Tag Archives: FOMC
Central Bank focus: Riksbanken, BOE, BOC and Fed
BANK OF CANADA TO TURN DOVISH? Today BOC is widely expected to leave its rate unchanged at 1%.
Fed FOMC meeting minutes
Federal reserve officials remained divided over how long they should stick to their ultra-loose monetary policy, according to the minutes of its March policy-setting meeting.
FOMC: No surprises
As expected, there were no significant changes in the FOMC statement or forecasts. But there were tweaks to the first paragraph in particular.
Pre-FOMC: No changes to policy stance, statement reflecting better data
The FOMC two-day meeting concludes on Wednesday with Chairman Ben Bernanke’s press conference and new updated forecasts for key variables (Summary of Economic Projections).
FOMC: Economy “paused” but the Fed does nothing new
After the fireworks at the December meeting the Fed does nothing new in January. But somehow the Committee had to acknowledge the weak GDP number;
Pre-FOMC: Only minor changes are warranted
At its December meeting, the Fed decided to introduce thresholds for unemployment and inflation that should be reached before key interest rate hikes may be considered.
FOMC…what’s required tonight to surprise mkt ?
* The FOMC’s statement must exceed expectations to push prices higher * This means adding 2016 rate guidance or buying duration equal to or larger than ‘Operation Twist’ or both * Aggressive language changes have had significant market impact for bonds and stocks, while recent balance sheet moves have had limited market impact
US payrolls post lacklustre gain
The modest 96,000 increase in US non-farm payrolls in August only increases theprobability that the Fed will launch QE3 next week and it isn’t going to help President Obama’s re-election chances either.
FX Daily Strategist: US
– Draghi delivers, EURUSD to continue its march towards 1.2800 It is clear from the market reaction following the ECB meeting yesterday that the outcome has presently surprised, even though . Stocks are continuing to trade higher (financials still outperforming), Spanish 10Y bonds have continued to rally (30bps following from 40bps yesterday).
Jackson Hole was a snooze fest as market tries to react
Bernanke’s speech offered the market virtually nothing to go on, even less, in fact than the very little the market was expecting. Was there anything worth reacting to?
FX Daily Strategist: Europe
* Weak China data set market tone, although light volumes keep price action limited The combination of a light data calendar and a UK holiday kept volumes light and FX markets directionless. However, the main focus for FX markets has been on China.
Asia today: Mild risk-off bias presses currencies, stocks lower
Tight ranges from overnight ensured a steady start to the Asian session but as the session wore on we felt a distinct bias towards risk-off.