November FOMC: Last quiet meeting - TD Securities

Eren Sengezer FXStreet

"Fed officials met for the last FOMC meeting that won't be followed by a press conference. They didn't say much that was new: a slightly less optimistic assessment of business investment but still strong consumer spending and job gains," note TD Securities analysts.

Key quotes

"Risks remain "roughly balanced," keeping the Fed on track for another rate hike in December, in our view."

"Rates: With only marginal changes at the November statement, markets will continue to look toward election implications and equity sentiment for direction in the near-term. We continue to expect yields to drift lower from current levels."

"FX: Though the USD popped higher post-statement, it appears related to a WSJ article on OPEC. Going forward we expect FX to be in a holding pattern until a fresh catalyst emerges."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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