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30 Jul 2014
FOMC to come and go with little fanfare - RBS
FXStreet (Bali) - The FOMC decision is expected to come and go with little fanfare, notes FX Strategists at RBS.
Key Quotes
"This week’s meeting does not contain a press conference or new forecasts, simply the post-decision statement."
"We anticipate any change in guidance language is more likely to accompany the September decision, which includes a press conference, as the press conference gives the Chair some latitude to explain and contextualize any language changes."
"FX market price action seems to suggest that investors see the risks skewed toward the FOMC sounding more hawkish."
"Commentary from some of the FOMC’s most hawkish members may have increased the risk that a hawkish dissenter emerges, though in that event, we would caution that the opinions of the most hawkish members are unlikely to be echoed by a majority of the committee, especially if not accompanied by a change in the tone of the FOMC statement."
Key Quotes
"This week’s meeting does not contain a press conference or new forecasts, simply the post-decision statement."
"We anticipate any change in guidance language is more likely to accompany the September decision, which includes a press conference, as the press conference gives the Chair some latitude to explain and contextualize any language changes."
"FX market price action seems to suggest that investors see the risks skewed toward the FOMC sounding more hawkish."
"Commentary from some of the FOMC’s most hawkish members may have increased the risk that a hawkish dissenter emerges, though in that event, we would caution that the opinions of the most hawkish members are unlikely to be echoed by a majority of the committee, especially if not accompanied by a change in the tone of the FOMC statement."