FOMC coming up, but what is more key this week? - UOB

Ross J Burland FXStreet

Analysts at UOB Group explained that the Fed Reserve begins its two-day FOMC meeting today.

Key Quotes:

"As for international events, we have the G20 Finance ministers meeting currently taking place in Buenos Aires, Argentina and will conclude on Tues (20 Mar).

The greater interest will be on the US and potentially further rise in trade tensions as Bloomberg cited a Washington Post report (19 Mar) that US President Trump is reportedly prepared to slap China with US$60bn in tariffs applied to a range of Chinese products by this Friday (23 Mar), the same day the US steel and aluminum tariffs come into effect. The report cited that several (unnamed) administration officials said Trump was particularly determined to follow through on this specific set of tariffs, as criticism of US-China relations was at the center of his presidential campaign. In another Bloomberg report (19 Mar), an (unnamed) European official said that US Trade Representative Robert Lighthizer, in his negotiations to provide relief from US tariffs on steel and aluminum, countries must meet five conditions which include actively addressing China’s various trade-distorting policies, and cooperating with the US in launching cases against Chinese practices at the WTO."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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