hike" kept the dollar in check.
|
|
The statement also referenced a lowering of inflation expectations, a dovish development.
|
|
"This reads dovish," said Andrew Kelvin, senior rates strategist at TD Securities.
|
|
It believes a "dovish hike" is more likely than a "hawkish hold".
|
|
Many central banks have made dramatic dovish pivots, re-igniting market rallies.
|
|
That stance has contrasted with dovish guidance this week from the Fed.
|
|
The yield rise has been capped by dovish central bank policy globally.
|
|
But if Fed officials get too dovish, they'll regret it, Fisher contended.
|
|
A dovish shift from the United States Federal Reserve, easing China-U.
|
|
On the dovish wish list, this was the best you could get.
|
|
The central bank's policy statement released Wednesday was viewed as largely dovish.
|
|
A regular old dovish statement may not be good enough for stocks.
|
|
A dovish outlook from the Fed has boosted sentiment about emerging markets.
|
|
Seen so far: cautious taper, dovish taper, quasi-taper and technical taper.
|
|
Dovish views from major central banks on Wednesday failed to help gold.
|
|
It was a sharp dovish turn from its policy projections in December.
|
|
After this week's dovish statement, they will surely put back that date.
|
|
On Thursday, Mr. Hu dismissed Mr. Wu as a typically dovish diplomat.
|
|
The more dovish outlook saw the yen strengthen against the weakened dollar.
|
|
Markets regarded the Fed's increase in interest rates as a dovish hike.
|
|
DID YOU BECOME MORE DOVISH AFTER YOUR TIME AT THE FINANCE MINISTRY?
|
|
Dovish policy comments by Chinese Premier Li Keqiang weighed on the currency.
|
|
However, the bank stuck with its dovish stance and global sentiment improved.
|
|
He said that change could be read either as dovish or hawkish.
|
|
"The street (financial markets) took the minutes as being dovish," Cieszynski said.
|
|
Also helping gold was dovish comments from Federal Reserve Chair Janet Yellen.
|
|
So, the ultimate "dovish" hike, to which sterling reacted quickly and decisively.
|
|
He argued that the Fed's dovish policies could create too much inflation.
|
|
Donald Trump is not a particularly "dovish" thinker on national security issues.
|
|
"Markets were geared up for a relatively dovish Fed and in the event got something even more dovish than they (were) expecting," Ray Attrill, head of foreign exchange strategy at National Australia Bank, wrote in a morning note.
|
|
"Despite the dovish Fed last week, the trade-weighted dollar continues grinding higher as investors retain concerns about global growth and other central banks retain or shift towards a more dovish bias," ING analysts said in a note.
|
|
"At the moment global central banks are leaning towards the dovish side and if BOJ is strongly dovish that could lead the yen to fall against the dollar and gold prices could go down," CMC Markets' Yang said.
|
|
"I think there is a bit of a sigh of relief because a dovish Fed official came out and was dovish," said Anna Rathbun, director of research for CBIZ Retirement Plan Services, said of Brainard's impact on U.S. stocks.
|
|
"The flip-side of the dovish Fed is a stronger euro - this is something the European Central Bank will take note of, that could also bring forward some dovish ECB decisions to control that," said Commerzbank strategist Rainer Guntermann.
|
|
The RBA's dovish tilt comes as growth in Australia's $1.3 trillion economy sputters.
|
|
The Fed's dovish signal will obviously boost gold prices and weaken the dollar.
|
|
And the way he's inspiring people is less with dovish talk of reconciliation
|
|
The action showed some early pricing of hopes for a more dovish Fed.
|
|
Some analysts interpreted the Fed's actions and language this week as mostly dovish.
|
|
The dollar moved lower, as the market viewed Powell's comments as more dovish.
|
|
Some are nationalist, some economic nationalist, some more dovish, and some defy categorization.
|
|
"The majority [of the ECB Governing Council] is still relatively dovish," Annenkov said.
|
|
But I mean when you parse the comments there's nothing dovish in there.
|
|
Hungary's central bank is considered one of the most dovish in emerging markets.
|
|
Hungary's ultra-dovish central bank has kept interest rates at a record low.
|
|
They did tweak their projections a little bit for both dovish and hawkish.
|
|
All of them are likely to take either a dovish or neutral stance.
|
|
In Seoul, he sees a dovish liberal leader who&aposs eager for rapprochement.
|
|
Powell's dovish comments increased the odds of the Fed cutting rates in July.
|
|
Dovish comments from a European Central Bank official weighed on the single currency.
|
|
While central banks globally are adopting a more dovish outlook, investors remain worried.
|
|
His dovish stance dragged the dollar lower and supported the yuan, traders said.
|
|
The yield rise has been capped, however, by dovish global central bank policy.
|
|
Clarida also said he expects the Fed's overall language to remain fairly dovish.
|
|
Relatively dovish comments from Governor Mark Carney during the week heightened such expectations.
|
|
"EM assets have bounced on the dovish ECB," said strategists at Morgan Stanley.
|
|
But if the central bank sounds dovish in its release at 2 p.m.
|
|
Wednesday's statement was a dovish turn from previous Federal Open Market Committee projections.
|
|
The more dovish outlook was largely due to domestic factors, according to Westpac.
|
|
"The Fed delivered a surprisingly dovish message," said MUFG analysts in a note.
|
|
For others, recent dovish comments from ECB hawks point to a July move.
|
|
The Fed's dovish posture and today's economic data is a positive for stocks.
|
|
Many analysts instead expect a dovish statement to accompany a no-change decision.
|
|
Dovish comments from New York Fed's Williams also contributed to lower Treasury yields.
|
|
A dovish BOJ is most likely to keep any yen appreciation in check.
|
|
A dovish outlook for the next year from 22015 economists was also unanimous.
|
|
Draghi seemed to walk the middle path by being neither hawkish nor dovish.
|
|
The U.S. dollar index hit an eight-day low on the dovish comments.
|
|
" "I would classify it as right down the middle, neither hawkish or dovish.
|
|
The Federal Reserve has already done a sudden reversal from hawkish to dovish.
|
|
But for some reason Sanders demurred, instead focusing on his own dovish stances.
|
|
Central banks around the world have taken a more dovish approach, boosting markets.
|
|
Personnel shuffling at the top also strengthened the hand of dovish rate-setters.
|
|
The rates outlook was significantly more dovish than financial markets had bargained for.
|
|
Unlike in July, we think Chair Powell will strike a more dovish tone.
|
|
Goldman's economists have maintained that the market misinterpreted Powell's remarks as being dovish.
|
|
Analysts expect Lagarde to continue current ECB chief Mario Draghi's dovish policy stance.
|
|
Some dovishness has been priced in so it's difficult to be more dovish.
|
|
" JUSTIN LEDERER, TREASURY ANALYST, CANTOR FITZGERALD, NEW YORK "The statement was definitely dovish.
|
|
The Fed will have to walk a fine line between being so dovish it spooks the market, but the U.S. economy is still strong and the labor market is extremely strong, making it difficult for the Fed to sound too dovish.
|
|
"The April ECB meeting had a dovish ring to it which, put in the context of the March dovish surprise and stabilisation of economic indicators, caught rates markets off guard," said Antoine Bouvet, a rates strategist at Mizuho in London.
|
|
"The April ECB meeting had a dovish ring to it which, put in the context of the March dovish surprise and stabilization of economic indicators, caught rates markets off guard," said Antoine Bouvet, a rates strategist at Mizuho in London.
|
|
What's been interesting to me is you've had a parade of Fed officials some of whom are extremely dovish, and they've been a whole lot less pessimistic and a lot less dovish than (Fed Chair) Janet Yellen, since the last meeting.
|
|
Expectations of a dovish Federal Reserve have revived the 93-year yield this week.
|
|
My point is, I think this (not tapering) will be a significant dovish surprise.
|
|
Meanwhile, the dollar softened on Friday following dovish remarks from the U.S. Federal Reserve.
|
|
Credibility is key and markets could get nervous if Bank Negara sounds too dovish.
|
|
"The general perception is that there's no one more dovish than Yellen," he said.
|
|
Investors see a more dovish Fed as less of an impediment to economic growth.
|
|
The National Bank of Hungary is one of Central Europe's most dovish central banks.
|
|
"It was not dovish enough for the market," he said about the Fed's statement.
|
|
"The relative dovish tone of the central banks is supporting risk assets," he said.
|
|
But there is a risk that they will send some sort of dovish signal.
|
|
Below-target inflation has caused some more dovish Fed policymakers to want to wait.
|
|
Investors also welcomed a dovish Fed amid concerns over a dip in U.S. inflation.
|
|
I think the tone might be a little more dovish, especially on the Euro.
|
|
So you can say that the bank is tapering in a more dovish way.
|
|
The tone of the RBI policy was dovish and highlights the concerns on growth.
|
|
They can be less dovish, they can be more balanced if they move 50.
|
|
Both Fed speakers have historically had a dovish position, favoring lower rates for longer.
|
|
But her record also includes some of the most dovish actions of any candidate.
|
|
The strikingly dovish tone of the FOMC's post-meeting statement sent stocks surging higher.
|
|
Mexico's central bank was expected to maintain a dovish stance to add monetary stimulus.
|
|
Sure, but look at those dovish central banks and the "green shoots" in China.
|
|
Hungary's central bank is regarded as one of the most dovish in the world.
|
|
Expectations of a dovish shift in the rate cycle have boosted emerging market currencies.
|
|
U.S. Treasury yields were lower across the board in light of Williams' dovish views.
|
|
He is viewed as one of the more dovish members of the central bank.
|
|
But ECB policymakers are striking a subtly more dovish tone in their public pronouncements.
|
|
We'll see during the press conference whether the tone is a little more dovish.
|
|
Maybe it's slightly dovish if you really have to tease something out of it.
|
|
"This is already almost as dovish as it gets," ING economist Carsten Brzeski said.
|
|
The dollar was nursing losses against its peers after Brainard reiterated her dovish views.
|
|
"There is some risk that we could see a more dovish outlook," he said.
|
|
Consequently, Taylor or Warsh might actually be quite dovish, at least for a time.
|
|
Furthermore, investors should not jump to conclusions as to who is dovish or hawkish.
|
|
Trump isn't going to be disciplined by someone whose views are dovish or establishmentarian.
|
|
Some have speculated that the removal of the language would be a dovish signal.
|
|
That probably encourages central banks to remain dovish, weighing on yields and boosting gold.
|
|
Bolton's hawkish tendencies could seem out of line with Trump's more dovish campaign rhetoric.
|
|
A few central banks already appear to be shifting to a less dovish stance.
|
|
He pointed to the dovish Fed and little sign of bubbles in the economy.
|
|
The more dovish tilt came without any changes in expectations for U.S. economic growth.
|
|
Investors cheered Yellen's dovish tone, alleviating some concerns over the recent dip in inflation.
|
|
Meanwhile, the Federal Reserve's more dovish stance also helped to boost investor risk appetite.
|
|
However, her comments on future interest rate hikes were perceived as dovish by markets.
|
|
Recent comments by Fed officials have also been read as dovish by some analysts.
|
|
Gold moved higher after dovish comments in Federal Reserve meeting minutes released last week.
|
|
The Fed's sharp pivot, from very hawkish to very dovish, successfully broke the cycle.
|
|
Of course, in the Trump era some Republicans have conveniently become dovish on inflation.
|
|
"A 25 basis points rate cut and dovish guidance would be justified," Ramos added.
|
|
" Peter Cardillo, chief market economist, Spartan Capital Securities, New York "It's very dovish, obviously.
|
|
Expectations of a dovish approach to monetary policy globally, have driven inflows into gold.
|
|
I would describe this as indicating an incrementally more dovish posture from the Fed.
|
|
"This means she will continue (current ECB President Mario) Draghi's dovish stance," he added.
|
|
Furthermore, investors are confident that Lagarde will remain firmly within Draghi's dovish tradition, aiding continuity.
|
|
He rated the last Powell speech as neutral, though the market heard it as dovish.
|
|
The Hungarian central bank is seen as one of the most dovish in emerging markets.
