Such dovishness has already been priced into the single currency, analysts said.
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That dovishness would come at a time when yields are already low.
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Sweden's central bank is not alone in erring on the side of dovishness.
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I don't think it's moved yet, but the Fed dovishness has played out.
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Some dovishness has been priced in so it's difficult to be more dovish.
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Benefiting from the euro zone dovishness: stock markets on both sides of the Atlantic.
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But the real risk was that it would not satiate investors' demand for dovishness.
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That might explain why Fed dovishness was met, this time, with a falling stock market.
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It is ominous that Fed dovishness is no longer inspiring much enthusiasm for risk assets.
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That's the one that hurts, that's another potential path of dovishness that he didn't take.
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"It really started to rally hard when the Fed started pivoting toward dovishness," he said.
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Strategists said Powell was reaffirming the dovishness of the Fed's comments, following the June meeting.
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"The ECB's dovishness has been massively under-estimated," Mizuho analysts wrotein a note on Friday.
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Benchmark 10-year Treasury yields slid as investors remained focused on central bank dovishness globally.
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"The market is anticipating that there is going to be dovishness from (the Reserve Bank of New Zealand) because there has been dovishness from other developed market central banks," said Thierry Wizman, global interest rates and currencies strategist at Macquarie Limited in New York.
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This is a pity because dovishness was one of Trump's most attractive qualities in the election.
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Markets rallied amid the policy dovishness, though most economists still expect a growth slowdown this year.
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"The ECB's dovishness has been massively under-estimated," Mizuho analysts wrote in a note on Friday.
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But the markets focused on dovishness Wednesday, and expectations for a December interest rate hike faded slightly.
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For some voters, this partisan identity even overrode their ideology — the traditional Republican hawkishness and Democratic dovishness.
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"There is probably a little more ECB dovishness to be priced in yet," says Neil Wilson at Markets.
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Against such a background of uncertainty, however, analysts said to expect more dovishness from the BoE – for now.
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"My expectations are that the Fed will maintain their dovishness," said Gregory Faranello, head of rates at Roberts & Ryan.
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She said inflation response to economy is a key uncertainty, alluding to the inflation again, part of the dovishness.
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He has to offer something, and that something has to embody dovishness, and the rest will work itself out.
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However, on balance the Fed has shown a tendency to exercise caution and to err on the side of dovishness.
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So it's hard to escape the impression that his newfound dovishness is simply a hack's adaptation to whatever Trump demands.
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That makes him sound dovish by American standards, because we've come to equate dovishness with opposing policies that neocons support.
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Fuelling this dovishness is a softening of the global economy and there was further gloomy news on this front on Thursday.
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The Federal Reserve is a factor that could surprise the markets, either with its hawkishness or dovishness, should the economy soften.
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Donovan believes the rest of the Governing Council will not allow Draghi to get away with aggressive dovishness for much longer.
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At least Obama's Russia policy was philosophically consonant with a longer liberal tradition of relative dovishness in U.S. relations with Moscow.
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"The dollar index is at the lowest level since February 20th and stocks continue to celebrate dovishness and easy money," he wrote.
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But given the firmer data, how much incremental dovishness can be expected, White House calls for a half-percent rate cut notwithstanding?
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"The Fed's statement yesterday oozed dovishness, for no apparent reason," Ian Shepherdson, chief economists at Pantheon Macroeconomics, wrote to clients on Thursday.
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Investors perceived dovishness on the part of Federal Reserve Chair Janet Yellen, who testified before the House Financial Services Committee on Wednesday morning.
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Benchmark 10-year Treasury yields slid, but came off 15-month lows reached overnight, as investors remained focused on central bank dovishness globally.
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The Federal Reserve's dovishness on interest rates is taking its toll on Japan's efforts to stimulate its economy, strategist Boris Schlossberg said Monday.
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With the dollar quickly rebounding, the only currency in the region that benefitted from the Fed's dovishness was the most liquid unit, the zloty.
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And he developed a cadre of aides who can carry on that legacy to future Democratic administrations and keep a tradition of dovishness alive.
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"I think the markets may have overemphasized the dovishness of what he's trying to say," said Scott Anderson, chief economist at Bank of the West.
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Benchmark 10-year Treasury yields slid on Wednesday, but came off 15-month lows reached overnight as investors remained focused on central bank dovishness globally.
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At the 1984 Republican National Convention, then-Democrat Jeane Kirkpatrick, a foreign policy adviser to President Reagan, blamed "San Francisco Democrats" for her party's dovishness.
