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FOMC

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Forex News – Fed shifts to qualitative forward guidance, Yellen implies earlier rate hikes

Posted on March 20, 2014 at 11:03 am GMT

The Federal Reserve concluded a two-day policy meeting on Wednesday with an announcement that it will taper stimulus by a further $10 billion to $55 billion a month. While this was widely expected by the markets, what came as a surprise were comments by Fed Chair Janet Yellen. During her press conference, Yellen implied that the Fed increased its interest-rate forecasts and suggested that there was no notable change in the Fed’s outlook on the US economy. Yellen remarked that [..]

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Asian Session – Euro hits 7-week high versus dollar on record EZ current account surplus

Posted on February 19, 2014 at 7:50 am GMT

The euro extended its rally to reach the highest level so far this year against the dollar, hitting a 7-week high of 1.3772 in Asia today. Data yesterday showing the Eurozone’s record current account surplus of 216 billion euros in 2013 helped buoy the euro. In contrast, the US posted a deficit of around $400 billion. Also weighing on the dollar was some weak US data yesterday.  The Federal Bank of New York’s Empire State manufacturing index fell to 4.48 [..]

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Forex News – FOMC Statement highlights

Posted on May 1, 2013 at 8:07 pm GMT

The following are highlights of the statement from the Federal Reserve’s Federal Open Market Committee issued on Wednesday following a two-day meeting on interest rate policy: “Information received since the Federal Open Market Committee met in March suggests that economic activity has been expanding at a moderate pace. Labor market conditions have shown signs of improvement in recent months, on balance, but the unemployment rate remains elevated. Household spending and business fixed investment advanced, and the housing sector has strengthened [..]

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European Session – Dollar weakness ahead of FOMC

Posted on December 12, 2012 at 1:16 pm GMT

There is massive dollar weakness today ahead of the Federal Reserve policy meeting conclusion later when the Federal Open Market Committee (FOMC) is expected to announce a fresh round of bond buying as part of its efforts to stimulate the sluggish US economy. Quantitative easing will replace the previous program known as Operation Twist. This involves injecting a pre-determined quantity of money into the economy, which is speculated to be over $80 billion per month in bond buying .This “unsterilized” [..]

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Asian Session – Markets consolidate ahead of Federal Reserve meeting

Posted on December 12, 2012 at 7:17 am GMT

Euro held onto gains made against the dollar yesterday following better-than-expected German ZEW data indicating that investor confidence has improved and businesses believe that Germany will not face a recession. Euro remained in consolidation mode during the Asian session as investors await on the sidelines for the US Federal Reserve policy meeting to conclude later today. EURUSD opened in Asia at 1.3004 and only managed a tight range of less than 20 pips between 1.2996 and 1.3013. The FOMC is [..]

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