|
|
Finding dovish Republicans to lead the central bank might be a headache for the president.
|
|
In the build-up to the June meeting, many Fed officials had made dovish comments.
|
|
The Australian dollar has been dogged recently by the Reserve Bank of Australia's dovish stance.
|
|
Stateside, the U.S. Federal recently signaled a dovish outlook in its most recent policy meeting.
|
|
Several emerging market currencies have also felt pressure after dovish turns from their central banks.
|
|
Since Wednesday, bullion has risen $70 after Fed's dovish comments and increased Middle East tensions.
|
|
The dollar's gains come despite the Federal Reserve's dovish shift on interest rates last week.
|
|
The central bank's dovish policy has been weighing on the Hungarian currency in recent weeks.
|
|
On Tuesday, the Hungarian central bank maintained its dovish stance at its rate-setting meeting.
|
|
Dovish comments from ECB President Mario Draghi did little to support the euro on Wednesday.
|
|
Getting two governors who are leaning to the dovish side might help sway the vote.
|
|
A dovish Fed, largely upbeat earnings and hopes of a resolution to the Sino-U.
|
|
The timing was slightly on the dovish side in relation to recent central bank remarks.
|
|
The Bank of Canada has been one of the central banks to turn more dovish.
|
|
Yet the cocktail of growth woes and dovish central banks proved a boon for bonds.
|
|
The data could prompt a less dovish stance from the U.S. Federal Reserve, Melek added.
|
|
But that was not enough to lift the dollar index after the dovish Fed statement.
|
|
Fed Chair Janet Yellen's uber-dovish speech Tuesday is already being felt in international markets.
|
|
Some investors suspect the central bank may sound more dovish given the uncertain global backdrop.
|
|
The U.S. dollar rose as other currencies were weakened by dovish signals from central banks.
|
|
From an asset class perspective, the Fed's dovish sentiment should help stabilize the U.S. dollar.
|
|
Money has started trickling back into equity funds this week thanks to Powell's dovish comments.
|
|
Commodities stocks got a solid boost from Yellen's dovish stance which sent the dollar lower.
|
|
The comments were Bostic's first since the Fed made an unexpectedly dovish shift on Wednesday.
|
|
While we do have a dovish Fed, that factor is now priced into the market.
|
|
So what can traders buy if the market rallies again off the Fed's dovish posture?
|
|
Equity investors, meanwhile, might think that a more dovish Fed would be good for stocks.
|
|
Dovish comments from ECB President Mario Draghi on Wednesday did little to support the euro.
|
|
Central banks in Japan and the euro zone, meanwhile, also stuck with their dovish message.
|
|
S. trade deal and dovish shifts in major central banks' monetary policies, propelled regional shares.
|
|
The dovish approach is expected to spur more foreign flows to emerging markets including India.
|
|
The euro also fell after European Central Bank meeting minutes were interpreted as slightly dovish.
|
|
A generally dovish statement from the central bank was greeted with a cascade of selling.
|
|
The RBI is expected to maintain status quo for now and maintain a dovish stance.
|
|
I have John Bolton and other people that are a little more dovish than him.
|
|
But the Fed has come under pressure from President Trump to be more dovish still.
|
|
The yen fell broadly after the Bank of Japan stuck to its dovish policy stance.
|
|
At year's end, some of Johnson's more dovish advisers again pleaded for adjustments in strategy.
|
|
However, there are two changes which were interpreted as an adoption of dovish monetary stance.
|
|
That doesn't mean Fed chair Jerome Powell is expected to sound particularly dovish on Wednesday.
|
|
The trade optimism and a dovish Federal Reserve has spurred a strong run in stocks.
|
|
A market that had been pricing in a dovish Fed is now doing some adjusting.
|
|
That unexpectedly dovish signal had financial markets quickly pricing in a rate cut next year.
|
|
That dovish tone has investors in a better mood so far in the first quarter.
|
|
Trump keeps criticizing Powell from a dovish viewpoint, but his appointments don't reflect those views.
|
|
"There's still plenty of time, I no longer have a dovish view on U.S. monetary policy but I would say there is still a very good dovish case on Europe," he finished, with a reminder that the ECB is ultimately an inflation targeting institution.
|
|
"Overall, the ECB's comments were less dovish than expected," one Budapest-based fixed income trader said.
|
|
Draghi is certain to maintain a dovish tone and leave open the possibility of more stimulus.
|
|
I thought the language would be even more dovish, and I think that's what caused it.
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Fears about the global economic slowdown are rising even as central banks adopt increasingly dovish policies.
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The Federal Reserve has recently turned dovish, partly in response to Mr Trump's hawkishness on trade.
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"We expect the central bank to really remain on the dovish side," added Crédit Agricole's Tresca.
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The stronger-than-expected U.S. jobs and factory data boosted expectations for a less dovish Fed.
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Lael Brainard shared her dovish views on monetary policy, the state of the economy and inflation.
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The Federal Reserve's dovish shift at the start of 2019 would normally have hurt the dollar.
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Gold saw some support from Chinese central bank buying and dovish views from major central banks.
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A reserved former banker, Kishida, 60, hails from a more dovish faction of the conservative LDP.
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Many central banks have taken a dovish stance, pivoting away from moves towards interest rate increases.
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GREECE LEADS PERIPHERAL CHARGE Peripheral government bond yields continued to benefit from the ECB's dovish signals.
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Not even just the committee, he's the most dovish member of the whole Federal Reserve council.
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Those comments led some market participants to expect a less dovish tilt from Powell on Friday.
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Most other major central banks have also turned dovish in recent months, keeping their currencies subdued.
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The euro licked its wounds after contrastingly dovish comments from European Central Bank President Mario Draghi.
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The Fed's dovish stance on monetary policy eased concerns that tightening financial conditions could crimp growth.
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That comes with any new data that show Trump taking a more dovish stance towards China.
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Recent dovish comments from Fed officials and weak economic data have bolstered expectations for rate cuts.
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Investors expect the U.S. Federal Reserve will reinforce its dovish approach toward further interest rate hikes.
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Last week, European Central Bank chief Mario Draghi disappointed investors with less-dovish-than-expected remarks.
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"Yellen's comments were clearly dovish," Soeren Moerch, head of fixed income trading at Danske Markets, said.
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The Fed has now pivoted from neutral to a dovish policy, or a rate-cutting stance.
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Market participants viewed the overall tone from the U.S. central bank as more dovish than expected.
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The markets were tilted to an extremely dovish outcome and Powell struggled to deliver that outcome.
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The Fed's shift from hawkish to dovish has caused already-muted volatility to vanish even further.
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The jumped following the statement as it sounded less dovish than the markets had wagered on.
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Fed Chairman Jerome Powell affirmed a dovish stance when he briefed the media after the meeting.
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So I think if you put everything together on an overall basis it was somewhat dovish.
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The Fed and ECB's dovish pivot in recent months could offer some relief for the currency.
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The strong data could prompt a less dovish stance from the U.S. Federal Reserve, Melek added.
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This despite the fact that the statement itself was seen as skewing — if anything — mildly dovish.
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The international backdrop was moderately supportive, with dovish comments expected from the Federal Reserve, dealers said.
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The central bank's stance has contrasted with dovish guidance last week from the U.S. Federal Reserve.
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That was despite the Fed issuing a fairly dovish sounding policy statement after its March meeting.
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Not today so much but do we start seeing a much more dovish narrative going forward?
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The Reserve Bank of New Zealand's comments on policy were regarded as dovish by the market.
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Dovish comments from a Federal Reserve official helped curb the common currency's losses against the dollar.
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Fixed income investors continue to digest the dovish comments from Fed Chair Janet Yellen last week.
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Investors have seen Yellen's dovish tone as a green light for riskier trades on Wall Street.
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The dollar's recent gains come despite the Federal Reserve's dovish shift on interest rates last week.
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The euro was also hurt after European Central Bank meeting minutes were interpreted as slightly dovish.
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There can be little doubt that Obama won in 21625 partly due to his dovish pronouncements.
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The trick will be to sound dovish enough to signal readiness to act but without committing.
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He doesn't believe the Fed will cut rates this month, or be as dovish as Draghi.
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"The hike by the Fed is fully priced but the language will be dovish," Vamvakidis said.
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Wall Street rallied on the Fed's dovish turn after months of fretting over future rate hikes.
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In the reverse, Moore notes a dovish Fed may alter the people's confidence in the committee.
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If investors fear the Fed is being too dovish, long-term interest rates would rise sharply.
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The U.S. dollar recouped the ground lost in the previous session after the dovish Fed's statement.
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The European Central Bank also holds a meeting next week, with investors expecting a dovish statement.
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"It is a justifiably dovish statement," said Ben Jarman, a senior economist at JPMorgan in Sydney.
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Haggard's ambivalence was emblematic of how many people felt at the time: sometimes hawkish, sometimes dovish.
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Most have bounced back smartly this year as a decisively dovish Fed has provided the impetus.
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Bullard's remarks on Tuesday struck traders as less dovish than what he said earlier this month.
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Hungary's national bank is the most dovish in the region with its base rate at 0.9%.
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Armstrong added that in combination with more dovish monetary policy, fiscal stimulus is on the way.
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Indian bonds and stocks rallied on Wednesday on expectations of a dovish shift by the RBI.
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In Asia, equities rose for the fifth straight session following the Fed's dovish comments to Congress.
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He expects a more dovish central bank to emerge as economic growth and inflation remain modest.
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The dovish sentiment from the Fed at the same time put the S&P 500 financials .
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A host of other central banks across the world have also embarked on dovish policy shifts.
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If you look under the hood" at Ms. Yellen's commentary last month, "it wasn't that dovish.
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The dovish talk combined with low inflation expectations has caused the market to reprice its expectations.
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That and Powell's other dovish comments helped the stock market rally and pushed bond yields lower.
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First, the markets saw firsthand that Chairman Powell is not as dovish as Chair Yellen was.
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The Fed retained its forecast for three rate hikes this year, more dovish than some expected.
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The euro rose 21% to $22 after the Fed's dovish signals undermined the dollar's yield attraction.
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The U.S. has over the years pursued hawkish and dovish policies, and neither has really succeeded.
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Investors anticipate the U.S. central bank will reinforce its dovish approach toward further interest rate hikes.
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Powell was not as "dovish," or leaning against more rate hikes, as some investors may have wanted, but Panigirtzoglou thinks whether the Fed gets even more dovish next year will be the key factor in determining whether stocks get a boost in the beginning of 2019.
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"But for the rally to really continue, I think the most important thing we're watching out for is whether the global economy starts responding to a more dovish Fed, a more dovish ECB, to more stimulus from China," Hui told reporters in Hong Kong on Thursday.
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"The FOMC speakers that we've heard since the FOMC meeting last week have generally sought to offset the dovish interpretation and the dovish language in the statement," Gordon said, "and very much are keeping April and June on the table as potential times for a hike."
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"We expect little dovish bias from Banxico due to developments in the core inflation and inflation expectations complex," wrote Sacha Tihanyi, deputy head of emerging markets strategy at TD. "Any dovish messaging will come via the growth outlook, however these concerns will not dominate inflation expectations and core price dynamics, which currently do not imply rates cuts at this point in time," he said, adding that an unexpectedly dovish statement may push fixed income inflows and bolster the currency.
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Other Fed officials, like St. Louis Fed President James Bullard, also made dovish comments about cutting rates.
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" KATHY JONES, FIXED INCOME STRATEGIST, CHARLES SCHWAB, NEW YORK: "I thought it was on the dovish side.
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The surge followed dovish comments from Federal Reserve Chairman Jerome Powell and a strong December jobs report.
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On Monday, Powell's colleague Raphael Bostic, the Atlanta Fed President, added to the central bank's dovish tone.
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Trade hopes and a dovish Fed have lifted the S&P 500 to its highest since Oct.
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The Fed's "dovish lite" rate hike today is a key moment in chairman Jerome Powell's balancing act.
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Sluggish growth globally and a dovish tone from central banks has only accelerated fund inflows into bonds.
