Stephen Gallo - BMO Capital Markets

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Last quote by Stephen Gallo

Regardless of turnout or the result this weekend, the Catalan referendum is becoming yet another PR disaster for the political establishment in Spain. Although the Catalan referendum is considered unconstitutional, the defensive posture adopted by Madrid is only adding more fuel to the fire.feedback
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Sep 28 2017 Catalonia
Stephen Gallo has been quoted 29 times. The one recent article where Stephen Gallo has been quoted is What a weakened Merkel will mean for the euro currency in the coming months. Most recently, Stephen Gallo was quoted as having said, “This is a turning point in German politics, but nothing dramatic changes in the short-run as the coalition building process starts. The ECB is still on course to taper quantitative easing in the coming months and the USD is still in a multi-month downtrend.”.
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Stephen Gallo quotes

Jun 26 2017 - Federal Reserve

We were saying buy dips in cable and euro (against the dollar) last week. We still look for the same this week.feedback

Jun 21 2017

The only situation where I could see massive downside (for sterling) materialising is if the government collapses or Labour (the left-wing opposition party) gets the chance to form a government.feedback

Jun 14 2017 - Federal Reserve

There was a stale short of the commodity bloc and the move in the CAD has dragged them higher. We'll still see rate hikes baked in for the future. But there is a risk that they will send some sort of dovish signal. A median dot comes down, something like that. If Yellen says something about balance sheet reduction, that would be dollar positive.feedback

Jun 14 2017 - London

People are positioned for a dovish hike.feedback

Apr 05 2017

I think they (Czech National Bank) are telegraphing it (dropping the cap), so they must have an intention of removing it. I suspect that they're watching very closely the events taking place in France though, ahead of the Presidential elections. I doubt they'll remove it before we get a result there.feedback

Mar 21 2017

The euro has been helped by Macron's performance, definitely.feedback

Mar 14 2017

We expect the next big move in GBPUSD to be on the downside, and we see the pair falling to $1.17 in three to five months.feedback

Mar 14 2017

FX investors are going to mainly trade the GBP on the basis of firstly, how the upcoming Eurozone elections turn out and secondly, the tone of the initial Brexit negotiations after Article-50 is formally triggered, and that is basically what has been happening since the start of this week. Political risks are creeping in to the trading environment for Europe's largest currencies in a simultaneous fashion, and that is why the dollar index has been buoyant over the last 24 hours.feedback

Mar 07 2017

The run-up into the triggering of (Brexit talks) is having a negative impact, as have some of the recent data confirming a deceleration in growth in the first quarter of the year.feedback

Mar 07 2017 - Article 50

The run up into the triggering of Article 50 is having a negative impact (on sterling), as have some of the recent data confirming a deceleration in growth in the first quarter of the year.feedback

Mar 03 2017

People were not expecting the Fed to move in March, so last month they were putting on more (interest rate) carry trades in these currencies. That is clearly coming off.feedback

Jan 31 2017

I don't think this is a dollar debasement policy. But they are trying to go into talks (on trade deals) with a strong hand which says: you guys have been debasing your currencies, we think you owe us something.feedback

Jan 06 2017 - Front National

Maybe people have reduced their expectations of downside. It is difficult to get a clear reading (from options pricing) but the consensus is that it is going to be very hard for Le Pen to get in.feedback

Dec 30 2016

We expect the rough outline of a post-Brexit deal with the EU to take shape before the German elections in Q4 2017. In order to contain populist uprisings in their own jurisdictions, EU politicians that occupy the center ground will be less able to take an aggressive stance towards the U.K. Political tensions in the euro zone should deflect flows in Europe away from the EUR towards the GBP.feedback

Nov 07 2016

A lot has happened overnight because of the news on the email, much of the Trump discount in the dollar has already come out.feedback

Oct 13 2016 - RMB

(This data) is not good for the renminbi but it will also weigh on U.S. treasury yields.feedback

Jun 22 2016

We're really just seeing the tail end of the rally we saw from the start of this week.feedback

Feb 08 2016

The strong yen stands out. As long as we remain in such a risk-off environment, there's no point in trying to catch that falling knife.feedback

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