THURSDAY EARLY MORNING FOMC – BE CAUTIOUS AS THE TABLE MAY TURNAROUND IN FAVOR FOR THE USD.
We believe there won’t be much of a difference as the market continues to sell-off the USD.
The Federal Reserve will make subtle, hawkish, changes to its statement next week to confirm what the market now expects: a rate hike is coming in March. The members of the Fed’s interest-rate setting body will want to send “some modest signal” that a rate hike is very likely at the March meeting, said Thomas Simons, a money market economist with Jefferies. Michael Pearce, senior U.S. economist at Capital Economics, agreed, saying the signal of a March rate hike can be small, even just a change in tone. “It doesn’t need to be much,” he said. The Fed doesn’t have to bang its shoe on the table because the market already thinks a hike at the March 20-21 meeting is a done deal, economists said. For the last month, expectation of a March rate hikes “have been a one way bet, with the street grinding expectations higher,” said Pearce. Read More @ https://www.marketwatch.com/story/fed-to-take-a-step-toward-a-march-interest-rate-hike-2018-01-26
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