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Libra raises a lot of concerns that must be addressed. The FED has no authority to regulate Facebook and Libra. The chairman of the Federal Reserve Bank Jerome Powell in the second day of his semi-annual testimony on monetary policy before the U.S. House of Representatives Financial Services Committee, says the regulator does offer support…
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According to analysts at TD Securities, while the market has been calling the Fed’s bluff of late, Chair Powell has now folded his cards, placing the July meeting very much in play. Key Quotes “Market expectations are already discounting an aggressive profile for rates, but pricing will likely be contingent on this week’s meeting between…
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Dollar drops across the board after FOMC meeting, recovers only modestly during last hour. USD/CHF suffers worst decline since June 3, heads for lowest close in a week. The USD/CHF pair fell from 0.9955 to 0.9914, hitting a 1-week low weakened by the slide of the greenback across the board. The dovish tone…
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Anders Svendsen, analyst at Nordea Markets, suggests that they doubt that the US Fed will be ready to cut its policy rates at today’s FOMC meeting but expect a clear signal of cuts ahead and a dot plot that supports the message. Key Quotes “We expect the Fed to…
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Pound post second weekly decline in-a-row against the Dollar. Next week: BoE and Fed meetings, PMIs and more. The GBP/USD consolidated a recovery on Friday but still ended the week lower. The main driver during all week has been the US Dollar. On Friday, the greenback was correcting lower and extended the retreat…
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US dollar tumbles across the board after FOMC meeting. NZD/USD hits highest since early February. Key event ahead: New Zealand GDP at 21:45 GMT. The NZD/USD pair jumped, boosted by a sharp decline of the US dollar across the board and climbed from 0.6845 to 0.6915, the strongest level in almost two…
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Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is now responding to questions from the press, with key quotes, via Reuters, found below. Public discussion needs to come back to federal debt sustainability. Balance sheet will be around 17 pct of GDP around end 2019 vs 25 pct at peak….
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US Dollar tumbles across the board after FOMC statement. Fed leaves rates unchanged as expected, signals no rate hike over the rest of the year. Powell’s press conference to start at 18:30 GMT. The US dollar dropped across the board following the release of the FOMC statement. Equity price rose and US yields decline….
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Mizuho Bank analysts suggest that the focus of the markets this week is sitting squarely on 20 March FOMC meeting, wherein a no change in policy is expected, so focus will be squarely on the press conference, new forecasts & Dot Plot. Key Quotes “A marginally firmer US dollar and a slightly higher oil prices…
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In a speech on the economy and the monetary policy, Boston Fed President Eric Rosengren argued that it may take several meetings before the Fed has a clear understanding of whether economic risks are becoming reality. Key quotes (via Reuters) Earlier concerns that economy might overheat now seem ‘less pressing’. Growth issues remain, including…
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A weaker US dollar boosted the EUR/USD pair after the FOMC meeting. The pair broke to the upside and reached at 1.1502 the highest level since January 11. Now the 1.1450 area is the immediate support. While holding above, more tests to the 1.1500 area seem likely. EUR/USD 15-minute chart Today’s rally pushed…