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The dovishness on rates is less about anticipated growth and more about the fact that we simply don't have any signs of inflation picking up.
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"Fed minutes have taken some of the dovishness out of the market and is causing a slight softening in gold," Capital Economics analyst Ross Strachan said.
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The benchmark 1.11-year Treasury yields slid on Wednesday, but came off 15-month lows reached overnight as investors remained focused on central bank dovishness globally.
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The benchmark 10-year Treasury yields slid on Wednesday, but came off 15-month lows reached overnight as investors remained focused on central bank dovishness globally.
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The myth that Democrats tend toward dovishness and Republicans toward hawkishness is not true; across Democrats and Republicans, liberals and neocons, it's hawks all the way down.
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"I think it's a combination of dovishness out of the Fed and ... no sign of a U.S. recession," said Ben Pace, chief investment officer at HPM Partners.
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If the Fed's pivot to full-on dovishness in a short space of time was remarkable, the U-turn by other G223 central banks is as astonishing.
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"The Fed minutes have taken some of the dovishness out of the market and (that) is causing a slight softening in gold," Capital Economics analyst Ross Strachan said.
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"We acknowledge the ECB's dovishness but are inclined to see growth (in Europe and globally) as the more forward-looking, and bullish, driver of the euro," he said.
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"There's been a slight readjustment of expectations - some of the dovishness regarding the Fed may have gone too far," said William Jackson, senior EM economist at Capital Economics.
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But the global trend -starting with the United States, Europe and Australia- is moving towards central bank dovishness and the BOJ's stance is in line with the trend.
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"(This) could indicate the market was looking for a bit more than the FOMC could deliver in terms of dovishness," Saxo Bank's head of commodity research, Ole Hansen, said.
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"The moves are about the dovishness of their central banks and deterioration in their domestic data," said Ben Randol, senior FX strategist at Bank of America Merrill Lynch in New York.
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Despite a history of extreme dovishness throughout her tenure as Fed chair, Janet Yellen surprised markets Wednesday with her upbeat assessment of the economy and dismissiveness of recent low inflation readings.
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So while Trump's embrace of dovishness is moving the Republican Party in a sensible direction on the issue, his personnel moves aren't rewarding the dissidents who were correct ahead of time.
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Dovishness by Federal Reserve Chair Janet Yellen sent the market into a rally Tuesday, which extended into Wednesday, but a recession is going to "rear its head," according to this marker strategist.
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But markets took the Fed's dovishness as a sign the economy could be in even worse shape and the Fed would have to actually cut rates in 2019 to prevent a recession.
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European Central Bank President Mario Draghi said on Wednesday that policymakers could delay a planned interest rate hike again if necessary, but dovishness has already been priced into the single currency, analysts said.
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"There is no doubt that the German economy had a disappointing start to the second quarter, justifying the European Central Bank's new dovishness," Carsten Brzeski of ING wrote in a note to clients.
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"Janet Yellen doubled down on dovishness, in a speech full of risks to the economic outlook," Mark Matthews, head of research for Asia at private bank Julius Baer, said in a note Wednesday.
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"If we see weaker than expected nonfarm payroll data as well, that will support gold prices and the momentum will be pretty strong provided it is backed up by Fed's dovishness," he added.
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Speculation that the ECB will match Fed dovishness and possibly even announce looser terms for a new cheap lending scheme sent German 10-year government bond yields to a record low of minus 0.2250%.
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"This clearly feels like the market probably overreacted to his hawkishness in October, and we're probably overreacting to to his dovishness in January and February," said Art Hogan, chief market strategist at National Holdings.
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"Today is a bit of a messy session with the dovishness of Fed from last night, U.S.-China trade doubts and compelling Brexit developments over the last 24 hours," said Spreadex analyst Connor Campbell.
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"If we see weaker than expected non-farm payroll data as well, that will support gold prices and the momentum will be pretty strong, provided it is backed up by Fed dovishness," Hynes added.
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" ART HOGAN, CHIEF MARKET STRATEGIST, WUNDERLICH SECURITIES, NEW YORK: "Market reaction is going to be a jumble and it always is, there's a certain amount of things priced in in terms of expectations for dovishness.
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But Trump's ostensible dovishness on Middle Eastern wars, and his claim to represent tough-nosed dealmaking, does not exactly square with his plan to send in oil companies to forcibly remove the region's natural resources.
