Tag Archives: FOMC
US Morning Update
Our expected 1.1025-1.1075 range yesterday was breached on the topside for more than one reason, as is generally the case in FX. We suspect that some F&C-related flow was partially to blame: either ‘real’ or ‘speculative’.
US Morning Update
For the first time in at least a week, and possibly a bit longer, USDCAD participants are not really watching Canadian macro factors.
FX: safe haven, anyone?
The “risky” currencies can no longer blame the “taper”, as the “safe haven” currencies struggle to be less safe…Inflation focus this week.
China: What rebalancing?
The Chinese economy ended 2013 with a real growth rate of 7.7%, the same as in 2012. While this more than met the government’s full-year target of 7.5%, growth was soft by historical standards,
FOMC minutes:Taper decision not a close call
Last month the Fed decided to start tapering its monthly bond purchases. According to the FOMC minutes, most officials supported the gradual reduction in QE as they saw waning benefits from it.
Daily FX Wrap and Strategy
The NZD/USD sits lower this morning, trading just above 0.8170 currently. Along with most of its peers, the NZD suffered extreme volatility yesterday morning as the market digested the implications of the US FOMC finally announcing a start to
FOMC: Improving Economy, Low Inflation, Tapering to Start
FOMC members reaffirmed their expectations for stronger growth in 2014 and for inflation to remain belowthe committee’s 2 percent target. Unemployment rate targets were lowered. Result? Fed starts tapering.
Daily FX Update
Today’s focus is the Fed and markets are likely totrade cautiously ahead of it. The Asian and European sessions weremixed with the European currencies of GBP, NOK and SEK outperforming;while the rest lost ground against the USD.
The Global Macro Pulse
The 10y US yield has bounced slightly higher to 2.8445% in Asia trading after the 4bp fall overnight. The USD is relatively steady against majors but strengthened against most EM Asian currencies ahead of tonight’s FOMC.
Daily FX Wrap and Strategy
The NZD/USD sits at a similar level as yesterday morning, at 0.8250, having traded above 0.8280 overnight. Yesterday’s Half Year Economic and Fiscal Update confirmed the NZ fiscal accounts are on a solid footing.
US Morning Update
USDCAD price action was very muted during the first-half of the London session. With little in the way of key Canadian data today, we expect this to remain the case for at least the 1H of the North American session.
FX Viewpoint: taper the taper. Now.
Expectations for “taper” this week have increased…beware. USD weakness to resume. SEK could get some support on surprise “no cut”, but…