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FOMC as expected; markets extremely volatile during presser.
As for other central bank meetings: within the next 20 hours markets will hear from the BOJ, SNB, Norges Bank, BOE, and SARB.
FOMC meeting instant reaction: Not even a whisper of a pivot yet
Even looking out just until the end of this year, Fed members are projecting another 125bps of rate hikes...
Risk of higher rate hikes send Gold lower; XAU/USD
If the Fed does hike rates and is hawkish at its next meeting, will Gold finally break through 1670, which it has tested numerous times?
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2 Trades to watch after Jackson Hole: EUR/USD, USD/JPY
The US dollar was the clear winner following Jerome Powell's Jackson Hole speech, and Wall Street the clear loser - with rates unlikely to come down any time soon.
Instant insight: Powell “forceful” in fighting inflation at Jackson Hole
Mr. Powell clearly hit a hawkish note, emphasizing the importance of leaving policy tight until inflation was thoroughly licked.
European Open: US inflation and Powell’s Jackson Hole Speech in focus
Jerome Powell will be hoping that inflation data, released just 90 minutes before his Jackson Hole speech, softens as expected.
Jackson Hole preview: Will Powell pull the plug on pivot predictions?
Jerome Powell is likely to lay out a relatively hawkish outlook for monetary policy in our view, prompting traders to start pricing in a 75bps interest rate hike next month as the odds-on scenario...
FOMC recap: Fed delivers 75bps, but Powell throws cold water on hawks
On balance, the Fed chief is coming off as relatively dovish...
FOMC meeting preview: Traders looking for 75bps, Powell’s presser key
If the FOMC does, in fact, opt for a 75bps interest rate hike, Fed Chairman Powell’s accompanying press conference will likely have a bigger market impact than the decision itself...
USD/JPY reaches its highest level since September 1998
Fed chairman Powell’s comments earlier may have sent USD/JPY to its highest level in 24 years, but they also sent the pair reeling later in the day.
FOMC recap: Fed hikes rates 75 bps, dot plots show much more to come!
The Fed statement said that it is “strongly committed to returning inflation to its 2% objective” and that it ”expects the labor market to remain strong”.
FOMC Preview: Could the Committee hike 75bps?
With inflation continuing to increase and the Unemployment Rate at its lowest since February 2020, is it time for the Fed to surprise the markets and hike rates by 75bps?
Jerome Powell reconfirmed, Russia threatens Finland
More of the same with the Fed as Jerome Powell is confirmed for a second term. The yen rallied on geopolitical concerns as Russia threatened Finland over joining NATO.
Powell said it- Not considering 75bps rate hike! Do markets believe him?
Based on today’s price action so far, it doesn’t seem like the markets are taking Powell seriously.
FOMC meeting recap: Was that “Peak Hawkishness” for the Fed?
Traders may look at today’s press conference as marking “peak hawkishness” for the Fed, at least in the short term...
Powell’s comments send yields and USD/JPY to multi-year highs
In Powell’s first comments since the press conference after the FOMC meeting last week, he comes across as extremely hawkish.
FOMC hikes rates 25bps as expected, but statement says more hikes to come!
The FOMC has a plan to raise rates steadily over the course of the year and run off the balance sheet.
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Powell on board with a March hike, AUD/JPY taps YTD high
The Fed Chair told the House Financial Services Committee overnight he is on board with a 25 bps hike in two weeks.
USD/JPY bulls target 116.35 as Powell confirms rate hikes are coming
A war nearly 5,000 miles from Washington DC with minimal direct economic implications on the US will not deter the Fed from raising interest rates this month...
FOMC meeting recap: Flexible statement but hawkish Powell has risk appetite reeling
Fed Chairman Powell used the press conference to refine the central bank’s message, striking a much more hawkish note than the more tepid monetary policy statement... and sending risk assets reeling.
FOMC increases tapering, sees 3 rate hikes in 2022 AND 2023
FOMC members expect inflation for 2021 to be 5.3%, 2.6% for 2022, and 2.3% for 2023
NFP preview: What to expect from the key US jobs report as Fed wavers on taper plan
Traders and economists are looking for 553K net new jobs in Friday’s report, with wages expected rise by 0.4% m/m, in the final NFP report of 2021.
Powell: It’s a good time to retire “transitory” for inflation
Many market participants have seen the inflation as “here to stay”, waiting for the Fed and Powell to play catch-up. And today, Powell finally has!