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FOMC minutes to be the main event – Danske Bank

FXStreet (Delhi) – Research Team at Danske Bank, suggests that the main event today is the release of the FOMC minutes from the October meeting which is likely to reveal more details on why the Fed flagged a clear tightening bias.

Key Quotes

“The FOMC revealed that it will determine 'whether it will be appropriate to RAISE the target range at its NEXT meeting' (our emphasis). We think that with the strong job report FOMC will consider a hike 'appropriate' but it will be interesting to see what conditions made the FOMC flag a tightening bias before the strong job report. Look for possible details on how the FOMC will proceed next year.”

“Numbers for US housing starts and building permits in October are due today. We expect them to support our overall view that the housing market is improving.”

“The Fed and the ECB continue to be in the spotlight. Several ECB and FOMC members are speaking today and the market will listen to what they may have to say about the upcoming meetings in December.”

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