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"Investors may be focusing on the rationale behind the Fed and other central banks' dovishness, which is the prospect of slowing growth," said Frances Cheung, Singapore-based head of macro strategy for Asia at Westpac.
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"People were looking looking for dovishness out of [ECB President Mario] Draghi, and it wasn't until the end of the news conference that he delivered that," said Luke Bartholomew, investment manager at Aberdeen Standard Investments.
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Richard Clarida Vice Chairman of the Federal Reserve However, the market is still divided on the fed's current stance, There are also voices warning that Powell's comments do not represent the fed shift to dovishness completely.
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"The dollar has moved a fair bit in a very short period of time against these currencies and any hint of dovishness may trigger a sharp rebound," said Michael Hewson, chief market analyst at CMC Markets.
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"Despite a return to dovishness among the world's major central banks over the year, public investors are concerned about a potential global downturn and its impact on their portfolios," the survey seen by Reuters on Tuesday added.
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But as the mainland's economy slows amid a transition away from manufacturing- and investment-led growth and toward domestic consumption, some analysts believe Yellen's dovishness gives China breathing room to progress on its economic and currency reforms.
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"We were expecting a little bit more dovishness within the statement, but clearly it shows that it's not going to take one or two data points to shift the RBNZ," said Philip Borkin, senior economist at ANZ.
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"I think that provides a good mix of play into the dovishness of the antipodean central banks and also the resilience of the Asian currencies," Goh said, referring to the central banks in Australia and New Zealand.
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"The RBI's commentary on growth and the upcoming GDP data should support the central bank's surprise cut... there should be more dovishness in the next meeting, because of the ongoing slowdown," said Shashank Mendiratta, economist at IBM.
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"A bit of a pullback in core CPI reinforces Yellen's dovishness but also kind of is in line with low growth expectations," said Margaret Kerins, head of global fixed income strategy at BMO Capital Markets in Chicago.
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"Market sentiment has been affected by the payrolls report and there's the general dovishness we saw yesterday from the ECB, which means euro zone rates will stay low for some time," said Mizuho corporate strategist Peter Chatwell.
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But with so much dovishness already priced into the markets and the dollar having weakened 1% over the past three weeks, some market analysts say the greenback may strengthen if the Fed signals a more neutral stance.
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"With so much dovishness priced before the ECB meeting this week, Draghi will struggle to exceed market expectations and this may help the euro," said Valentin Marinov, head of G10 FX research at Credit Agricole based in London.
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He told CNBC that he believed China's banks were the "external risks" to the U.S. economy U.S. Federal Reserve Chair Janet Yellen regularly mentions her speeches and that this helped explain her dovishness regarding further interest rate hikes.
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" Citi's chief U.S. equity strategist, Tobias Levkovich, also took the macroeconomic layout into account: "I probably would prefer to be talking about better growth than Fed ... dovishness, but that could change over the next few months as well.
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Investors played the diverging monetary policy outlook between the U.S. and Europe, where some market watchers were taken by surprise by the degree of dovishness in comments by European Central Bank policymakers at a policy meeting on Thursday.
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In the latest sign of global central bank dovishness, the Bank of Canada held interest rates steady as expected on Wednesday amid a slowing economy and said there was "increased uncertainty" around the timing of future rate increases.
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Reams have been written on the reasons for falling volatility, but logic attributes it first to major central banks' recent tilt back into dovishness, and second to the global economy's tepid but steady expansion with few inflation surprises.
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" The reason that the dovish statement is "not getting a lot of people excited on the equities side," he added, is that "the beast in the equities market needs a higher bar; it need more dovishness to get excited.
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"BRL is unlikely to be impacted by this policy decision, though increased dovishness and a lower rate trajectory will influence longer-term susceptibility to broad dollar movements," said Sacha Tihanyi, deputy head of emerging markets strategy at TD Securities.
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Bond markets in the region still offer a decent yield premium over U.S. Treasuries, and the dovishness of central banks in Asia could lead to further rises in bond prices, thereby spurring the borrow-low, invest-high carry trades.
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He needs to assure voters they can trust that his policies will deliver the shift toward dovishness they desire, while simultaneously promising them that there won't be a price to pay for this approach when it comes to ISIS.
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"The dovishness of the Fed and ECB, geopolitical tensions in the Middle East, and a technical breakout above $1,350 with volumes gave strong support for the metal," said Jigar Trivedi, a commodities analyst at Mumbai-based Anand Rathi Shares & Stock Brokers.
