OctaFX | OctaFX Forex Broker
Open trading account
Back

US Data – TD Securities

FXstreet.com (London) - Marcin Budkiewicz ,Strategist, Rates and FX Research, TD Securities notes that the only datapoint today will be existing home sales for April, where our -0.2% forecast is softer than the +1.2% that markets are looking for.

However, TD Securities teams explain that more important today will be the Fedspeak, with Bernanke’s semi-annual testimony at 3pm and the FOMC minutes from 1 May at 7pm (London time for both).

Adding, that given the particular emphasis of its symmetric policy bias in the last FOMC statement, which was a sharp reversal of the tone of the previous meeting (when the focus was on pivoting towards an exit from asset purchases), the market will be looking for evidence that the Fed’s concern about the weakening economic outlook has shifted the focus sufficiently away for near-term tapering. Their expectation is for the tone of the Minutes and the Chairman's remarks to remain dovish, reinforcing the symmetric policy bias.

SNB's Jordan: Franc cap shift not excluded

In his speech before the Press Club in Frankfurt on Tuesday the head of the Swiss National Bank, Thomas Jordan assured that the current franc cap of 1.20 per euro would be maintained for as long as necessary in the face of low inflation and growth. Nevertheless, he added that an adjustment of the EUR/CHF floor and negative interest rates were not excluded as means of defending the franc cap.
Read more Previous

European equities fall across the board Wednesday

The European stock market was negative across the board Wednesday, with many investors anxiously awaiting the FOMC minutes during the later session today. Economic data has been highly subdued this week – however, in the EMU, the Current Account s.a came in at €25.9B in March, against expectations of only €15.0B. In addition, the Current Account n.s.a has yielded a figure of €24.8B, which marks an improvement from €11.5B previously.
Read more Next
Start livechat