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Fed DJ'ing to a hectic dance-floor - Rabobank

FXStreet (Guatemala) - Analysts at Rabobank noted the background beats to the Fed drum.

Key Quotes:

"Worryingly, the background music the Fed will take its first dance to is vigorous and the dance-floor is crowded. We’ve seen capoeira-like swings in Brazilian markets this year, where matters will be exacerbated by news that President Rousseff will face impeachment in an economy already shrinking 4.5% y-o-y; Russia is still doing an energetic Cossack dance, threatening to bang into others; and China may be quiet in the corner for now but could easily break into another fevered Lion dance via CNY devaluation at any moment (to say nothing of rising default risks in its bond markets or volatile equity markets).

Moreover, while the Fed is going to try for a ‘Slow Slow’ ballroom pace, the ECB is saying ’Quick Quick’ instead.

Yesterday’s flash CPI shocker to the downside at 0.1% m-o-m and just 0.9% y-o-y has raised the ante for the Big Draghi Decision today."

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