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FOMC minutes main point of interest - RBS

FXStreet (Bali) - The release of the FOMC minutes from the 16-17 September meeting is the main point of interest on Wednesday, notes RBS FX Strategy Team.

Key Quotes

"The release of the FOMC minutes from the 16-17 September meeting is the main point of interest tomorrow. However, with Yellen’s post-meeting press conference having already provided her with the opportunity to explain the Fed’s thinking, we do not anticipate any major surprises."

"Of greatest interest will be discussion over the language in the statement, particularly the “considerable time” and “significant underutilization of labor resources” phrases, and any insights concerning the Fed’s preferred timeframe for a possible language change. Any note of concerns around recent USD strength would also be of significance."

"But overall the minutes should broadly reflect what we learned from the new September forecasts – that most members became more optimistic on achieving the Fed's mandates faster. We look for the USD to find a base after some early-week profit taking."

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