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FOMC meeting recap: Dollar dives on “dovish hike”
The Fed has toned down its statement to give it flexibility to pause the interest rate hiking cycle in May depending on incoming economic data
European Open: Dax to open lower, hawkish Powell weighs on sentiment
Due to a false breakout on weak volumes, we suspect the DAX will continue to mean revert against its bullish trend.
Powell puts a 50bps March hike firmly on the radar, GBP/USD tests 2023 lows
According to the CME’s FedWatch tool, investors are now pricing in a 60/40 shot of a 50bps rate hike in two weeks’ time and that rates could peak above 5.5%.
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European Open: All quiet ahead of Powell’s testimony
Market mostly traded in tight ranges ahead of Jerome Powell’s highly anticipated testimony to the House, which has the potential to be a volatile event.
Powell prepares to pontificate to policymakers, AUD/USD tests 0.6700 support
Some officials and Fed watchers have suggested a 50 basis-point move should be on the table if inflation fails to slow...
Two trades to watch: FTSE, Oil
FTSE looks to re-test its all-time high. Oil holds strong gains ahead of EIA inventory data.
Powell continues to be “less hawkish” in Economic Club conversation
One sure thing is that Powell is not the uber hawk he once was and there won’t be any surprise 75bps hikes coming down the line.
Will Powell disappoint dollar die-hards?
Futures markets now tally with many Fed policymakers for the first time this year, accepting the Fed's "terminal rate" will be above 5%...
US open: Futures lack direction ahead of Fed Powell's speech
Futures point to a mixed start as investors look ahead to a keenly awaited speech by Fed Chair Powell. Biden's State of the Union address is also due later.
Two trades to watch: USD/CAD, Gold
USD/CAD falls ahead of speeches from Fed Chair Powell & BoC’s Macklem. Will Gold fall after Powell’s speech?
European Open: Currencies tread water ahead of Jerome Powell speech
The USD pulled back yet mostly held on to its post-NFP gains in anticipation of a hawkish speech from Jerome Powell this evening.
US NFP and potential BoJ successor news send yen reeling
Over the course of the last 2 trading days, USD/JPY has moved from a low of 128.33 to a high of 132.90, a move of 457 pips.
FOMC hikes 25bps, as expected. More rate hikes to come?
Today’s FOMC meeting was uneventful. However, Powell’s press conference which followed provided less hawkish comments for the markets to feast on
FOMC meeting recap: Powell not hawkish enough, traders price in 50bps of cuts by EOY
Fed Funds futures traders are pricing in a full 50bps of interest rate cuts by the end of the year!
Fed meeting preview: The magic show of interest rates, inflation, and growth
The big question on everyone's mind is, will Fed Chairman Powell be able to pull off another successful performance?
US indices drift lower as focus turns to Powell
Investors are growing increasingly confident in their view that the Fed’s tightening cycle will end this quarter, before it starts an easing cycle in the third quarter.
What to make of December’s FOMC meeting?
If markets don’t care about what Powell has to say about interest rates, the next place to turn its attention to may be growth and the outlook for a possible recession in 2023!
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FOMC meeting recap: Powell presser poses more questions than answers
The Fed Chairman isn’t yet willing to entertain a pause in rate hikes or the prospect of rate cuts in 2023, though he continues to emphasize the central bank’s data dependence...
FOMC meeting preview: 50bps hike likely, but will the 2023 dots rise above 5%?
While there seems to be a clear consensus that the central bank should slow its pace of rate hikes, the ultimate question for this week’s meeting will revolve around the so-called “terminal rate,” or how high the Fed will have to push interest rates next year before pausing the rate hike cycle.
Non-farm Payrolls stronger than expected. Does that change the Fed’s plan?
Chances are that Powell and gang stick to the plan and only hike 50bps. However, that’s not to say that they can’t increase rates later if they deem it necessary.
US Core PCE lower in September; USD continues lower
If Core PCE continues to fall over the coming months, the Fed may end up hiking rates less than it expects, or even cutting rates before the end of next year.
S&P digesting market’s (over)reaction to Powell speech
Perhaps the markets were not expecting the Fed Chair to explicitly imply that the FOMC will indeed hike by 50bps in December
Powell's Brooking Institute speech is a dovish version of his November 2nd FOMC press conference
This was the unofficial pivot the markets have been waiting for.