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Talk of a dovish turn helped Wall Street steady and the Dow ended Tuesday up 0.35 percent.
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A weak dollar and a more dovish Federal Reserve has also aided the investment case for bullion.
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" TIM GHRISKEY, CHIEF INVESTMENT STRATEGIST, INVERNESS COUNSEL, NEW YORK "There's some disappointment that they weren't more dovish.
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Traders now believe the already-dovish Federal Reserve won't be raising interest rates at all this year.
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The liberal, dovish Mr Moon has gone out of his way to court conservative and hawkish voters.
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But he suggests the current environment driven by a dovish Federal Reserve could ease any potential trouble.
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Given the weakness in the data, the Federal Reserve could turn more dovish in its next meetings.
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So for Yellen to introduce a clearly dovish signal ahead of that is bound to create confusion.
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A weaker than expected number gives the Fed more room to stay accommodative or dovish for longer.
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And economic conditions in Asia have turned for the better given an increasingly dovish U.S. Federal Reserve.
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A more-dovish-than-expected central bank meeting last week continued to weigh on the single currency.
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What's happening: The dovish shift from the Fed and global central banks, and de-escalating China-U.
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Analysts also said dovish central banks and negative debt yields around the globe were further supporting bullion.
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A more dovish-sounding U.S. Federal Reserve has also prompted global investors to plow into riskier assets.
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The meeting comes after the European Central Bank on Tuesday turned more dovish than markets had expected.
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But as the Fed adopted a more dovish stance on fiscal policy, the market heated up again.
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Even then, markets seemed to welcome the central bank's decision to raise rates and its dovish stance.
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With the Federal Reserve becoming more dovish, Clissold believes fundamentals point to a healthier market this year.
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But now we have tariffs that would hit the economy while the Fed wasn't dovish last week.
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This comes after a stellar rally on Wednesday following dovish comments by Federal Reserve Chair Janet Yellen.
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Second, dovish signals from the Federal Reserve and economic worries have led bond yields to slide powerfully.
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That extended falls the previous day on comments by ECB officials that were seen as relatively dovish.
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In a bright spot, the Federal Reserve Chairman Jerome Powell stuck to his dovish message on Sunday.
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Wall Street shares shook off a sluggish start and moved higher overnight thanks to Williams' dovish comments.
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Bond prices are on the rise this week after the Federal Reserve again sounded a dovish call.
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"Concern around Brexit and the ECB's increasingly dovish stance is weighing on euro and sterling," said Schamotta.
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Investors viewed the central bank's release and comments from Chair Jerome Powell as more dovish than expected.
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Doubts grew, however, that the BOJ would take a more dovish stance at its meeting on Sept.
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It maintained a dovish stance by projecting two more rate hikes for the rest of the year.
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Markets also expect a dovish policy stance from the European Central Bank when it meets on Thursday.
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The likelihood of a 13-basis-point cut soared last week after dovish comments by Fed policymakers.
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So, a good part of the rally was predicated on a dovish Fed, which we now have.
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"The Fed has become more dovish than expected and we're seeing the dollar sell-off, " said Gordon.
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But following the recent market volatility, expectations for a dovish Fed appears to have grown, perhaps excessively.
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"If Yellen is out of the race, that takes out some of the dovish nature," Lawrence said.
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The Copom decision will not give the real a lift, after a less dovish expected FOMC meeting.
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Therefore we see risk that EUR bulls will be disappointed by a dovish tone from Draghi today.
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This has led some market investors to believe that Trump will opt for a more dovish nominee.
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The likelihood of a 13 basis-point cut soared last week after dovish comments by Fed policymakers.
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This dovish stance shows the central bank is doubtful about economic recovery in the 19-member region.
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But convincing the Komeito party, the dovish junior partner in Abe's coalition, to agree would be challenging.
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If the minutes indicate that the neutral rate is close, the market will see that as dovish.
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Interest rate-sensitive banking stocks fell 0.3 percent on Thursday, after the Fed affirmed its dovish stance.
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The central bank took a dovish turn this week and the government cut its 2019 growth forecasts.
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"It is very uncertain, when most of the central banks globally have become more dovish," Warjiyo said.
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The dovish tone surprised market players, who were hoping to see the first rate hike next June.
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Even after last month's unexpectedly dovish tone from the central bank, inflation and inflation expectations remain low.
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The dovish Fed bets have sent the U.S. dollar spinning lower against a basket of major currencies.
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In the release after December's meeting, the dots indicated a relatively dovish path for rates moving forward.
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The fact that the Fed threw in the towel on a 2019 rate hike was particularly dovish.
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Democrats remain more dovish, with only 16% viewing China as an "adversary," compared to 20203% of Republicans.
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One is the market interpreted the Fed as being a little more dovish than people had thought.
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"With the dovish Central Bank of Russia, the rouble's carry trade attractiveness continues to vanish," Miklashevsky said.
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"Anything he says that doesn't sound dovish, the market will take it as hawkish," Amundi's Upadhyaya said.
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The Fed did make a slightly more declarative statement about low inflation, which was taken as dovish.
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That forced the bank to hedge its bets with what some investors described as "dovish policy tightening".
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Powell denounced any idea the Fed was caving to political pressure by taking a more dovish approach.
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The fact that they've announced balance sheet runoff ending I think is certainly quite dovish as well.
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"All things considered, it's slightly more dovish than one might have expected," ING economist James Smith said.
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"Although it's likely the Fed minutes will continue to show a dovish/neutral stand and that should cap further dollar strength, the other central banks are certainly in the same mindset if not even more dovish," Peter Hug, global trading director at Kitco Metals, said in a note.
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It's a hair dovish just because of the wording they used in acknowledging the weakness in global markets.
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The language in the post-meeting statement was not entirely dovish, or easy on its outlook for rates.
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The U.S. currency rallied after Yellen's speech but soon fell as investors digested some of its dovish details.
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Do they lower the dot projection from three to two or is it even more dovish than that?
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Considering the much improved state of the economy, the Fed statement was very much on the dovish side.
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Brainard did not break with her dovish view, however, cautioning against a rush to raise rates too soon.
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The statement struck a decidedly dovish tone, and only one FOMC member, Esther George of Kansas City, dissented.
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The statement struck a decidedly dovish tone, and only one FOMC member, Esther George of Kansas City, dissented.
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The U.S. Federal Reserve and European Central Bank maintained their dovish policy stance citing slowdown in global growth.
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The National Bank of Hungary, Central Europe's most dovish central bank, started buying mortgage bonds earlier this year.
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The longtime front-runner, Moon Jae-in, a dovish progressive, promoted the sunshine policy in a former administration.
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A surprise move considering that disappointing data usually increases the chances of a central bank being more dovish.
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While the Fed's minutes tempered some dovish expectations, markets still broadly expect further rate cuts as growth slows.
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Much now depends on how dovish Fed Chair Jerome Powell chooses to be in his speech on Friday.
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Hungary meanwhile is expected to put off any rate-tightening plans in response to the ECB's dovish pivot.
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That bloc includes Boston Fed President Eric Rosengren, long a member of the dovish side of the table.
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The European Central Bank releases minutes of its last meeting on Thursday, and should strike a dovish tone.
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The central bank pivoted and adopted a more dovish stance after its hike in December sent markets reeling.
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Since Wednesday, bullion has risen as much as $70 after Fed's dovish comments and increased Middle East tensions.
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Sturzenegger's comments were widely interpreted as dovish and sent the peso currency tumbling amid expectations of a cut.
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The odds on Wall Street fell this week following dovish statements from Fed Governor Lael Brainard on Monday.
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Most central banks in the region have remained somewhat dovish, despite a pickup in growth, as inflation moderates.
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Central banks, especially in emerging markets, have been in easing mode, taking their cue from a dovish Fed.
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In fact, KKR said the Fed is on a long-term dovish cycle unlikely to change for years.
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"Traders are buying into the fact that they are expecting a very dovish U.S. Fed announcement," Haberkorn said.
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He's much more dovish on China and far more concerned about climate change than Prime Minister Scott Morrison.
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What other language it uses could determine how dovish or hawkish the market will believe it to be.
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Westpac Bank Senior Markets Strategist Imre Speizer said the statement was dovish, with a very strong easing bias.
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And as the year has progressed, central banks all over the world have moved towards those dovish expectations.
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Since the sixties, there's been a dovish tradition in the Democratic Party — even if it isn't always heeded.
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Investors will scrutinize the minutes from the Federal Open Market Committee (FOMC) after a dovish statement in January.
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In this sense, Clinton is far more dovish and far less likely to lead the US into conflict.
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As far as the general tenor, it's hard to see it more dovish than it was on Jan.
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The forecasters are not identified by name, though Evans has consistently been among the Fed's most dovish policymakers.
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Fed officials of late — particularly Chair Janet Yellen — have been making mostly dovish comments about future rate expectations.
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That was despite Mr Abe's appointment of two dovish new members to the board in the past year.
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The NBH was regarded as one of the most dovish central banks in the world at that time.
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The new dovish stance of U.S. monetary policy had not weakened the dollar much, notably against the euro.
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The minutes from the January Fed meeting will be closely watched following a dovish statement at that review.
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Williams "is sounding very dovish," said Paresh Upadhyaya, director of currency strategy at Amundi Pioneer Investments in Boston.
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Emerging market currencies, which typically gain on dovish Fed comments, rose to their highest levels since March 21.
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"We believe last week's dovish Fed outcome opened up the path for" multinationals to make a comeback vs.
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I've heard this several times since Janet Yellen's uber-dovish speech to the Economics Club of New York.
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Sterling dropped lower on the news with the 22.2-22.3 split seen as fairly dovish by the market.
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The European Central Bank, Reserve Bank of Australia and the Bank of Japan have all turned dovish since.
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Trade hopes and a dovish Fed have helped push the S&P 3.21 to its highest since Oct.
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After the more dovish Federal Reserve Governor Daniel Tarullo spoke, that had fallen to a 20 percent chance.
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This follows a bounce in emerging market assets following relatively dovish talk by Federal Reserve head Janet Yellen.
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On investors' radar is also an ECB meeting, where policymakers are expected to take a less dovish tone.
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Trade hopes and a dovish Fed have helped push the S&P 13 to its highest since Oct.
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While dovish central banks are good news for emerging markets, their own economies show few signs of recovery.
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Some of the more dovish Fed officials would like to see rising inflation before they hike interest rates.
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There was a mildly dovish tilt to 2019, with one fewer member expecting a third hike in 2019.
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On the surface, this claim seems illogical, as the Fed furnished a dovish rather than a hawkish decision.
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That extended falls from the previous day on comments by ECB officials that were seen as relatively dovish.
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"The Riksbank was a little more dovish than expected, on the margin," Knut Hallberg, economist at Swedbank, said.
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Most of his colleagues, including the previously unimpeachably dovish Lael Brainard, also have sounded ready to act again.
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And on immigration, Mormon voters much more dovish than the immigration hardliners currently shaping the debate in Washington.
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Since Wednesday, bullion has risen as much as $70 after Fed's dovish comments and increased Middle East tensions.
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However, as the dust settled bond investors took comfort from the underlying dovish tone from the central bank.
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"They're clearly turning toward a more dovish direction," said Roberto Perli, an economist at Cornerstone Macro in Washington.
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Following other major central banks, the BOE "is turning more dovish," said Lee Hardman, currency analyst at MUFG.
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Regional assets were set to gain for the week, supported after dovish indications from the U.S. Federal Reserve.
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Hungary's central bank is the most dovish in the region, and has kept rates at 0.9% since 2016.
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The central bank struck a more dovish tone than investors had expected after last week's strong employment data.
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That dovish sentiment was underscored yet again in minutes of the Fed's January meeting also released on Wednesday.
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The Fed, in fact, has already laid down a dovish framework for what Powell could mention as risks.
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Trade hopes and a dovish Fed have helped push the S&P 500 to its highest since Oct.
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But Stav Shaffir, a lawmaker with the dovish Democratic Union, questioned the timing and motives of the killing.
