The meeting minutes from the Fed decision succeeded in keeping markets calm. Perhaps too calm. There was no real clear signal from the minutes. The beginning of the balance sheet reduction may come in September or perhaps in December. The same goes for the rate hike, although December is more likely. All in all, the [...]
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The meeting minutes from the June Fed decision, the “hawkish hike”, echoed some of the statement, but also provided hints of a plan. Here is their view, courtesy of eFXnews: CIBC Research comments on today’s FOMC minutes from the June meeting: “We changed our call for the next Fed hike by moving it to December [...]
The post FOMC Minutes: Fed To Announce Start Of Balance Sheet Runoff In Sep; Next Hike In Dec – CIBC appeared first on Forex Crunch.
Benoît Cœuré, a member of the ECB’s executive board, said that so far, a change of policy has not been discussed. This does not sound like earth-shattering news but serves as a setback after Draghi’s Sintra Speech. There, the President of the ECB talked about the need to begin removing stimulus and sounded optimistic in [...]
The post Cœuré Crash: CEUR/USD extends falls on dovish ECB talk appeared first on Forex Crunch.
The third and last purchasing managers’ indicator for the US is the most important one: the services PMI. 79% of the UK economy services. GBP/USD extended its decline, trading around 1.29, which serves as a line of support. Further support awaits at 1.2820, followed by 1.27. Resistance is at 1.2980 and 1.3050. Earlier this week, [...]
The post UK Services PMI at 53.4 – within expectations appeared first on Forex Crunch.
The Japanese yen is a safe haven currency, and its status is reflected in the most recent troubles, originating from North Korea, Japan’s neighbor. The yen is in demand with every deterioration but then sold off when the short attention span shifts elsewhere. The autocratic regime tested an ICBM and the world is worried. It [...]
The post USD/JPY rocks on and rolls on North Korea news appeared first on Forex Crunch.
