[B]FxGrow Daily Technical Analysis – 14th June, 2017[/B]
[I]By FxGrow Research & Analysis Team[/I]
[B]FOMC: Fundamental and Technical Overview[/B]
Markets is anticipating a definite rate hike with an additional 0.25% to current 1.00%. Currently, odds are at 100%, confirmed by major sources. In case FOMC delivered a rate increase, the question that follows is how will the FOMC’s statement address Inflation and balance sheet.
Job sector is out performing recently but inflation last reported in April shows 2.2%, still on gradual decline last reported on Feb 2017 at 2.7%, not stable at 2% target as U.S Fed sees ultimate.
Beside (Inflation??), Yellen will have to answer for $4.5 trillion balance sheet supporting US Reserve needs with a surplus, far from market requirement. In case the statement kept asset purchasing without a reduction or setting a specific date, this could send a negative shock to market that could limit U.S Dollar gains
Another matter still revolves in mind, Yellen promised three rate hikes for 2017. Once was delivered on March, second is expected …
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