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FOMC Minutes preview: Outdated – RBC

FXStreet (Córdoba) - According to analysts from RBC Capital Markets the release of the FOMC minutes will be the key event next week outside of Europe.

Key Quotes:

“The Fed went out of its way to make the October FOMC statement much more hawkish than expected. Beyond this, a handful of committee members (including Yellen and Dudley) have come out since then to echo that sentiment. So it would be a surprise if the Minutes did not reflect a committee that is poised to hike in December barring a negative headline in the next few weeks.”

“Remember, the meeting took place before we received a very strong October payroll report. So the minutes are somewhat stale and we would imagine sentiment amongst the FOMC is even marginally more hawkish now than just a few weeks ago.”

“Surely the mid-200K NFP print will help the committee to pitch a December rate hike (our base case) even more convincingly. On the heels of a stellar October payroll report, a rate increase at the December meeting seems as close to a lock as one is going to get—at this juncture.”

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