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Concerns that low U.S. inflation could lead to a more dovish Federal Reserve have also hurt the greenback.
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"As seen in the US treasury market response to a still dovish Janet Yellen and the rise in rates after her speech, the same thing is happening in longer term bonds in Europe after the very dovish commentary from Mario Draghi," said Peter Boockvar, chief market analyst at The Lindsey Group.
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Sentiment going into the European Central Bank's meeting Thursday is for Mario Draghi to reaffirm his current dovish stance.
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The Fed's dovish stance weighed on the U.S. dollar, which catapulted commodity prices to their highest levels this year.
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" On future Trump appointments to the Fed: "My guess is he's going to put someone who is very dovish.
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Minutes from the latest Fed meeting suggest the central bank may not be as dovish as markets believe, however.
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Central banks, looking to rev up growth and fight low inflation rates, have turned increasingly dovish in recent months.
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She is expected to continue the dovish stance of current ECB president Draghi and introduce more monetary easing measures.
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Dovish Fed member Chicago Fed President Charles Evans said Thursday that three rate hikes look reasonable for this year.
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The dollar slipped following dovish comments from Fed Chairman Jerome Powell, making gold cheaper for holders of other currencies.
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Economists expect them to drop from the median of three to two, and that would be viewed as dovish.
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For all of Trump's tough talk about terrorism, Mexico, and China, he's surprisingly dovish on another American enemy: Russia.
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Dovish fed is a fuel factor to the market, or we will see the volatility continue running this week.
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Brainard and Dudley are viewed as part of the dovish core of the Fed, along with Yellen and Fischer.
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Stovall said stocks would respond positively if Powell were to moderate his rate hiking tone and sound more dovish.
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"To the downside, any dovish interpretation could prompt a pullback towards the 92.50 support area once again," he added.
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"If there's a silver lining to the policy uncertainty is it probably keeps central banks more dovish," Zidle said.
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The language in the post-meeting statement was also not entirely dovish, or easy on its outlook for rates.
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Michael Hsueh, an analyst at Deutsche, noted the decisively dovish shift in central bank expectations was bullish for gold.
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On the bourse, stocks were up after Wednesday's dovish Fed message as appetite for risk saw equities surge globally.
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The dovish monetary policy stance has prompted investors to price in possible central bank rate cuts across the region.
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"The market will most likely drift higher on the bullish GDP, earnings backdrop and the dovish Fed," Hirsch said.
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The problem they run into is if they keep harping on low inflation it's going to sound really dovish.
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The prospect of a "dovish rate hike" is keeping the dollar - this year's best performing major currency - in check.
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It has grown mostly because respondents believe Yellen has become more dovish, while Fischer has remained about the same.
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"One of the reasons we are trading around $1.983,300 levels is the dovish stance of central banks," he said.
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"One of the reasons we are trading around $0.33,300 levels is the dovish stance of central banks," he said.
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Everyone felt like the June meeting was so dovish that the July meeting is a lock and it's not.
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On the margins, a more dovish Fed and neutral ECB, BOJ and BoE is a drag on the dollar.
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Stocks jumped on Friday following a stronger-than-expected employment report and dovish sentiment from Fed Chair Jay Powell.
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Hopes of a U.S.-China trade deal and a dovish Federal Reserve has spurred a strong run in stocks.
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"This lowers the expectation for Jay Powell on Friday, which could make a dovish tilt more explosive," noted Brenner.
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The Fed's statement was dovish and indicates that the Fed is prioritizing labor-market data over other growth measures.
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Rate cut hopes, fuelled by Draghi's dovish speech, led the U.S. treasury yield to the lowest since September 2017.
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Central banks across the globe have turned increasingly dovish in 2019, raising expectations that policymakers would ease monetary conditions.
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The dovish tone was enough to see the euro fade back to $1.2306, having shed 13 percent on Thursday.
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This will only be accentuated if the new president continues to vent his grievances at a dovish Federal Reserve.
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On the global front, the European Central Bank issued a more dovish policy statement than the market was expecting.
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Analysts expect Lagarde to continue with Draghi's dovish policy stance after his term expires at the end of October.
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She is expected to continue the dovish stance of current ECB President Draghi and introduce more monetary easing measures.
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Hopes of central banks turning dovish in the wake of a global slowdown have supported risky, emerging market assets.
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Generally dovish comments from European Central Bank chief Mario Draghi on the inflation outlook helped support regional bond markets.
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We therefore think the onus will be on Fed Chair Powell to effectively communicate the Fed's dovish forward guidance.
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"Financial conditions have eased in recent weeks, stemming from a significantly more dovish communication by the Fed," Bovino said.
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Rate cut hopes, fueled by Draghi's dovish speech, led the U.S. treasury yield to the lowest since September 2017.
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In other words, are you going to see a dovish FED or its gonna be a more hawkish hold.
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Central banks in most major emerging market economies from Asia to Africa and Latin America have also turned dovish.
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Elsewhere, the euro hit the day's lows after ECB President Mario Draghi struck a dovish tone in his speech.
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Commerzbank analysts attributed this to reduced expectations for rate rises, prompted by dovish comments from European Central Bank policymakers.
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U.S. Treasury yields fell and the yield curve flattened as dovish Fed bank policy supported demand for government debt.
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Yields retreated after the Fed sent a dovish message that it would likely pause in its rate hiking cycle.
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Simply put, this is the biggest and longest dovish deviation from historical norms I have seen in my career.
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Ultimately what that means is that the Federal Reserve will need to intervene, and they're sounding dovish right now.
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European stocks were buoyed on Thursday by dovish remarks from the ECB's president, which hinted at more monetary easing.
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In the same vein, Ryan Sweet, economist at Moody's Analytics, thinks that Wednesday's statement wasn't dovish about financial markets.
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Next up is New York Fed president Bill Dudley, a dovish and influential policymaker, who speaks later on Friday.
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Wall Street shares shook off a sluggish start and moved higher overnight thanks to the dovish comments by Williams.
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Meanwhile, Tarullo is a voting member of the central bank's policymaking panel and has been considered to be dovish.
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The dollar's weakness and expectations of a dovish shift in the rate cycle have boosted many emerging market currencies.
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That has ruffled markets since the Fed just issued a fairly dovish sounding policy statement after its March meeting.
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Her more dovish successor, Moon Jae-in, campaigned on a promise to put the issue to the country's Parliament.
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"You had this enormous dovish surprise and that helped to clobber the dollar for maybe a day," said Schamotta.
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Mixed economic indicators mean global central banks are likely to maintain their dovish outlook, despite some promising recent data.
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Forecasts for dovish moves by both central banks have kept euro/dollar stuck in a narrow range for weeks.
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"Markets have been pricing in a little bit too dovish an outlook," said Accendo Markets' research analyst Augustin Eden.
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At the dovish end of the scale, BNP Paribas doesn't expect an interest rate hike this year or next.
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The Federal Reserve did not raise interest rates on Wednesday and was more dovish than strategists and economists expected.
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European stock markets firmed, while the dollar rose as rival currencies struggled following more dovish indications from central banks.
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The dovish tone from Fed Chair Janet Yellen has had an acute effect on the dollar-yen currency pair.
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But bets on further tightening from the central bank crumbled after the policy announcement, which was perceived as dovish.
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In return, Mr. Hu called Mr. Wu a dovish diplomat who did not know what was good for China.
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Powell is seen as more dovish than other contenders for the post, such as Stanford University economist John Taylor.
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As economic data worsens, central banks globally are expected to adopt increasingly dovish monetary policies to loosen financial conditions.
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"Markets were anticipating a more dovish rate hike, that is crystal clear," said Christoph Rieger, rates strategist at Commerzbank.
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More granularly, he said bonds would likely see further downside, as Warsh is seen as more hawkish than dovish.
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Many EM currencies have fallen sharply this year, IIF analysts noted, failing to benefit from the dovish central banks.
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Increasingly, investors are concerned that more dovish central bank policies globally will not be enough to stimulate international growth.
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However, trade hopes and a dovish Fed have helped push the S&P 500 to its highest since Oct.
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Rising economic risks have forced several central banks to turn dovish or push out their plans to tighten policy.
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Powell is viewed as similar to Yellen on monetary policy and more dovish than other members of the Fed.
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But any dovish comments from policymakers could cause sterling to drop, and that possibility checked appetite for the pound.
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"President Draghi clearly failed to live up to the market's dovish expectations yesterday," ING strategists said in a note.
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Currently a non-voting Fed member, Kashkari has historically been dovish when considering hikes to the federal funds rate.
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However, Guha said incoming committee members could take a more dovish policy view, setting up possible conflicts ahead. 5.
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Should the trade issues hammer the markets or put a dent in economic growth, the Fed could turn dovish.
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The dovish tone was enough to see the euro fade back to $1.2305, having shed 0.8 percent on Thursday.
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There was also a meeting of the European Central Bank and more dovish talk from ECB President Mario Draghi.
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Those remarks were viewed as dovish and sent U.S. stocks to their highest levels of the year so far.
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When the projections dropped, Fed watchers immediately speculated about just which member had turned super-dovish (or super pessimistic).
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This "dovish" end to its stimulus program led to a fall in the euro and a rise in stocks.
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Analysts said the most dovish outcomes had not materialised and the TLTRO programme was less generous than hoped for.
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"We expect the ECB to turn more dovish and push the euro lower," said CBA FX analyst Joseph Capurso.
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"A less dovish view than the markets anticipate could, instead, see renewed rand weakness," Bishop added in a note.
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But the brief inversion suggested that investors were anticipating slow growth for a long time, dovish Fed or not.
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Occupation is damaging to Israel, but even a dovish Israeli government proved unable to find agreement with the Palestinians.
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Powell is seen as more dovish than Warsh, who has criticized the Fed's bond-buying program in the past.
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Fed officials, led by vice chairman Richard Clarida, have struck a more cautious and dovish tone in recent weeks.
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These dovish words did little to pressure the euro, and instead some traders pointed towards his comments on inflation.
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The dovish tone of the ECB also saw a fall in euro zone borrowing costs, led by Southern Europe.
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Despite the Fed's dovish approach to raising rates, Wall Street will be watching commodities in the months to come.
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Friday's U.S. jobs report showed strong employment creation but subdued wages growth, backing the Fed's recent dovish policy tilt.
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Elsewhere in the currency market, the New Zealand dollar slid as its central bank staked out a dovish policy.
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Esparza said expectations that the Fed would take a dovish stance in a policy statement Wednesday hurt the dollar.
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It goes against what the market got last week out of Powell when he painted a more dovish picture.
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"In addition, the dovish ECB and U.S. Fed should support CEE currencies going forward," Raiffeisen said in a note.
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A dovish shift from the U.S. Federal Reserve, which has set aside rate hikes for now, has also helped.
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Two, the likelihood that Lagarde was unlikely to alter the ECB's current dovish policy stance, judging by recent comments.
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" JAMES MCCANN, SENIOR ECONOMIST, ABERDEEN STANDARD INVESTMENTS, BOSTON "The press statement was reassuringly dovish, but it wasn't hugely unexpected.
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Moon, the South Korean president, is a former human rights lawyer who has long advocated a dovish approach to Pyongyang.
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As for the Fed, Powell's most recent comments were seen as dovish when he pointed to concerns about international weakness.
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"A relatively dovish performance from Draghi was already priced in," said John Hardy, head of FX strategy at Saxo Bank.
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"The dollar surged given the hawkish 2017 rate guidance, as markets were actually expecting a dovish rate hike," Chang said.
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The euro had sagged on Wednesday after European Central Bank President Mario Draghi struck a dovish tone in his speech.
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Williams, while sounding more conciliatory especially on plans to shed assets, did not commit to a more dovish monetary policy.
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"It's yet another dovish take," said Win Thin, global head of currency strategy at Brown Brothers Harriman in New York.
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If the committee is extremely dovish, that shows large concerns about the growth outlook which could be negative for stocks.
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However, equities have rallied since June as the Fed and other global central banks signaled they were becoming more dovish.
