The $ and Fed funds remains flat on the day despite somewhat hawkish comments from Lockhart, and in particular putting November on the table.. though the market realistically has Nov priced fairly at 10% given a hike here wouldnt make much sense vs Dec. Fed Powell on the otherhand was much more neutral, offering little but more uncertainty/ data dependency rhetoric.
Fundamental view for USD remains selling on rallies vs EUR and GBP, US GDP was slightly more firm that expected at 1.4% -- tomorrows UK GDP will be interesting.. a big hit or miss will likely cause some Sterling buying/ selling whilst a EUR CPI/ Emp hit or miss will do the same.
Fed Lockhart:
Lockhart: Question of 'When, Not If' Fed Raises Rates Again DJ News
Lockhart: 'Comfortable' Conditions Are Appropriate for Move 'In One Of the Coming Meetings'
Lockhart: November Is a 'Live Meeting'
Fed Powell:
Fed's Powell: Support Current Rate Path
Powell: We Can Continue To Be Patient
Powell: Economy Is In Solid Shape, Continues To Gradually Improve
Powell: Correct Path Going Forward Is Gradual Increases
Powell: Rate Path Will All Depend On Economy Continuing To Perform Well
Fed's Powell Calls Gradual Increases the 'Correct Path' for Interest Rates
Fed's Powell Calls Gradual Increases the 'Correct Path' for Rates
Fundamental view for USD remains selling on rallies vs EUR and GBP, US GDP was slightly more firm that expected at 1.4% -- tomorrows UK GDP will be interesting.. a big hit or miss will likely cause some Sterling buying/ selling whilst a EUR CPI/ Emp hit or miss will do the same.
Fed Lockhart:
Lockhart: Question of 'When, Not If' Fed Raises Rates Again DJ News
Lockhart: 'Comfortable' Conditions Are Appropriate for Move 'In One Of the Coming Meetings'
Lockhart: November Is a 'Live Meeting'
Fed Powell:
Fed's Powell: Support Current Rate Path
Powell: We Can Continue To Be Patient
Powell: Economy Is In Solid Shape, Continues To Gradually Improve
Powell: Correct Path Going Forward Is Gradual Increases
Powell: Rate Path Will All Depend On Economy Continuing To Perform Well
Fed's Powell Calls Gradual Increases the 'Correct Path' for Interest Rates
Fed's Powell Calls Gradual Increases the 'Correct Path' for Rates