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Fed: In dilemma about the timing of lift-off - BBH

FXStreet (Delhi) – Research Team at BBH, note that the Fed's decision to delay the beginning of the normalization of monetary policy of undermines confidence in when lift-off will actually take place.

Key Quotes

“It is clear that many, like us, having thought September was a likely opportunity, have now pushed lift-off to December, largely skipping the October meeting due to its proximity and the absence of a scheduled press conference.”

“In recent months, the FOMC has recognized that market-based measures of inflation expectations were soft but that survey-based measures were stable. Last week the FOMC singled out the softer break-evens as part of the justification to wait before hiking.”

“Similarly, the Fed seemed to give more weight to international variables that seem warranted. Some, who see the Fed waiting until next year, see year-end market conditions deterring it, but this does not seem like a significant obstacle.”

US home sales and Canadian wholesale trade data in focus - TDS

Ned Rumpeltin, European Head of Currency Strategy at TD Securities, suggests that the week is off to a rather quiet start as markets continue to digest the Fed’s decision last week to wait on raising rates and we have only the US existing home sales and Canadian wholesale trade reports on tap.
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Canada Wholesale Sales (MoM) below forecasts (0.8%) in July: Actual (0%)

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