Tag Archives: FOMC
Yellen did not go “Carney”
Last week’s warning from Bank of England Governor Mark Carney that interest rate hikes could come earlier than anticipated raised expectations for a more hawkish Fed today.
A history of reactions to the FOMC
If this wasn’t an FOMC meeting that had a press conference and fresh economic projections, there would be no point in hitting the World Cup pause button.
US Morning Update
The main ‘mover’ during the London morning was the GBP again, around the release of the May CPI inflation data.
The Global Macro Pulse
USDJPY broke lower to 101.15 even as EURUSD traded flat at 1.3702. AUDUSD edged lower to 0.9233. Most EM Asia currencies softened modestly against the dollar.
FX Daily
Only tier-2 data on the global agenda today. UK retail sales are expected to havestrengthened again in April after soft spending in March.
US: surge in payrolls – but still food for thought for both sides of the FOMC
In one line: Solid, but still food for thought for both sides of the FOMC. Hawks will fret over the payroll strength and the plunge in labour force participation while doves will point to the weak wage inflation.
FOMC statement: Economic activity has picked up recently
Not much to write home about with respect to the April FOMC statement. As widely expected, the FOMC continues to taper USD 10 billion and will now be buying bonds to the tune of USD 45 billion a month, starting in May.
FX Daily
The FOMC meeting tonight should provide few surprises as the Fed tapersanother USD10bn of asset purchases.
FOMC Preview: Fed to Point to Better Data but Otherwise Very Little Change
The FOMC meeting on Wednesday is likely to provide very little new information or to have much market impact. There will be no press conference or new projections and the statement is likely to only see very small changes.
Why Does FX Vol Tell US About Recent Moves In Major Currencies
There has been little divergence from the dominating theme of low FX volatility in this benign market environment. Easter holidays across many trading centres have also contributed to relatively low volumes,
Altering our FX forecasts to reflect longer-duration weakness in the USD
We have decided to fundamentally change our USD view. We now donot expect the USD to significantly strengthen until the real Fed Fundsrate turns positive in early 2016 (chart 1).
FX Daily
Another quiet day on the global agenda. FOMC minutes tonight might beinteresting given the upward adjustment to the Fed rate projections at the Marchmeeting.