8 Apr 2015
FOMC minutes should cause USD damage - Westpac
FXStreet (Bali) - The minutes from the 17-18 Mar FOMC meeting should cause some damage to the US Dollar, notes Sean Callow, FX Strategist at Westpac.
Key Quotes
"The minutes from the 17-18 Mar FOMC meeting will be released. This should be a reiteration of the dovish statement and press conference and as such cause some damage to USD. The absence of recently retired hawks Fisher and Plosser should add to the more dovish vibe."
"At the meeting, the Fed downgraded their fed fund projections substantially. Economic growth was also seen to have slowed. Chair Yellen noted during the press conference that incoming Q1 data pointed to softer growth than recent quarters and that growth projections were generally reduced due export weakness. Before the minutes, we will hear from the Fed's Powell and Dudley."
Key Quotes
"The minutes from the 17-18 Mar FOMC meeting will be released. This should be a reiteration of the dovish statement and press conference and as such cause some damage to USD. The absence of recently retired hawks Fisher and Plosser should add to the more dovish vibe."
"At the meeting, the Fed downgraded their fed fund projections substantially. Economic growth was also seen to have slowed. Chair Yellen noted during the press conference that incoming Q1 data pointed to softer growth than recent quarters and that growth projections were generally reduced due export weakness. Before the minutes, we will hear from the Fed's Powell and Dudley."