#Goodmorning from #IronFX! Here are the #IronFX main points for today by Marshall Gittler: • FOMC minutes surprisingly dovish – Fed Funds rate not likely to rise before first hike – Committee still worried about inflation being too low – Will keep reinvesting maturing MBS until tightening begins • Implication for USD: not likely to get much support from FOMC until the data force its hand – There are dissenters to dovish view, but they’re outnumbered now – FOMC, like the market, is just following the data • ECB not concerned about higher EUR, say two board members • Japan machinery orders collapse – Means investment intentions are questionable – BoJ may have to step in later in the year • Today: – Eurozone: French industrial production, CPI – UK: Monetary Policy Committee meeting, likely to be non-event – US: Weekly jobless claims expected to be unchanged, no big impetus. Watch for Fed Vice Chair Stanley Fischer’s first speech since joining FOMC
Posted on: Thu, 10 Jul 2014 05:54:31 +0000
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