Archive for January 29th, 2020

Central Bank Watch

FOMC Statement and Powell News Conference

January 29, 2020

Three take-away points are to be noted about today’s FOMC statement: It was comparatively brief, using 46% fewer words than the previous meeting’s statement and revealed a unanimous decision, as expected, not to change the 1.5-1.75% federal funds target range. Today’s statement omits a lot of the forward guidance language such as the following from […] More

Central Bank Watch

FOMC Preview

January 29, 2020

The FOMC is not expected to change interest rates. The decision will be announced at 14:00 EST and followed 30 minutes later by Chairman Powell’s press conference. Three 25-basis point rate cuts were implemented in 2019, but the dot-plot diagram of individual member rate expectations after the December FOMC meeting seven weeks ago revealed an […] More

New Overnight Developments Abroad - Daily Update

Many Data Releases while Investors Monitor Coronavirus and Await FOMC Decision

January 29, 2020

China remains closed ostensibly for holiday but in reality due to the spreading coronavirus epidemic with the number of confirmed cases so far surpassing 6,000. Taiwan markets also were shut. The dollar firmed overnight by 0.3% against the kiwi, 0.2% relative to the euro, Swiss franc, loonie and Aussie dollar, and 0.1% vis-a-vis the peso […] More

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