Tag Archives: FOMC
TEXT OF FOMC STATEMENT
Information received since the Federal Open Market Committee met in March suggests that the economy has been expanding moderately. Labor market conditions have improved in recent months; the unemployment rate has declined but remains elevated.
FOMC ready to dance with market expectations
The USD was even having a hard time holding onto gains against sterling today, which weakened on a very negative GDP report for Q1. Has the market appropriately priced in the FOMC risks here?
Last FOMC meeting before the doves arrive?
We crank up the activity today with several key monthly indicators, including US Retail Sales, followed by the last FOMC meeting of the year this evening, which will be the last such meeting for several of the hawks in the group.
US Economics Digest – FOMC Preview: The Neverending Story
The “Operation Twist” portfolio maturity extension program has only just gotten underway and already more Federal Reserve policy easing is under consideration. The types of additional easing the Fed has been contemplating fall into three broad categories. We discuss the prospects for each option in turn:
FX DAILY STRATEGIST: Europe – 10 October 2011
Fitch pulls the rug from payrolls rally; Merkel-Sarkozy delivers little, but tone sees market retain optimism: A better than expected September US payrolls report took risk up and the dollar further down Friday, EURUSD making a new weekly high above 1.3500, only for the move to be more than reversed by Fitch’s ratings actions against […]
Daily FX Technical Strategy – Commodity currencies, the last shoe to drop?
The FOMC meeting yesterday spurred another wave of risk reduction, even in EM where we had expected the process to slow. USD strength, though, is finally undermining commodity prices, as growth fears take over from inflation, and commodity currencies are finally coming under selling pressure.
Americas FX Daily – Tighter ranges as the FOMC approaches
What happened overnight – EUR and equities rally modestly ahead of the FOMC – FOMC may deliver “twist”; a cut in IOR remains a possibility – BOE minutes likely to show more votes for new QE – Norges on hold
Twist – good for the dollar?
If ‘twist’ flattens the curve and doesn’t send short yields down, it won’t hurt the dollar. The FOMC concludes this evening with three policy options (other than doing nothing, which isn’t Mr Bernanke’s way): Cut the rate on banks’ excess reserves, increase the sum of bonds held on the Fed’s balance sheet, or extend the […]
FX DAILY STRATEGIST: Asia – 21 September 2011
USD softer, EUR stable, CHF hit by SNB re-peg speculation. More positive signals out of the latest troika/Greece phone conference, an absence of any bad-news scare stories and some sense of optimism that the FOMC would deliver enough following the conclusion of the FOMC meeting today to add a layer of support under risk markets, […]
FX DAILY STRATEGIST: US – 20 Sept 2011
USD retraces lower and equities recover in Europe, but sentiment still fluid: The dollar softened in the European session with the move being linked to selling by Asian accounts. Equities have rallied however sentiment remains fluid. Further negative headlines surrounding the European banking sector could see liquidity tensions exacerbate.
FX DAILY STRATEGIST: Europe – 20 September 2011
S&P pull the rug from positive signals from Greece/troika phone conference: Headlines out of Greece following Monday’s phone conference with troika officials, suggesting that the two sides were close to an agreement that would unlock the next tranche of assistance from the EU/IMF, brought EURUSD back up through 1.3700 from an intra-day low of 1.3586.
HSBC: Bernanke presents the case for policy action
In a speech about the US Economic Outlook, Fed Chairman Ben Bernanke offered a litany of reasons why the FOMC will consider easing monetary policy further when it meets later this month on 21 September. He noted that there are “persistent” factors holding back the economic recovery that are not likely to fade soon.