FOMC Minutes Preview: The Risk Is Of A “Less Hawkish” Tilt

The FOMC September meeting minutes will be published on 17 October 2018 at 2pm ET, when the Fed hiked by 25bps and removed the “accommodative” language, which was initially seen as dovish, but subsequent hawkish comments by Fed Chair Powell, according to which the Fed could “overshoot” the neutral rate, which is still “far away” spooked interest rates and prompted a spike in the 10Y yield. As such, Nomura’s Darren Shames believes that “…the risk is that the minutes give a less “hawkish” impression than some of Powell’s (and several other Fed members) recent remarks.” Read @


If you thought Greece’s ordeal was over, think again. Months after exiting its international rescue program, the country faces renewed trouble in its banking system. There is no easy fix: money is short and investor patience thin. But it looks increasingly like the gradual approach pursued by Athens and the euro zone authorities is running out of steam. Lenders still bear the scars of a decade of economic crisis. Borrowers are failing to meet payments on almost half of all loans, the highest ratio in the euro zone. A large proportion of banks’ capital is made of so-called “deferred tax assets” – future tax deductions accrued because of past losses – about which investors are skeptical. Read @


Short term the USD seem to be strong but on the big picture USD is preparing for a correction. Price have reached a double top and there should be a pullback today and tomorrow. Fresh news awaits for any further upward movement. We maintain cautious but await for a good sell.


  1. 8.30am – Australia release their unemployment and the data is all good.
  2. 8.30am – BOJ Kuroda speaks and it looks like they are maintaining their policy unchanged. JPY continues to weaken.
  3. 2.00pm – Germany will release their WPI – It’s a leading indicator of consumer inflation – when wholesalers charge more for goods and services the higher costs are usually passed on to the consumer; little or no movement.
  4. 4.30pm – UK will release their retail sales and is expected to be good – we Buy GBP. Join us for the WEBINAR by clicking this link –
  5. 8.30pm – Canada will release their employment data and is expected to weaken further.
  6. 8.30pm – US will release their Philly Manufacturing data – expected to be weak.

The market is still fragile and President Donald Trump is feeling nervous over the FED rate hike as it will Jeopardise the “MAKE AMERICA AGAIN” campaign as the borrowing cost will be expensive and trade – export will not be competitive as the USD will be too strong.


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