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21 Mar 2016
April still live for a Fed hike - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained that the American dollar end marginally higher the first trading day of the week, underpinned by comments from FED's Williams and Lockhart, both leaving the door open for a hike in April, despite the meeting does not come with a press conference or economic projections.
Key Quotes:
"After the US Federal Reserve offered a dovish surprise last week, investors were pricing in quite a limited possibility for a June rate hike, with most expecting no action until September. The greenback's bearish case developed after the latest FOMC meeting, with the currency plummeting to multi-month lows across the board, and despite latest wording from policy makers, a reversal is far from confirmed.
Early Monday, the EU released its latest current account data, which resulted below market's expectations, by printing a surplus of €25.4B, down from a previously revised €28.6B. In the US, housing data disappointed as Existing Home sales plummeted 7.1% in February, down to a seasonally adjusted annual rate of 5.08M."
Key Quotes:
"After the US Federal Reserve offered a dovish surprise last week, investors were pricing in quite a limited possibility for a June rate hike, with most expecting no action until September. The greenback's bearish case developed after the latest FOMC meeting, with the currency plummeting to multi-month lows across the board, and despite latest wording from policy makers, a reversal is far from confirmed.
Early Monday, the EU released its latest current account data, which resulted below market's expectations, by printing a surplus of €25.4B, down from a previously revised €28.6B. In the US, housing data disappointed as Existing Home sales plummeted 7.1% in February, down to a seasonally adjusted annual rate of 5.08M."