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29 Jul 2015
Another view of today’s FOMC meeting points to a neutral tone - BTMU
FXStreet (Edinburgh) - In the opinion of Derek Halpenny, European Head of GMR at BTMU, the tone at today’s FOMC meeting could be neutral, with scarce market reaction.
Key Quotes
“With key wage data on Friday (ECI) and two further non-farm payrolls reports before the meeting in September, a signal in the statement today is very unlikely”.
“The only area for potential change in the statement today will be the opening paragraph covering the description of the economy”.
“There may be some justification in providing a more upbeat assessment of consumer spending and the housing market”.
“In addition, the view in June that energy prices have stabilised will need altering. But by and large the changes will be minor and hence financial market reaction is also likely to be relatively subdued”.
Key Quotes
“With key wage data on Friday (ECI) and two further non-farm payrolls reports before the meeting in September, a signal in the statement today is very unlikely”.
“The only area for potential change in the statement today will be the opening paragraph covering the description of the economy”.
“There may be some justification in providing a more upbeat assessment of consumer spending and the housing market”.
“In addition, the view in June that energy prices have stabilised will need altering. But by and large the changes will be minor and hence financial market reaction is also likely to be relatively subdued”.