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Forecasts were clustered on the lower side, with the most dovish estimate pointing to a paltry 0.05 percent monthly rate.
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Caron said the market reaction could be sharp, and yields could rise if the Fed sounds less dovish than expected.
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Against the backdrop of a bitter trade war, the Fed and other major central banks have turned more dovish recently.
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"We think that the Governing Council is likely to sound more dovish than these (projections) would warrant," Morgan Stanley said.
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The data show plenty to be dovish about: softening core inflation in the short-term, and falling household inflation-expectations.
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As a result, the market is selling off on worries the dovish monetary policy propping up the may go away.
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The loser wasn't the ultra-dovish ECB President Mario Draghi, but bank investors stuck in a much dreaded value trap.
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However, he did say the Fed's dovish approach could be the one thing that could potentially derail growth in 2016.
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Several economists expect Copom to insert more dovish language in its policy statement, paving the way for an eventual cut.
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Worries about European growth prompted the European Central Bank to maintain its dovish stance at its April meeting on Wednesday.
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|
Southern European debt, also sensitive to changes in ECB monetary policy, saw a strong rally, benefiting from Draghi's dovish line.
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"Markets have become very dovish relative to what central banks might deliver and against the current macro backdrop," it said.
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Market players are also keeping an eye on the Federal Reserve, which has been taking a more dovish approach recently.
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Its yet another dovish take, said Win Thin, global head of currency strategy at Brown Brothers Harriman in New York.
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When Powell characterized the Fed's effort this way earlier this year, markets threw a tantrum, viewing it as insufficiently dovish.
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A dovish Fed and ultra-loose policies in Japan and Europe combined to give higher-yielding currencies a big boost.
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Brainard on Monday was dovish in her much-anticipated comments, stressing that the Fed could be patient in raising rates.
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|
Rosengren has gone from being viewed as one of the dovish members of the Fed to a more hawkish one.
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Citi analysts said the dovish message in Yellen's speech along with month-end adjustment would keep the dollar under pressure.
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A rise in inflation pressure could make rate setters at the National Bank of Poland (NBP) less dovish, they said.
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Recent economic readings on Germany and France have been weak and the European Central Bank is expected to remain dovish.
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|
"Markets will be looking at just how dovish the FOMC has become," wrote analysts at TD Securities in a note.
|
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These fears have also led the Federal Reserve to adopt a far more dovish outlook on further interest rate increases.
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Those fears have also led the Federal Reserve to adopt a far more dovish posture on further interest rate increases.
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It has been supported by a dovish Federal Reserve, hopes of a U.S.-China trade deal and largely upbeat earnings.
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Bullion prices rose to their highest level in more than a week as the dollar fell after Powell's dovish remarks.
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"The MAS monetary policy statement was dovish across the board," analysts at ANZ said in a note after the decision.
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Expectations that the Federal Reserve will strike a dovish tone at next week's policy meeting also pressured yields, analysts said.
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The more dovish tone prompted markets to price in a chance that the bank might actually cut rates this year.
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Comments perceived as dovish from New York Fed president William Dudley to MNI on Wednesday had also hurt the dollar.
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|
U.S.-based leveraged loan funds have been struggling since Powell's recent dovish comments and hints at an imminent rate cut.
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|
If the RBI does cut rates next month, it will be the most aggressive amongst dovish central banks in Asia.
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|
"Brainard sounded fairly dovish, and talked about inflation tracking lower," said David Gilmore, partner at FX Analytics in Essex, Connecticut.
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|
The easing was precipitated by the U.S. Federal Reserve's dovish pivot in January and while an escalation in Sino-U.
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A rise in oil prices and dovish Federal Reserve remarks helped stocks rise Thursday, one day after a steep drop.
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"For the ECB all of this means that it can remain on track with its dovish tapering," ING's Brzeski said.
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Fed watchers had consequently expected Yellen to lean dovish in Tuesday's speech to battle markets' expectations of an impending hike.
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The comments from Bullard and several other Fed officials contrast with the dovish message sent after the Fed's last meeting.
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Last week, it confirmed a new dovish policy stance by eliminating two rate hikes from its forecast for this year.
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"A dovish ECB signal could be positive, in terms of leaving liquidity higher in the euro zone," the dealer said.
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The ECB's stance chimed with the dovish message delivered by the U.S. Federal Reserve in its own minutes on Wednesday.
|
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The Australian market shed 0.033%, unmoved by the release of dovish minutes from the Reserve Bank of Australia's July meeting.
|
|
EL-ERIAN, CHIEF ECONOMIC ADVISER OF ALLIANZ, SAYS THERE IS REAL CHANCE FED WILL HAVE TO CHANGE ITS DOVISH STANCE
|
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For markets, the ECB's dovish policy stance is set to continue under Lagarde, who has supported QE in the past.
|
|
These price movements come as the ECB's official stance on dovish, ultra-loose monetary policy comes under increasingly heavy criticism.
|
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This is partly as a result of a more dovish Fed, but it's making life more complicated for central bankers.
|
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Stock markets were also supported by dovish comments from Powell, who began his second day of testimony before the Congress.
|
|
But inflation has remained below the central bank's target of 2.5 percent, allowing the bank to maintain its dovish stance.
|
|
There is also a chance Draghi may sound dovish too, with the ECB having downgraded growth forecasts only last month.
|
|
In the same sentence, some traders read the business spending comment as hawkish and the household spending comment as dovish.
|
|
What was striking last week was that a dovish Fed did not evince the usual rally response from financial markets.
|
|
A Powell nomination may be absorbed better by the market as he is towards the dovish end of the spectrum.
|
|
Although he worked as a speechwriter for Walter Mondale in 1980, he came to distrust the Democrats as too dovish.
|
|
Source: FactSet Haldane's remarks come in stark contrast to a more dovish tone struck by BOE Governor Mark Carney recently.
|
|
After a meeting with North Korean spy master Kim Yong-chol, the president seemed to take an almost dovish stance.
|
|
The Federal Reserve sounds sufficiently dovish to lower expectations that it will raise rates a fourth time this year. 3.
|
|
"What we've got in our judgment is slightly on the dovish side," said Nick Tuffley, chief economist at ASB Bank.
|
|
The minutes follow comments from Federal Chairman Jerome Powell earlier this week that some took as indicating a dovish shift.
|
|
The minutes from last month's Federal Reserve meeting will be closely watched following a dovish statement a few weeks ago.
|
|
"Lagarde is likely to follow current ECB President Mario Draghi's dovish stance," said Norio Miyagawa, senior economist at Mizuho Securities.
|
|
"The Fed has doubled down on its dovish tilt," said Matt Freund, head of fixed-income strategies at Calamos Investments.
|
|
That dovish slant pushed the local dollar down around half a U.S. cent to a one-month low of $0.7209.
|
|
The euro gained 0.24 percent to $1.1504 as the dovish Fed overshadowed concerns about weakening growth in the euro zone.
|
|
The indexes handed back some gains from Tuesday after a dovish policy speech by European Central Bank chief Mario Draghi.
|
|
Some strategists say stocks are primed for a selloff should the Fed fail to take an even more dovish tilt.
|
|
Dovish shifts by central banks in the United States, Europe and Japan may have helped revive the search for yield.
|
|
The dollar fell against basket of currencies on the Fed's dovish statement on interest rates, while U.S. Treasury prices rose.
|
|
A big driver behind the gains has also been the European Central Bank's dovish about-turn earlier in the year.
|
|
"The minutes are more dovish than the policy statement," said Alberto Ramos, head of Latin American research at Goldman Sachs.
|
|
The committee saw division in 003, including three dissents in September as hawkish and dovish members argued for different policies.
|
|
Of the four, Kashkari is viewed as dovish, and Mester and Harker were both skeptical of the 2019 rate cuts.
|
|
"I don't think they want him to be dovish, but they don't want him to be too hawkish," said Redler.
|
|
If she repeats what she said [after the June meeting], you can throw away all the dovish talk we heard.
|
|
The dollar has been kicked around by a dovish Fed, weak U.S. data and the lack of action in Washington.
|
|
The U.S. central bank was more dovish than anticipated, causing those who had been buying dollars to reverse those positions.
|
|
The euro rapidly appreciated to over $1.18 after the Fed turned more dovish, as confirmed by the latest ECB minutes.
|
|
The minutes follow comments from Fed Chairman Jerome Powell earlier this week that some took as indicating a dovish shift.
|
|
However, some analysts flagged the risk of the Fed adopting a less dovish stance than what markets are hoping for.
|
|
South Koreans have consistently shown overwhelming support for their alliance with the United States, whether under dovish or hawkish presidents.
|
|
This sure makes it sound like Trump is some kind of dovish neo-isolationist, a principled skeptic of military intervention.
|
|
That makes him sound dovish by American standards, because we've come to equate dovishness with opposing policies that neocons support.
|
|
And ISIS presents a hard enough problem that any policy, hawkish or dovish, will come with real costs and downsides.
|
|
" "There is really nothing to point to what the market had hoped, that there would be a more dovish stance.
|
|
Powell wasn't more dovish than what we saw in January, but he's certainly less hawkish than he was last year.
|
|
The dovish shift was cheered by financial markets, but sounded to some analysts like a warning of economic weakness ahead.
|
|
With the Brexit debate raging, chances are the monetary policy committee could sound dovish and the Bank may downgrade growth forecasts.
|
|
Against this background, we expect a dovish January ECB meeting, resulting in euro weakness and a short term correction in yields.
|
|
If under Trump the Fed turns extremely dovish, credibility is lost, inflation expectations spike, UST yields rise and the dollar weakens.
|
|
Any sharp rise in populist expenditure could diminish chances of a dovish policy stance and future rate cut expectations, traders said.
|
|
But the risks are two way - the Fed could sound surprisingly dovish, counter to the recent statements of some Fed officials.
|
|
The Fed could also indicate it is not going to hike in 2020, and that would be taken as very dovish.
|
|
But they can't seem to shed their overly dovish tone, implying they want as much flexibility as they possibly could have.
|
|
In interviews on Thursday, Philadelphia Fed President Patrick Harker and Kansas City Fed President Esther George hinted at less dovish stances.
|
|
He pointed to the Federal Reserve's decision to leave interest rates steady and a dovish turnaround that boosted stocks this year.
|
|
"Brexit, dovish ECB, government shutdown and continued Chinese trade tensions helped the buck on general flight to safety," said Tempus' Doyle.
|
|
Central banks have turned more dovish this year as they look to avert an economic slowdown, led by the Federal Reserve.
|
|
Concerns about trade and financial conditions have pushed central banks to take a dovish stance, broadly supporting appetite for risk assets.
|
|
" SCOTT MINERD, GLOBAL CHIEF INVESTMENT OFFICER, GUGGENHEIM PARTNERS, LOS ANGELES (EMAILED) "Statement not as dovish as hoped for by market participants.
|
|
"With many market participants worried about a dovish outlook, a surprisingly hawkish one could catch some investors off guard," she said.
|
|
After weeks of Fed officials attempting to recalibrate what had been dovish market expectations, their efforts appeared to be in vain.
|
|
The weak reading could give the Bank of Canada more reason to maintain its dovish tone when it meets next week.
|
|
The bank's dovish announcement added to the rally in Treasury prices that began Wednesday morning after Australia and Germany reported data.
|
|
The dollar has fallen more than 5003 percent against the yen so far this year, partly on a more dovish Fed.
|
|
As recession worries resurface, investors wonder whether the Federal Reserve could turn more dovish as the year comes to an end.
|
|
The National Bank of Hungary, Central Europe's most dovish central bank, said its policy will continue to be accommodative and cautious.
|
|
Germany's July inflation fell to the lowest since November 2016, data showed, lending support to the European Central Bank's dovish impulse.
|
|
The speech was scrutinized to see if Brainard would maintain her dovish stance on rates or take a more aggressive posture.
|
|
Lagarde, the current International Monetary Fund head, is widely expected to maintain the dovish stance of current ECB President Mario Draghi.
|
|
Weak employment data last week, alongside dovish comments from Fed Chair Jerome Powell, significantly raised expectations of rate cuts in 2019.
