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FOMC

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European Session – Dollar slips below 106 yen as focus turns to Fed

Posted on June 15, 2016 at 3:11 pm GMT

Markets are steadier overall on the day and are now shifting their focus on the Federal Reserve which concludes a two-day meeting today with a policy announcement followed by a press conference with Chair Janet Yellen. There are no expectations of a rate hike at this FOMC meeting. The Fed raised its key overnight lending rate in December for the first time in nearly a decade to the current range of 0.25% to 0.50%. All eyes will be on the [..]

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Asian Session – Yen pulls back as risk-off eases ahead of FOMC; euro pressured by negative bund yields

Posted on June 15, 2016 at 8:24 am GMT

Risk appetite improved in Asian trading on Wednesday, though Brexit fears continued to weigh on market sentiment. Asian equities attempted a rebound as most major indices shrugged off sharp losses in European stocks yesterday to turn positive in late Asian session today. The yen fell back against its peers as safe-haven demand eased but it remained not too far from Tuesday’s lows. The dollar edged up to 106.25 yen, having touched a low of 105.62 yen yesterday. Stronger-than-expected retail sales [..]

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Solid US retail sales fail to move the dollar

Posted on June 14, 2016 at 2:24 pm GMT

Retail sales in the United States rose more than expected in May, easing fears that the surge seen in April would be a short-lived improvement. May retail sales were up 0.5% month-on-month according to the advance report, beating estimates of 0.3%. It follows a jump of 1.3% in the previous month, which broke a series of weak readings since the end of 2015. On a 12-month basis, sales were 2.5% higher than in May 2015. The biggest monthly gain came [..]

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Asian Session – Yen extends gains on Brexit fears as pound slides

Posted on June 14, 2016 at 8:08 am GMT

The yen extended its gains on Tuesday as uncertainty over key upcoming risk events continued to attract flows to safe havens. The yen’s strength prompted Japan’s finance minister to again issue a fresh warning to the markets against speculative moves, saying that the government will respond “firmly” if necessary. Further supporting the Japanese currency today was an upward revision to April’s industrial output. Industrial production was revised up from the preliminary estimate of 0.3% month-on-month to 0.5% in the final [..]

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Week Ahead – Central bank policy to drive the markets as Fed, BoJ, BoE and SNB meet

Posted on June 10, 2016 at 11:53 am GMT

Key data releases next week out of China, the UK and the US will likely struggle to get much attention as monetary policy takes center stage. The US Federal Reserve will hold its highly anticipated FOMC meeting but the Bank of Japan’s meeting may be the one to watch out for, while the Bank of England and the Swiss National Bank are unlikely to produce any surprises. Main China indicators to hold steady in May Data out of China is [..]

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Yellen reinforces market expectations of summer rate hike

Posted on May 30, 2016 at 11:56 am GMT

Expectations that the US Federal Reserve could be readying to raise interest rates as early as June gathered pace over the weekend following hawkish remarks from its head. Fed Chair Janet Yellen on Friday added to the growing number of hawkish voices coming out of the Fed in recent weeks, reinforcing market expectations that US rates are likely to go up in the summer. Speaking at the Radcliffe Institute for Advanced Study at Harvard University, Yellen said during a panel [..]

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European Session – Dollar extends post-FOMC minutes gains, sterling falls on dovish MPC member comments

Posted on May 20, 2016 at 2:37 pm GMT

The US dollar is on track to end the week with strong gains due to a shift in the US rate outlook after Wednesday’s hawkish FOMC minutes. Most major currencies consolidated weakness against the greenback today and were range-bound for the European and Asian sessions, following the decline driven by the FOMC minutes, which suggested a rate hike is possible in June. During the European session, most major pairs were flat, with the exception of the dollar/yen pair which rose [..]

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Fed minutes alert markets to possible June rate hike; dollar charges higher

Posted on May 19, 2016 at 11:43 am GMT

The meeting minutes of the FOMC’s April policy meeting published yesterday delivered a wake-up call to the markets, who had all but priced out a rate hike in June. The minutes gave a more confident assessment than what the markets were anticipating on the likelihood of inflation returning to the Fed’s 2% target in the medium term. The Committee also set out a specific set of conditions that if met by June, would form a strong case for a rate increase [..]

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