FXstreet.com (Barcelona) - The minutes from the July 31-August 1 FOMC meeting has been interpreted by Mr. Market as if engaging in a new large-scale asset purchase programme (QE3) is looming ever closer, subject to next US fundamental indicators. According to Danske Bank senior analyst Signe Roed-Frederiksen, the minutes strongly suggest that the FOMC will undertake additional easing at the upcoming September meeting “unless incoming information points to a substantial and sustainable strengthening in the pace of the economic recovery”. Mr. Roed-Frederiksen flags that despite "the run of better than expected US data recently is making QE3 a close call, with the unemployment rate rising to 8.3%, the ISM below 50 and the outlook for growth over the coming two-three quarters subdued, we think the odds remains skewed in favour of QE3 in September."
Forex Flash: FOMC strongly suggest additional easing in Sept - Danske Bank
Wed, Aug 22 2012, 20:48 GMT | FXstreet.com
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Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