|
|
These concerns are preventing sterling from benefiting from the dovish stance of central banks almost everywhere else in the developed world.
|
|
Porcelli believes there's little on the horizon in the next two weeks that will move the Fed from its dovish position.
|
|
The Federal Reserve entered a quiet period on Tuesday, a day after several of the central bank's officials delivered dovish remarks.
|
|
MUFG analysts noted that euro/dollar had "fully reversed last week's sell-off following the dovish ECB (European Central Bank) meeting".
|
|
With other major central banks turning more dovish, there is also room for further declines in market interest rates in China.
|
|
"A relatively dovish performance from Draghi was already in priced in," said John Hardy, head of FX strategy at Saxo Bank.
|
|
"Powell was a bit more dovish than the market had expected," said Gregory Faranello, head of U.S. rates at Amerivet Securities.
|
|
When Obama is hewing closest to his original campaign-era presentation as a dovish outsider, Rhodes's role steps to the forefront.
|
|
"The thinking is that if someone as dovish as she is starts talking like a hawk, people will notice," Gittler said.
|
|
It is not expected to take any additional easing steps but could take a dovish line given the uncertainty from Brexit.
|
|
"There is ample space for policy easing, provided for by the Fed's dovish tone and still benign inflation outlook," ANZ said.
|
|
This after a better-than-expected nonfarm payrolls figure on Friday and some dovish comments from Chair Janet Yellen last week.
|
|
Rosengren, who is historically considered to be about as dovish as Yellen, said he expects a strong economy and full employment.
|
|
The dollar has fallen more than 8 percent against the yen so far this year, partly on a more dovish Fed.
|
|
The Fed's language, while somewhat dovish in its recognition of global trouble, did not clearly signal an imminent change of course.
|
|
"If the Fed takes a more dovish view, I think it will provide a relief [for the U.S. economy]," he said.
|
|
Sterling struggled near a seven-year low after being hit overnight by dovish comments from Bank of England Governor Mark Carney.
|
|
"Certainly, the Fed was dovish in their approach," said Bruce Bittles, chief investment strategist at Robert W. Baird in Sarasota, Florida.
|
|
Traders said investors remained cautious before the Fed's policy decision, with many expecting the central bank to reaffirm its dovish stance.
|
|
Stocks in the region were mostly rangebound, but the dovish Fed comments added fuel to a decline in government bond yields.
|
|
That followed a batch of weak data this week that underscored the Federal Reserve's dovish stance on future interest rate hikes.
|
|
However, a more dovish tone from the Fed has aided in some recent dollar weakening, which has boosted emerging markets' performance.
|
|
Expectations that the Fed will reaffirm its dovish stance and prove accommodative after its meeting this week weighed on the dollar.
|
|
Volatility in foreign exchange markets has plummeted due to a dovish shift by major central banks including the U.S. Federal Reserve.
|
|
Market participants were buoyed by the Fed's dovish stance on Wednesday, but slowing global growth continues to weigh on investor confidence.
|
|
"The market is positioned for these along with some dovish communication from the ECB," said Yujiro Goto, currency strategist at Nomura.
|
|
That stability, along with a recent dovish shift among the world's major central banks, also paved the way to the easing.
|
|
Gerald Ford suffered the same re-election failure after pursuing dovish policies with the Soviet Union and waffling on tax policy.
|
|
Yields have been falling since last week, when the Federal Reserve raised rates but provided a more dovish outlook than expected.
|
|
"The market is so relieved about what they believe is a very supportive and dovish message" from policymakers recently, Toms said.
|
|
After hiking in December, the Federal Reserve turned dovish at its March meeting with members signalling no rate increases this year.
|
|
Partly this reflects better growth prospects in Europe and the chance monetary policy on the continent won't be uber-dovish forever.
|
|
At the outcome of a two-day monetary policy meeting on Friday, the Bank of Japan stuck to its dovish stance.
|
|
Inflation has ticked up this year, but there is a dovish shift underway among economists and investors, if not Copom members.
|
|
As Michigan State University political scientist Matt Grossmann notes, liberals have in general grown more consistently dovish over the past decade.
|
|
The euro pulled back from one-month highs after dovish-sounding comments from European Central Bank officials tempered its recent surge.
|
|
"We think the dollar is already trading under the impression of a dovish Fed," said TD Securities in Tuesday's research note.
|
|
Yields have tumbled over the past month as a dovish Federal Reserve and weak global data kept demand for bonds alive.
|
|
A dovish Federal Reserve held the line on interest rates Wednesday and substantially scaled back its expectations for further moves ahead.
|
|
"We would take as dovish any wavering in confidence that inflation will stabilise around 2 percent," they said in a note.
|
|
Most investors are bearish on the crown, believing the Riksbank will stick its ultra-dovish tone even as the ECB acts.
|
|
The Fed may have proved dovish so far this year, but that could change sooner than the markets seem to think.
|
|
Following the ECB's dovish stance last week, analysts said they expected bond spreads to tighten further in southern Europe over Germany.
|
|
The most dovish forecaster, Pezco Micro, predicted that the bank will turn to tightening only by the second quarter of 2020.
|
|
As central banks compete for more dovish policies, however, they threaten to cancel each other out, making each move less effective.
|
|
"A more dovish Fed further reinforces our view since November that BI's hiking cycle is over," Nomura said in a Feb.
|
|
The rotation of voters among the regional bank presidents could tip the balance in terms of dovish or hawkish policy decisions.
|
|
"Still, the rumors trigger some selling and buying, on perceptions of who might be more dovish or more hawkish," he said.
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"The appointment of a more dovish candidate as the next governor would raise the chances of further monetary loosening," Shah said.
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John Hardy, head of forex strategy at Saxo Bank, also said via email that the BOE opted for a "dovish hike".
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"The market has taken it a little bit on the dovish side," said Sharon Zollner, senior economist at ANZ in Auckland.
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Analysts said the lingering uncertainty is likely to force the Bank of England to remain dovish and weigh on the currency.
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Central Europe's most dovish central bank left its base rate at 210.36% and the overnight deposit rate at -210.00% in October.
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A Reuters poll showed that 2019 outlook for emerging-market currencies was mixed, despite the U.S. Federal Reserve's recent dovish stance.
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Analysts said euro zone bond markets also drew support from dovish comments on Tuesday by European Central Bank chief Mario Draghi.
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The prospect of a more dovish at the Fed underscores the concern with which central banks are assessing the global economy.
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Forecasts for dovish moves by both the Fed and ECB have kept euro/dollar stuck in a narrow range for weeks.
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Shares dropped initially, but recovered following a fall in the euro and bonds yields as Draghi struck a more dovish tone.
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Yet Merolla and Elizabeth Zechmeister have found evidence suggesting that Democrats, as the more dovish party, wouldn't necessarily get that boost.
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Euro zone government bond yields held near recent lows reached after ECB chief Mario Draghi's dovish speech in Sintra last week.
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Although these high expectations suggest another rate cut is already priced in, stocks could rally if Powell sounds dovish on Friday.
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"We believe that European markets can actually lead the rally because the central bank has a dovish stance here," Aslam said.
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Regional assets were set to gain for the week when support also stemmed from dovish indications from the U.S. Federal Reserve.
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The ECB's decision and Draghi's later comments were intentionally dovish to limit the continued appreciation of the euro, according to economists.
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UBS and Barclays have predicted a hike in the deposit rate sometime this year, while Draghi has maintained his dovish tone.
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Yields came into Thursday's session under pressure after Yellen struck a dovish note in her Wednesday testimony in front of Congress.
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The National Bank of Hungary, Central Europe's most dovish central bank, has said it would start buying mortgage bonds in 2018.
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The Australian and New Zealand dollars rose for a second straight session on Monday, helped by expectations for a dovish Fed.
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Elsewhere, the euro hit the day's lows after European Central Bank President Mario Draghi struck a dovish tone in his speech.
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With him gone, Trump may have more leeway to indulge his more dovish instincts, which rarely match big talk with action.
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Treasury yields were slightly lower after the Fed meeting, as bond traders took the Fed's continued focus on inflation as dovish.
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Guah thinks the market temptation will be to read the moves as titling toward dovish, which he sees as a mistake.
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"Dovish" Draghi still has the moves, but it's obvious the game has passed him by and a new era has begun.
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Nomura's Russo said the Fed's dovish turn has sparked some interest, especially from investors prepared to bet the dollar had peaked.
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" YOUSEF ABBASI, GLOBAL MARKET STRATEGIST, INTL FCSTONE, NEW YORK "On balance it's probably a little bit less dovish than people expected.
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All these geopolitical, tariffs, sanctions, trade risks are really damaging to emerging markets, and a dovish Fed isn't enough to offset those.
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When Pervez Musharraf was army chief and then Pakistan's military leader, few initially pegged him as someone with dovish views on India.
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"She's being more balanced rather than overwhelmingly dovish and consequentially means it's broadly hawkish," said Ward McCarthy, chief financial economist at Jefferies.
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Her comments are particularly important in that she is a reliably dovish member and a close ally of Fed Chair Janet Yellen.
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The iPhone maker's stock has rallied and retreated over the past year, tracking dovish and hawkish trade comments between Washington and Beijing.
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Central banks across the world, looking to rev up growth and fight low inflation rates, have turned increasingly dovish in recent months.
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With the prospect of a "dovish rate hike" keeping the dollar in check, the euro on Tuesday rose 0.16 percent to $1.1364.
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Successive Italian governments have long held a more dovish position toward Russia compared with most other European countries, including on relaxing sanctions.
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Santander Bank Polska said the zloty could recover some ground later this month with dovish signals coming from the ECB and others.
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More central banks in the region are "adopting a more dovish outlook," said Julia Goh, a Malaysia-based economist with UOB Bank.
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The Fed's statement was viewed as largely dovish, with the U.S. central bank being in no rush to hike interest rates again.
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It had risen to its highest since end-March earlier this week due to dovish central banks and worries about global growth.
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Overall, the average for voters on the rate-setting FOMC remains about unchanged at 4.7, just on the dovish side of neutral.
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Concerns about trade and financial conditions have pushed central banks to take a dovish stance, broadly supporting the appetite for risky assets.
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Despite the market's expectation for a dovish central bank, Fed Chair Janet Yellen has struck a generally positive tone in recent addresses.
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Hopes of a trade resolution, upbeat earnings and a dovish Fed have been powering a rally in the benchmark index this year.
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In arriving at the final decision, Fed Chair Janet Yellen and her dovish majority have a plethora of data points to consider.
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"For us markets are a bit too hawkish for our liking, and we might now be getting a dovish repricing," Patel said.
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" Rao from DBS also pointed to other factors, such as a dovish U.S. Federal Reserve and China's stimulus-driven growth "taking hold.
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Conversely, a dovish signal could power the market higher, especially in light of the increased pace of corporate buybacks announced in Q3.
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For now, markets appear to be assuming that Federal Reserve officials' dovish comments are signs of a preemptive, rather than reactive move.
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"We would take as dovish any wavering in confidence that inflation will stabilise around 2 percent," the analysts said in a note.
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The dovish comments follow the BOK's decision at its May meeting to hold its base rate KROCRT=ECI steady at 1.5 percent.
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However, judging by his pro-debt comments, he would be likely to appoint someone just as dovish when it comes to rates.
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The dovish comments sent stocks soaring, putting the Dow Jones Industrial Average on track for its best monthly performance since October 2015.
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Some market participants had expected dovish signals from the Czech central bank (CNB) at a news conference after a meeting on Wednesday.
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His resignation is likely to make the RBI more dovish over monetary policy and more willing to cut interest rates, economists said.
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The dollar has weakened in recent sessions as investors expect the Fed to strike a dovish tone when it meets this week.
|
|
The bank employed somewhat dovish language in today's policy announcement (the pound fell as traders reassessed their forecasts for future rate rises).
|
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Investment demand and a dovish policy stance by central banks around the globe are providing additional support to gold prices, Trivedi added.
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"An extremely dovish signal from Fed Chair Powell's testimony brings positive impetus for CEE debt markets," Raiffeisen analysts said in a note.
