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FOMC minutes coming, watch on - Investec

FXStreet (Delhi) – Research Team at Investec, suggests that in financial markets investors are looking ahead to tonight's October FOMC minutes for more detail on a possible December interest rate hike in the US that is now around two thirds priced into markets.

Key Quotes

“Market pricing for further interest rate rises beyond December is way behind the curve based on the Fed's previous guidance, giving an extra boost to the US Dollar into tonight's minutes and meaning more Dollar demand could be on the way - and that with the Dollar index already back to levels not since 2003.”

“Worth noting the Pound is holding fairly steady against the greenback for now as UK bond yields continue to follow US yields, giving the Pound similar gains in the G7 space as the Dollar.”

FOMC minutes in focus after CPI data fails to lift USD notably - MUFG

Derek Halpenny, European Head of GMR at MUFG, suggests that the DXY index advanced modestly yesterday but is unchanged today as the CPI data for October appeared to back up the need for action from the FOMC at the next meeting on 16th December.
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EUR: Weak wage data backs up ECB concerns - MUFG

Derek Halpenny, European Head of GMR at MUFG, notes that the market certainly seems pretty well positioned for an easing by the ECB on 3rd December and the comments from ECB Executive Board member Praet have been particularly powerful in encouraging the market into positioning for perhaps a larger than expecting easing in the monetary stance.
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