Fed speakers to have little impact on USD - ING
|According to analysts at ING, two weeks away from the FOMC meeting, markets appear still undecided about the magnitude of the upcoming easing move.
Key Quotes
“Fed Funds futures are showing implied probabilities split 65%/35% in favour of a 25bp cut versus a 50bp cut. The Beige Book report, released yesterday, hinted at trade-related concerns for the US economy.”
“Trade tensions have been the major driver of rate expectations recently after comments by President Trump raised fears of a possible re-escalation. The crowded agenda of Fed speakers thus far in the week appears to have had only a limited impact and we do not expect today’s remarks by Fed members Raphael Bostic and John Williams to prompt much reaction in the market. Elsewhere, a quiet data schedule should reduce pressure on the US dollar.”
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