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"You are getting a bit of reprieve from a very dovish view for the Fed in the next 12 months," Tomes said.
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Any acknowledgement that growth risks are growing and financial conditions tightening is likely to be read by traders as a dovish signal.
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It was already slightly losing steam this week in anticipation of dovish Glapinski remarks after a short stint of strength last week.
|
|
So the market in a way had talked itself into presuming the Fed would be as dovish as they were hoping for.
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|
Why it matters: "The positioning overhang means no smooth sailing for emerging markets, even with a dovish Fed shift," Ribakova tells Axios.
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But although that is the consensus view, comments from BoE policymakers that markets have interpreted as dovish have generated scepticism among investors.
|
|
The moves then unravelled after comments from Bank of England policymakers that were interpreted as dovish, with the euro and sterling falling.
|
|
The New Zealand and Australian dollars recovered somewhat after the New Zealand central bank's dovish shift knocked both currencies lower on Wednesday.
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The European Central Bank is also widely expected to take a dovish stance when it holds its policy review a week later.
|
|
Analysts said euro zone bond markets also drew some support from dovish comments on Tuesday by European Central Bank chief Mario Draghi.
|
|
Yields, which move opposite price, retreated after the Fed sent a dovish message that it would likely pause in its rate hikes.
|
|
Pricing for a 50-basis-point Fed cut soared last week after a dovish speech by New York Fed President John Williams.
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Gold eased as the dollar rallied on expectations of a less dovish U.S. Federal Reserve ahead of testimony from Chairman Jerome Powell.
|
|
Fed Board Governor Lael Brainard, who is typically dovish on rates, said on Wednesday that a move on rates could come "soon".
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"Sentiment is still very positive after the ECB sounded dovish at last week's meeting," said Benjamin Schroeder, a rates strategist at ING.
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|
The crown slipped again a day after Swedish Central Bank Governor Stefan Ingves struck a dovish note in a statement to Parliament.
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|
ET. The central bank is not expected to raise interest rates at the meeting, but markets are hoping for a dovish message.
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With global economic growth appearing to slow, most market participants anticipate the U.S. central bank to strike a dovish tone on Tuesday.
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|
Dovish comments from European Central Bank chief Mario Draghi added to downward pressure on euro area bond yields and the single currency.
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|
"Markets had been expecting the Fed to be dovish but not to this extent," said Hussein Sayed, chief market strategist at FXTM.
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|
Using hedge fund analytics tool Kensho, we looked at which companies and ETFs performed the best on those dovish days from Yellen.
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|
The euro fell 0.5 percent against the dollar to $1.2308, still pressured by dovish talk from European Central Bank President Mario Draghi.
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Liss said markets should pay more attention to dovish members, like Evans, who are promoting monetary policies that involve lower interest rates.
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|
To traders, the comments from Bullard and several other Fed officials contrast with the dovish message sent after the Fed's last meeting.
|
|
CNBC's Jim Cramer said Wednesday that Federal Reserve Chair Janet Yellen took a more dovish-than-expected stance for one specific reason.
|
|
It's dovish in that they acknowledge the data has softened and they haven't dismissed the weaker inflation readings as being merely transitory.
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|
It's now a question of timing and if the Fed's dovish pivot will be sufficient to either delay or moderate the recession.
|
|
"Our expectation is that there will be a dovish hike," said Mazen Issa, senior currency strategist at TD Securities in New York.
|
|
Stocks have also been underpinned by a dovish shift from the U.S. Federal Reserve which has set aside rate hikes for now.
|
|
"Any change in the economic outlook is likely to skew dovish following the last jobs report," Citi analysts said in a note.
|
|
Mounting speculation the U.S. Federal Reserve will sound decidedly dovish at its policy meeting this week was also aiding global stock markets.
|
|
The New Zealand and managed to recover somewhat after the New Zealand central bank's dovish shift hit both currencies lower on Wednesday.
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|
"They want more time to assess and as a result, they sounded a bit more dovish than we would've expected," she said.
|
|
What if Putin thinks Trump is setting a dovish policy, but then finds that Mattis's pro-NATO policy actual sets the agenda?
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|
The pound had already slipped half a percent on Tuesday after comments from BoE policymakers were interpreted as broadly dovish by markets.
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"This report is supportive of Fed rate hikes despite the Fed itself taking a dovish tilt," said Lendingtree Chief Economist Tendayi Kapfidze.
|
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The market, positioned for a hawkish sounding Fed, viewed the statement as slightly dovish but still on track to raise interest rates.
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|
But does this somewhat expected harsh critique of a dovish president fairly credit the gutsy call he made in May of 28500?
|
|
Receding prospects of aggressive U.S. rate rises are dominating markets this week following dovish comments by U.S. Federal Reserve chair Janet Yellen.
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|
The dollar was 0.3% stronger against a basket of currencies, recovering from a sharp fall triggered by dovish comments from Fed policymakers.
|
|
A dovish Fed, and falling interest rates, should kick off a rally in one Dow stock, says Todd Gordon, founder of TradingAnalysis.com.
|
|
Both those factors might tend to make the Fed forecast overstated, if Yellen is more dovish than the Fed as a whole.
|
|
U.S. Treasury yields fell as investors started to price in the Fed's dovish interest rate outlook amid an uncertain global economic outlook.
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|
Citi analysts said the dovish message in Yellen's speech on Tuesday along with month-end adjustment led to continued light dollar selling.
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|
The dollar had weakened in recent days after dovish commentary from Fed officials, but some believe this report changes the calculus somewhat.
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"It really makes it hard to imagine the Bank of Canada sounding overly dovish in April," he said in a phone interview.
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|
And in what analysts said was a further dovish signal, it adjusted downward its view of the long term normal interest rate.
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|
" Costa forsaw the possibility for a more-balanced board of governors at the Fed but "not necessarily biased towards the dovish side.
|
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The strength in the dollar has come despite the Federal Reserve taking a dovish stance at its last policy meeting in January.
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|
The Fed will not make any "policy error" because everyone believes the Fed will remain just dovish enough not to rattle markets.
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|
A dovish Fed and progress in trade negotiations have helped the S&P 500 rise about 18 percent from its December lows.
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|
The cut reflected changes in global interest rates and the increasingly dovish stance of many central banks in 2019's first half.
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"The fact central banks seem willing to let markets price in a lot more dovish expectations has really helped sentiment," he said.
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|
Miklashevsky added he expects the Fed to deliver an overall dovish message at the meeting, leading to a rate cut in July.
|
|
The crown slipped again a day after Swedish central bank governor Stefan Ingves struck a dovish note in a statement to parliament.
|
|
The risk that Yellen could tweak her outlook in a more dovish direction kept traders on tenterhooks and limited the dollar's gains.
|
|
"The new governor may be a little more dovish than we had anticipated," said William Jackson of Capital Economics in a note.
|
|
His comments are not as aggressively dovish as Bullard's yesterday but he does reiterate the same concerns: trade tensions and low inflation.
|
|
He seems more dovish than neoconservatives like Marco Rubio, and less dismissive of the social safety net than libertarians like Rand Paul.
|
|
But slow employment growth in May, the ongoing trade war with China and weak inflation data have increased expectations for dovish remarks.
|
|
The Israeli right and left have long been defined, and increasingly polarized, by their hawkish and dovish stances on the Palestinian issue.
|
|
Therefore, Fed's pessimism of the inflation rate has once again reinforced the market's belief that Fed is taking on a dovish stance.
|
|
Some analysts said the currency may weaken if the bank sends a fresh, strong dovish message in its statement at 1400 GMT.
|
|
Central Europe's most dovish central bank left interest rates unchanged on Tuesday but warned China's virus outbreak could hurt global growth prospects.
|
|
For the month, the loonie was down 0.9% after it was pressured by a more dovish stance from the Bank of Canada.
|
|
During her testimony on Capitol Hill, a dovish Fed Chair Yellen said she expects gradual shrinking of its $4.5 trillion bond portfolio.
|
|
Historically, Democrats have been far more in line with dovish foreign policy and scaling back the U.S. presence in the Middle East.
|
|
Source: FactSet Meanwhile, the strategist also said that dovish monetary policies from global central banks contributed to a rally in developed countries.
|
|
While the plan itself was seen as dovish, more aggressive was the fact the Fed wasted no time in laying it out.
|
|
At that point they expect China to wait out the rest of Mr. Trump's term and hope for a more dovish successor.
|
|
Sterling has rallied in recent days, pulling away from five-month lows, as investors dumped the dollar following the Fed's dovish signalling.
|
|
" RANDY FREDERICK, VICE PRESIDENT OF TRADING AND DERIVATIVES FOR CHARLES SCHWAB IN AUSTIN, TEXAS: "His (Powell's) comments are being interpreted as dovish.
|
|
" Evan Brown, head of macro asset allocation strategy, UBS Asset Management, New York "It definitely skewed on the dovish side of expectations.
|
|
Kelly and Nielsen are still closely allied within the administration; Kelly certainly doesn't seem to see Nielsen as impermissibly dovish on immigration.
|
|
These concerns have prevented sterling from fully benefiting from the dovish stance of central banks almost everywhere else in the developed world.
|
|
In March it sealed that promise by doubling down on its dovish stance and scaling back projected 2019 interest-rate increases to zero.
|
|
But with Fed officials sounding more dovish and concerned about global growth, the Fed as an issue has fallen into the background somewhat.
|
|
The jobs report's dovish implications were reinforced late on Friday by Chicago Fed President Charles Evans, who said he favors gradual rate hikes.
|
|
The rally followed a better-than-expected December jobs report and comments from Federal Reserve Chairman Jerome Powell indicating a more dovish tone.
|
|
"Based on the initial move, the market was hoping for more dovish language," said Mike Bailey, director of research at FBB Capital Partners.
|
|
When Cotton and Perdue introduced their proposal in February, it received some poor reviews from Republicans who are more dovish on immigration. Sen.
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|
"Market participants are more confident about the Fed as its two-day meeting starts, particularly as the ECB is sounding more dovish," Markets.
|
|
Traders believe recent weak economic readings on Germany and France, and the European Central Bank's dovish stance, are already priced into the euro.
|
|
And the main reason for the slump is that hiking rates statement which is not dovish enough released on Thursday by the fed.
|
|
U.S. yields have fallen in reaction to the Fed's "dovish hike" last week as investors have moved money back into Treasuries, analysts said.
|
|
The pound found buyers versus the dollar as Powell's speech to an annual research symposium was taken to be more dovish than expected.
|
|
He still expects further easing "at some stage," but noted the statement had a less dovish tone than what they said in March.
|
|
His comments Wednesday come amid increasingly strained relations between the euro zone's central bank and Germany's leaders over the ECB's increasingly dovish path.
|
|
"It certainly plays into the dovish Fed story," said Win Thin, global head of currency strategy at Brown Brothers Harriman in New York.
|
|
But "better than Clinton" was not necessarily enough to make the dovish wing of the Democratic Party feel like the battle was won.
|
|
The matal had risen to its highest since end-March earlier this week due to dovish central banks and worries about global growth.
|
|
Concerns about trade and global economic growth have pushed central banks to take a dovish stance, broadly supporting investor appetite for risky assets.
|
|
That is clearly evident, the reason the Fed has leaned dovish is because trade policy is causing economic slowdowns both domestically and globally.
|
|
The statement released immediately after April's meeting was seen as dovish, but the minutes pushed investors into thinking a June hike is possible.
|
|
SECOND-GUESSING POWELL Much now depends on how dovish Fed Chair Jerome Powell chooses to be in his Jackson Hole speech on Friday.
|
|
Powell has supported current Chair Janet Yellen's general direction in setting monetary policy and has been viewed as relatively dovish on interest rates.
|
|
It certainly plays into the dovish Fed story, said Win Thin global, head of currency strategy at Brown Brothers Harriman in New York.
|
|
The currency has been dogged by a dovish Reserve Bank of Australia but it rose above $0.72 for the first time since Feb.
