FOMC

Waiting and Seeing on Multiple Levels

December 11, 2019

The FOMC will reveal its decisions later today from its final scheduled review of U.S. monetary policy in 2019. Financial markets in advance have been marking time ahead of the revelations of any policy action today, when interest rates are likely to be moved next and in what direction, and what factors are currently attracting […] More

Markets Anticipating Another Fed Rate Cut

October 30, 2019

The dollar marked time overnight as investors await confirmation of further easing from the FOMC. Their expectation of a third 25-basis point reduction since July 31st of the federal funds target is thought by many to be accompanied by forward guidance indicating a predisposition to pause afterwards. The announcement at 18:00 GMT will be followed […] More

European Economic Sentiment Stumbled in July

July 30, 2019

European share prices fell Tuesday, depressed by an unexpectedly large slide in economic sentiment in the euro area to a 40-month low of 102.7 in July. That’s down from 105.2 just two months earlier and 111.2 a year ago. Germany’s economic sentiment slumped 2.4 points between June and July. Two big factors are sapping the […] More

Holidays and Waiting for the FOMC Rate Announcement

May 1, 2019

Many centers are closed for May Day/Labour Day observances, including China, Hong Kong, Indonesia, Germany, France, Italy, Switzerland, Spain, Greece, South Africa, Mexico, Brazil, Norway, Taiwan, Malaysia, Vietnam, the Philippines, and Thailand. Japan’s Golden week continues with today’s accession of Naruhito as emperor, and India’s Maharashtra Day has been marred by vandalism in which fire […] More

More Brexit Confusion, Brighter Data, and an FOMC Meeting

March 19, 2019

The dollar stayed in neutral gear overnight, dipping 0.1% against the euro, sterling, and kiwi, holding flat relative to the yen, yuan and Swiss franc, and nudging up 0.1% vis-a-vis the Aussie dollar. Slightly bigger dollar dips occurred of 0.4% relative to the loonie and 0.2% versus the Mexican peso. Asian stock markets likewise didn’t […] More

Awaiting FOMC Minutes and Assessing Data Out Earlier Today

February 20, 2019

The FOMC meeting in late January looms as an important inflection point in U.S. monetary policy. The statement released at that time deleted forward guidance that further increases in the target interest rate would be consistent with achieving the Fed’s mandates, instead spoke of patience while determining any future moves, and hinted at changes in […] More

Brexit Mess, An FOMC Announcement, and Some Weak Data Reports

January 30, 2019

Last night’s British parliamentary votes produced an ill-advised win for Prime Minister May, rejecting a no-deal option or a second referendum in favor of authorization for the prime minister to attempt a renegotiation of parts of her agreement with the rest of the EU. Those governments have repeatedly ruled out renegotiation, so a no-deal Brexit […] More

Political Fireworks but Markets Calm, Awaiting FOMC Announcement

November 8, 2018

U.S. Attorney General Sessions is out and will be replaced by someone critical of the Mueller investigation. President Trump wasted little time adopting a very confrontational stance to the Democratic majority in the House. The FOMC is not expected to hike interest rates today. No press conference is scheduled, but expectations are widespread that there […] More

Marking Time Ahead of Likely FOMC Rate Hike Later Today and Kavanaugh Hearing Tomorrow

September 26, 2018

The FOMC policy announcement today at 14:00 EDT (18:00 GMT) is expected to justify another 25-basis point rate hike now and to leave in play a possible fourth move this year in December. New forecasts will be unveiled, and Chairman Powell will preside over a press conference starting at 14:30 EDT to explain the latest […] More

Assessing July Factory PMIs and Awaiting FOMC Statement

August 1, 2018

A parade of more than twenty purchasing manufacturing indices released today showed weaker July than June conditions by a ratio of five to one. Today’s FOMC decision is neither expected to entail an interest rate change nor any back-down of resolve following President Trump’s criticism that the Fed has been too quick to raise interest […] More

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