OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: FOMC not expected to change pace of QE - BTMU

FXstreet.com (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ note that the FOMC concludes its two day meeting tonight and will release its revised economic forecasts as well.

He writes, “The FOMC’s tone should suggest that there will not be any imminent changes to the pace of QE, and we do not expect any huge deviations from the previous economic forecasts. The stronger than expected labour market may result in modest downward revisions to their unemployment rate forecasts, although the sequester government spending cuts could modestly lead to a downgrade to their GDP projection for this year. Any signal that the FOMC is moving closer to tapering the pace of asset purchases will help to support the strengthening US dollar.”

Forex Flash: South Korean Q1 GDP looks stronger than Q4 - Nomura

Nomura economist Young Sun Kwon is expecting a modest improvement in growth and he sees no immediate need for a supplementary budget. Nevertheless, should it come, he feels that it would support GDP growth and therefore reduce the need for a rate cut.
Read more Previous

Forex: USD/CHF drop supported by 0.9450

After retesting resistance at 0.9480 on the European opening, the USD/CHF eased across the chart to 0.9450 low. The pair still trades below the opening price (0.9468), quoting close to 0.9460 (-0.10% on the day).
Read more Next
Start livechat