|
|
The Fed will convene for a two-day meeting on November 1, and market expectations remain largely dovish, despite recent supportive economic data.
|
|
Back in April, the Federal Reserve's dovish "pivot" to patience was supposed to be the opening act for an imminent China trade deal.
|
|
It certainly plays into the dovish Fed story, said Win Thin, global head of currency strategy at Brown Brothers Harriman in New York.
|
|
On Wednesday, the market interpreted a more dovish Fed behind the wheel of the economy and both gold and equities rose in tandem.
|
|
Kuroda has said he will easy policy further if needed, a scenario that looks increasingly realistic as other major central banks turn dovish.
|
|
Analysts predicted that the dovish shift from central banks will likely facilitate a "relatively benign environment" for risk assets in the short term.
|
|
However, TD Securities sees the bank holding steady on rates at the August meeting, and expect to see dovish tilts in the statement.
|
|
"The Bank of Japan (BoJ) remains dovish for now, but this means that the next policy shift can only be hawkish," he added.
|
|
"There is a remaining risk that on the rates guidance, the ECB becomes a little less dovish," said Commerzbank rates strategist Rainer Guntermann.
|
|
That is especially true since the U.S. Federal Reserve has taken a more dovish stance on interest rates, which help fuel bank profits.
|
|
Sterling has rallied in recent days, pulling away from five-month lows, as investors dumped the dollar following the Fed's dovish policy meeting.
|
|
Pricing for a Fed cut of 50 basis points soared last week after a dovish speech by New York Fed President John Williams.
|
|
The bulk of the week's gains came Wednesday after the Fed raised rates, as expected, but took a more dovish tone than expected.
|
|
"It's a fairly dovish statement which is positive for risk assets," said Bill Stone, chief investment strategist at PNC Wealth Management in Philadelphia.
|
|
The perceived dovish tone sent the dollar to a 13-month low against a basket of currencies and pushed down U.S Treasury yields.
|
|
Barack Obama was deliberative where Bush was reactive, cerebral where Bush was not, dovish where Bush was hawkish, liberal where Bush was conservative.
|
|
Some analysts said that a sense that the sell-off had overshot was partly vindicated by some dovish comments by top ECB officials.
|
|
The RBA's dovish tone pushed down the yield on Australian debt, which gave a lift to defensive stocks - often seen as bond proxies.
|
|
Second, a too-dovish statement would begin to look awkward if new economic data showed an acceleration in the pace of American growth.
|
|
The Federal Reserve leaned to the dovish side at its last meeting due to its own concerns about a variety of global risks.
|
|
Nordea Markets said the message from the bank was "dovish" as they kept a 40-percent probability of a rate cut in June.
|
|
Simpson expected it would take better economic data or signs the European Central Bank was turning less dovish to boost the euro further.
|
|
Uysal, who has served as deputy governor for three years, is known as one of the more dovish of the bank's rate setters.
|
|
Markets saw the split vote in the decision to keep rates steady as a sign the BOK was shifting to a dovish stance.
|
|
With the Federal Reserve more dovish than expected on March 16, many on Wall Street are predicting a weaker U.S. dollar from here.
|
|
The emergence of the Fed's dovish tone has helped real estate shares, which had been under pressure amid expectations for higher interest rates.
|
|
Stocks surged to year-to-date highs last week after dovish comments from Federal Reserve Chair Janet Yellen put investor fears at ease.
|
|
Weaker-than-expected economic surveys from Germany and dovish signals from the ECB have pushed hedge funds to reduce their long euro positions.
|
|
This year oil is up, high yield bonds are coming back, the U.S. dollar is down and the Federal Reserve is dovish again.
|
|
Factory activity in Germany, France, Japan, South Korea, Malaysia, and Taiwan shrank further, adding to expectations of a dovish turn from central bankers.
|
|
" BRIAN JACOBSEN, CHIEF PORTFOLIO STRATEGIST AT WELLS FARGO FUNDS MANAGEMENT IN MENOMONEE FALLS, WISCONSIN "The FOMC met expectations and delivered a dovish hike.
|
|
Virovacz said he expected a "dovish hike", with the bank explaining that risks abounded looking forward including domestic and euro zone economic developments.
|
|
"His (Powell's) comments are being interpreted as dovish," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
|
|
"The market is taking the Fed minutes as very dovish, so Treasuries are rallying, the dollar is falling," said Commerzbank analyst Christoph Rieger.
|
|
"The subsequent dovish tone in his speech is likely to buoy investors in coming sessions," said Daniel Been of ANZ in a note.
|
|
The Australian dollar slipped Tuesday afternoon as the Reserve Bank of Australia (RBA) rhetoric appeared slightly dovish, while equities around the region struggled.
|
|
Analysts were expecting a dovish stance from the bank as global market uncertainty, growth concerns and the oil price plunge call for caution.
|
|
"The Fed's outlook was more dovish that some had anticipated," said Tadashi Matsukawa, head of fixed income investment in Tokyo at PineBridge Investments.
|
|
With the prospect of a "dovish rate hike" keeping the dollar in check, the euro EUR= on Tuesday rose 0.2 percent to $1.1368.
|
|
While the remarks helped the dollar recover, they failed to spur a rally in the greenback in the wake of Yellen's dovish remarks.
|
|
But Streible said that after riding recent gains, traders are repositioning more defensively as the Federal Reserve readjusts to a more dovish stance.
|
|
"The statement is definitely more dovish than the earlier policy regime," said A Prasanna, economist at ICICI Securities Primary Dealership Ltd in Mumbai.
|
|
Kate Warne, investment strategist at Edward Jones in St. Louis, said the Fed's statement was "pretty much as expected" but slightly more dovish.
|
|
This year has been marked by powerful rallies in the stock and bond markets, thanks to the dovish policy tilt by central banks.
|
|
On foreign policy, Italy will lean dovish on Russia (without breaking ranks on sanctions) and keep attention focused on the chaos in Libya.
|
|
U.S. bonds also gained in line with European government debt a day after the European Central Bank's statement was interpreted as being dovish.
|
|
This year, we expect a less hawkish or even a potentially dovish Fed, coupled with overshadowing political issues heading into the new year.
|
|
Memories from the financial strains in the fourth quarter of 2018 will likely inspire a more dovish stance all other things being equal.
|
|
The Dow's move into positive territory came a day after the U.S. Federal Reserve took a dovish stance that weighed on the dollar.
|
|
While policymakers voted seven to two to increase the benchmark rate to 294.709 percent, the move was seen as relatively dovish by markets.
|
|
"Traders sold the dollar yesterday, on hopes today's Fed would be even more dovish," said Kengo Suzuki, chief FX strategist at Mizuho Securities.
|
|
The unanimously dovish vote to maintain rates and quantitative easing reflects a desire to shelter a fragile British economy dented by Brexit uncertainty.
|
|
Traders believe recent weak economic readings in Germany and France, and the European Central Bank's dovish stance, are already priced into the euro.
|
|
The China stimulus hints and dovish remarks by one of the U.S. central bank's most hawkish policymakers also helped lift the U.S. market.
|
|
Five Federal Reserve policymakers are speaking on Tuesday, including Chairman Jerome Powell, and markets assume they will stick with the recent dovish message.
|
|
Tame inflation and the dovish turn by the Fed earlier this year have increased the appeal of holding longer-dated Treasuries, they said.
|
|
Interest rate traders have been far more dovish and still see no change this year, but they softened their easing bias on Thursday.
|
|
The comments were among the first made by a Fed policymaker since the U.S. central bank made an unexpectedly dovish shift on Wednesday.
|
|
The market may see it as meaning the Fed is closer to neutral, with fewer rate hikes coming, and that would be dovish.
|
|
Traders have said the ECB's posture could influence the Fed, whether it is either dovish or hawkish, meaning less willing to loosen policy.
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While weak economic data and dovish comments from BoE policymakers have fuelled speculation that the central bank could cut rates as its Jan.
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As such, in light of such dovish tones, the market believed that Fed would most likely not increase its interest rates this September.
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Caron said such a move would be construed as dovish, and he doesn't see the Fed moving away from that language for now.
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Particularly of note would be the Federal Reserve's outlook on inflation, he said, adding that the central bank was likely to sound dovish.
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"Most of the gains were retraced because the Riksbank gave quite a dovish tone," said Thu Lan Nguyen, an FX strategist at Commerzbank.
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Rather, the expectation is that he will join the dovish end of the spectrum given the Treasury's warnings about the consequences of Brexit.
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And notwithstanding dovish BOJ signals, officials privately acknowledge the demerits of prolonged easing, notably the hit to financial institutions from negative interest rates.
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While weak economic data and dovish comments from BoE policymakers have fueled speculation that the central bank could cut rates as its Jan.
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Put another way, 40 percent of the committee is more hawkish than the median for 2019 while just 27 percent is more dovish.
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Any acknowledgement that growth risks are building and financial conditions tightening is likely to be read by traders as a dovish policy signal.
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Global demand for emerging market assets picked up after the U.S. Federal Reserve adopted a dovish tone after its policy meeting on Wednesday.
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The dovish policy slant hurt the New Zealand dollar which fell to a one-month low of $0.6688 from Wednesday's high of $0.6723.
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Another concern is that the U.S. team is now led by Treasury Secretary Steven Mnuchin, more dovish on trade than other administration officials.
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Central Europe's most dovish central bank offered 35 billion forints of 5-year IRS and 15 billion forints worth of 10-year IRS.
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"It's a dovish statement because it dropped reference to accommodative policy," said Thierry Wizman, global interest rates and currencies strategist at Macquarie Group.
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President Mario Draghi would probably "take a dovish tone" at the bank's news conference after its rate-setting meeting on Thursday, Hense said.
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" Luke Tilley, chief economist, Wilmington Trust, Wilmington, Delaware "The Fed moved in a much more dovish direction than anticipated on the rate hikes.
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" Joe Manimbo, senior market analyst, Western Union Business Solutions, Washington "The Fed exceeded markets' dovish expectations which took a toll on the greenback.
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On Thursday, the euro had rallied after the European Central Bank sounded less dovish about monetary policy and the economic outlook than expected.
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But advocates of a more dovish stance toward China are likely to take comfort in Trump's decision to approach the issue more carefully.
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Later on Tuesday, more dovish talk was expected from the U.S. Federal Reserve, with five policymakers including Chairman Jerome Powell having speaking engagements.
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The ECB's decision is due at 1145 GMT, with President Mario Draghi due to speak at 1230 GMT "Today we are only going to get more dovish talks but it will be the last time that they will be able to get away with just more dovish communication before they have to act," said Bert Colijn, senior eurozone economist at ING in Amsterdam.
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"We're seeing the European Central Bank strike a dovish tone, we've seen the Bank of England clearly deliver a more dovish message on less hikes over a longer term, the Fed nomination (is) very much being seen as a steady as she goes so yes, rates are higher ... but it's still a very much accommodative environment for a good while longer," he added.
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Roberts said any comments by Powell that could be perceived as "dovish," or inclined to favor low rates, would be welcome to stock investors.
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"The market is cautiously focused on whether Yellen adopts a hawkish or dovish tone," said Michiro Naito, executive director of equity derivatives at JPMorgan.
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The yen, which was already firmer versus the dollar, raced higher against most currencies as the RBNZ's surprisingly dovish stance inspired risk-off trades.
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Sterling has been pushed lower this week by a combination of weak data and comments from BoE policymakers that markets have interpreted as dovish.
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This is Sanders's strongest non-idealized appeal to progressives: He would appoint tougher regulators and conduct a more cautious, dovish foreign policy than Clinton.
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Investors are hoping a strong December jobs report and dovish words from the Federal Reserve chairman will ease rising concerns about an economic slowdown.
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Powell also discussed inflation as being muted, also a dovish comment, suggesting the Fed will not be in a hurry to raise interest rates.
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Sanders's positioning is generally the reverse of this — also broadly continuous with Obama's approach but shading in a more left-wing, more dovish direction.
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Stocks are extremely oversold, but investors still seem bent on selling after the Federal Reserve disappointed markets with a less dovish message than expected.
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