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FOMC minutes in focus - TD Securities

FXStreet (Łódź) - Paul Fage, Senior Emerging Markets Strategist at TD Securities suggests that market attention will focus today on the minutes from the Fed's last policy meeting, as they might contain clues as to when will the first rate hike come and provide an insight on other issues.

Key quotes

"Minutes from the September 16-17 FOMC meeting will come into focus today with the market attempting to gauge the Fed’s thinking on a few key points."

"Markets will be interested to see the extent of hawkish dissent on the 'considerable time' reference, assess the firmness of views on reinvestment policy, and tease out whether newly-imposed limits on the O/N RRP program remain when the program exits the testing phase."

"Just before the minutes, the market is likely to focus on the $21B 10yr note reopening. While recent risk-off flows should help bolster auction demand, recent averages suggest caution, hinting at a 0.6bp tail."

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