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CME Group FedWatch's December hike probability edged higher after FOMC minutes

CME Group FedWatch tool, which calculates unconditional probabilities of Federal Open Market Committee (FOMC) meeting outcomes to generate a binary probability tree, shows that the markets are pricing a 46.8% probability of a 25 bps rate hike in December, compared to 42% on Tuesday. Although the minutes from the July (25th & 26th) Federal Reserve’s

GBP/USD perks up after FOMC minutes

Currently, GBP/USD is trading at 1.2876, up 0.06% on the day, having posted a daily high at 1.2905 and low at 1.2842. The dollar is somewhat weaker across the board after the FOMC minutes. Despite the softer-than-expected UK CPI figures yesterday, GBP/USD has moved out of its consolidation to the upside targeting the previous aforementioned

USD/CAD drops to 5-day low as DXY falters post-FOMC minutes

The USD/CAD pair dropped to its lowest level since August 5 at 1.2660 after the FOMC releases its July meeting minutes in the second half of the NA session. After the initial reaction, the pair was able to erase some of its losses and is now trading at 1.2675, losing 0.7% on the day. According to

EUR/USD hits fresh highs after FOMC minutes

EUR/USD moved to the upside after the release of the FOMC minutes. The pair reached a fresh daily high at 1.1763, up less than 25 pips above level it had before  Fed’s document.  The pair still holds a bullish tone as the US dollar weakens across the board. EUR/USD was flat for the day before

FOMC Minutes: Policymakers agreed a fall in longer-term inflation expectations would be undesirable

The minutes from the July (25th & 26th) Federal Reserve’s monetary policy meeting have been published, stating that policymakers agreed a fall in longer-term inflation expectations would be undesirable. Key headlines (via Reuters): Policymakers held wide-ranging debates over inflation outlook, stock prices and financial stability – July 25-26 policy meeting minutes Some policymakers were prepared to

USD/JPY drops to 110.50 on broad dollar weakness ahead of FOMC minutes

Currently, USD/JPY is trading at 110.53, down -0.12% on the day, having posted a daily high at 110.96 and low at 110.46. USD/JPY has dipped lower in a sharp 30 pip drop as the DXY moves lower across the board. However, we now await the FOMC minutes as the next catalyst. U.S. President Trump ends

EUR/JPY: May highs at 125.80 in target

Currently, EUR/JPY is trading at 129.66, down -0.17% on the day, having posted a daily high at 130.42 and low at 129.52. EUR/JPY is down but stabilising while US stocks are mixed ahead of the FOMC minutes in an environment of where the broader tone remains key for JPY given the absence of any meaningful

U.S. President Trump ends Manufacturing Council & Strategy Policy forum

U.S. President Donald Trump has announced via Twitter that he’s ending manufacturing council and strategy policy forum. “Rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both. Thank you all!”, he said. In the FX space, US Dollar turned lower across the board, with USD/JPY

How Brexit is affecting the jobs market? – ING

Analysts at ING Bank explained that the latest jobs numbers were healthier than expected, with wage growth beating expectations. Key Quotes: “We still have our doubts that the rate of pay growth will increase to 3% next year as the Bank of England hopes, amidst elevated uncertainty and slowing economic momentum. You can read more

ECB: Number of credit institutions headquartered in EU decreased to 3,154 in March 2017

According to the Consolidated Banking Data for end-March 2017 released by the ECB: The number of credit institutions headquartered in the EU slightly decreased from 3,167 in December 2016 to 3,154 in March 2017. Total assets of these credit institutions increased by 1.7%, from €33.41 trillion in 2016Q4 to €33.98 trillion in 2017Q1. The end-March 2017

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