FOMC

Stocks and Commodities Up, Manufacturing PMIs Out, and FOMC Announcement on Tap

November 1, 2017

On this All Saints Day, the dollar rose 0.5% to a 6-month high against the yen and also posted advances of 0.4% against the Swiss franc while moving above par and 0.3% relative to the euro. The dollar is steady against the loonie, peso and sterling but has fallen 0.7% relative to the kiwi and […] More

FOMC Leaves FF Target at 1-1.25%

September 20, 2017

The FOMC statement kept the existing interest rate target with no dissenting votes. Officials do not expect the hurricane storm damages to “alter the course of the national economy over the medium term. The statement includes a two-page addendum of modifications to a balance sheet normalization program that will begin to be implemented next month. […] More

A Compelling Argument for the Fed to Stay the Course of Rate Normalization

September 18, 2017

This week’s Federal Open Market meeting is not expected to raise the 1.00-1.25% federal funds target but is nonetheless anticipated as an event that may shed many clues regarding future policy. The disconnection between a tightening labor market yet continuing sub-target inflation has kindled speculation that there may not be any further interest rate increases […] More

Growth Optimism Crowds Out Geopolitical Worries in Wednesday’s Session

August 16, 2017

Markets have turned a deafer ear to geopolitical concerns, but such is likely only a temporary lull. A Korean war seems less imminent, but world alarm about changes happening in the United States continues to mount. The title of a Tuesday Op-Ed article in the Financial Times — America is now a dangerous nation — would have […] More

Oil and Stocks Firmer

July 26, 2017

The Federal Open Market Committee completes its two-day policy review and will announce its findings and plans at 14:00 EDT (18:00 GMT). See preview. Second-quarter corporate earnings have been mostly better than expected and have provided a supportive foundation for equities. 10-year sovereign debt yields are down three basis points in the U.K., 2 bps […] More

Wide Spectrum of Developments Elicit Financial Market Response

July 25, 2017

In an escalated barrage of complaints, President Trump has lashed out at a range of adversaries: Attorney General Sessions, Congressional Republicans, Hillary Clinton, Bob Meuller, and the press. A vote on repealing the Affordable Care Act seems likely in the Senate this afternoon. The Federal Open Market Committee began a two-day policy meeting today. U.S. […] More

Better Tone in Stocks

June 13, 2017

Australian stocks rallied 1.7%, led by financials. A rebound in technology has lifted other stock markets. China and Hong Kong bourses closed up 0.4%. South Korea’s Kospi climbed 0.7%. Indonesian and Singapore markets rose 0.3%. The German Dax, Paris Cac and British Ftse are up 0.5%, 0.4% and 0.1%. Japan’s Nikkei lost 0.1%, however, and […] More

Waiting for the FOMC Statement Later Today

May 3, 2017

Markets were closed today in Japan (Constitution Day) and both South Korea and Hong Kong (Buddah’s birthday). Lower U.S. share prices are indicated likely in the wake of disappointing data released yesterday. All six automakers reported lower sales in April, and Apple’s 1Q earnings missed expectations. The yen’s recent slide continued. The dollar shows gains […] More

FOMC Statement & Projections

March 15, 2017

The FOMC hiked its fed funds rate target 25 basis points to 0.74-1.0%. There was a single dissent, Minneapolis Fed President Kashkari, who favored no change. The released statement is similar to the prior one. Business investment was upgraded, and the statement acknowledges that the desired level of inflation has been reached, so the goal […] More

Lots of U.S. Data and a Yellen Press Conference This Ides of March

March 15, 2017

The Federal Reserve will release new macroeconomic forecasts and  is expected to raise the fed funds target at 18:00 GMT, and the press conference begins a half hour later. The dollar softened overnight by 0.6% against the peso, 0.5% versus sterling, 0.4% relative to the New Zealand and Australian dollars, 0.3% vis-a-vis the loonie and […] More

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