OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: Don't be expecting a change in the monthly QE pace at upcoming Fed Meeting – Westpac

FXstreet.com (Barcelona) - The US Dollar Index finished the day sharply lower, closing down 0.54% at 81.72. This was the lowest daily close since Feb 27th, and could lead to further weakness with the Federal Reserve Monetary policy meeting due out in the next US session.

According to Sean Callow, Senior Currency Strategist at Westpac Global Strategy, “The main focus will be the 2pm NY release of the FOMC statement. As activity data has decelerated and inflation readings have softened further than expected, no one should be expecting either a change in the $85bn monthly QE pace ($40bn MBS, $45bn Treasuries) or a hint that the case for tapering QE has grown. KC Fed’s George is likely to dissent again.”

He went on to add, “There is no press conference by Chairman Bernanke after this meeting. Despite what should be low expectations for firm hints in the statement, USD may well be whippy after the release, with a bias to the weak side.”

Forex Flash: USD/CAD modest bounces liable to attract sellers for now - TDS

“No bounce at all in the CAD and the continuing trend lower may extend from a short-term point of view,” note Toronto based FX Research Team at TD Securities, when USD/CAD is last at 1.0070, off fresh 2-month low at 1.0050 in early NY trade, down -0.93% for the week so far.
Read more Previous

Forex: NZD/USD remains in a narrow range, China PMI due out later

The Kiwi closed the day slightly lower, finishing down 3 pips at 0.8561. Economic data out of New Zealand will be quiet in the coming session, but market participants will have an eye on China PMI due out at 1:00 GMT. The pair is currently edging higher during Asia trade, up 7 pips at 0.856.
Read more Next
Start livechat