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"I think the equities market will continue to grind higher, save [Fed Chair Jerome] Jay Powell and the Fed not expressing something that is in line ... or reflecting the market's anticipated dovishness," said Rick Rieder, BlackRock's global CIO of fixed income.
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If Trump's no anti-war activist, we can at least take solace in the fact that his reputation for dovishness stems from a greater awareness of who he is running against: someone with a demonstrated willingness to deploy lethal force.
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Now, some analysts say Federal Reserve Chair Janet Yellen's dovishness gives the world's second-largest economy breathing room to progress on its economic and currency policies — at least until the second half of the year, when another rate rise is possible.
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Keeping Italy happy enough to stay in the euro zone will, in the short term, take much faster growth across the euro area as a whole, fostered by continued dovishness from the ECB and less finickiness from the European Commission.
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An index of global stocks is up more than 16 percent since the end of 2018 as falling market volatility and a renewed dovishness from global central banks, led by the U.S. Federal Reserve has boosted risk appetite across the board.
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"The dovishness of the Fed and ECB, geopolitical tensions in the Middle East, and a technical breakout above $1,350 with volumes gave strong support for the metal," said Jigar Trivedi, a commodities analyst at Mumbai-based Anand Rathi Shares & Stock Brokers.
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Adam Ozimek, an economist at Moody's Analytics, pointed to Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis from 2009 to 217883, who flipped from hawkishness to dovishness when reality failed to affirm his warnings of a looming surge in inflation.
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" "The one-liner is that they are still going to say that they will "act as appropriate" to sustain the economy and there is a potential of this being interpreted as overly dovish or of dovishness that we have already baked in.
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At least in terms of economic projections the dovishness exceeded expectations from Wall Street, where some Fed watchers fully expected the committee not to raise rates but were looking for more hawkish language on rates, considering a recent upturn in economic data.
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Dovishness from the European Central Bank (ECB) and the Fed is spurring emerging market sentiment as developing world central banks have become less worried about accelerating inflation, Vladimir Miklashevsky, senior economist and trading desk strategist at Danske Bank, wrote in a note to clients.
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Much of the debate about the candidates, at least up to now, has focused narrowly on their hawkishness or dovishness – Fedspeak for a preference for raising the cost of money on the one hand or for keeping it cheap and plentiful on the other.
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"A risk for Australia though is that the Fed's continuing dovishness maintains recent upwards pressure on the value of the Australian dollar, which rose 1.5 percent on the Fed's announcement," Shane Oliver, head of investment strategy and chief economist at AMP Capital said in a note Thursday.
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The run of weak UK data, together with a general lurch towards dovishness by the U.S. Federal Reserve and other central banks, has prompted money markets to virtually price out any chance of a Bank of England interest rate rise in 2019, another factor likely to pressure sterling.
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The run of weak UK data, together with a general lurch towards dovishness by the U.S. Federal Reserve and other central banks, have seen money markets almost price out any chance of a Bank of England interest rate rise in 2019, another factor that's likely to pressure sterling.
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" As for Bush, I'm willing to buy that he really is kind, particularly to the women in his life; emotional about the wounded and displaced; "sickened" by corruption "more than any dovishness"; and realized after being re-elected "how much he already wanted the whole thing to be over.
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Fresh signs of dovishness from other major central banks as China is moving to boost its economy and the U.S. Federal Reserve is signalling a pause in its rate hike cycle would boost equities and high-yielding debt, at a time when broader economic data has shown signs of flagging.
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"While we share doubts about the sustainability of the recent pick-up in economic growth, the recent strength in employment will make it harder for the Bank of Canada to defend its dovishness on the economy and the need to keep interest rates low in the near future," David Madani, senior Canada economist at Capital Economics, said in a research note.
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No doubt a good part of that is down to positioning in the space, that also happened to coincide with a slowdown in economic data and renewed dovishness out of the European Central Bank, which has since dispelled any hopes of rate hikes for at least another 12 months — and therefore a headwind for the interest rate-sensitive banking sector.
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Vox's Zack Beauchamp looks at each of the central promises of Trump's foreign policy, and finds the common throughline is that ... Trump is really just all over the place, with no seeming unifying principle to speak of: Trump's ostensible dovishness on Middle Eastern wars, and his claim to represent tough-nosed dealmaking, does not exactly square with his plan to send in oil companies to forcibly remove the region's natural resources.
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