Wednesday , 6 November 2024
Home Forex The Fed blackout starts at midnight with the Nov FOMC essentially settled
Forex

The Fed blackout starts at midnight with the Nov FOMC essentially settled

The Federal Reserve blackout starts at midnight ET but it looks like it will begin about 12 hours before that with a light calendar of Fed speakers today.

The lone one on the schedule is Boston Fed President Susan Collins speaking in a fireside chat about the Boston Fed’s wide ranging work. I wouldn’t expect market-moving comments there and it looks like the Fed’s work is done with pricing for the November 7 FOMC at 95% for a 25 basis point cut.

I think the final message was sent Monday with the Fed’s Daly saying ‘So far have not seen
anything that would suggest we would not continue to cut rates’ and ‘to get a soft landing accomplished we have to adjust policy rate as inflation falls.’

That’s a strong hint that another 25 bps is coming, with that caveat that next week’s GDP and jobs numbers could be extremely strong. Even then, I could see the Fed waiting until January or March to pause as rates are still at 4.75-5.00%.

This article was written by Adam Button at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Goldman maintains 12 month S&P target at 6300.

Goldman Sachs is saying that they keep its 12 month target for...

AUDUSD falls to lowest level since early August but bounces higher

The AUDUSD fell ahead of the election results and in the process...

EIA weekly US crude oil inventories +2149K vs +1103K expected

Prior was +5474Crude oil inventories +2149K vs +1103K expGasoline inventories +412K vs...

Harris to deliver concession speech at 6 pm ET (Update: might be 4 pm ET)

Harris will deliver a concession speech at 'around' 6 pm ET. Biden...