"Despite a dovish market reaction to this week’s FOMC statement, the Fed’s message remains focused on data dependency, and our economists continue to believe that conditions will be met for policy tightening to start in September. Accordingly, markets should remain focused on upcoming US economic releases. In the week ahead, a rebound in May core durable goods orders would be encouraging after a downward revision to April data, while the personal income and spending report should ...
The Fed’s June statement and press conference failed to provide a catalyst for renewed USD gains and the currency has weakened in the aftermath of the meeting, notes BNP Paribas. "Market participants seemed to focus on the shift lower in the Fed’s projection for the Fed funds rate, with the average “dot” for end 2015 falling to 57bp from 77bp. In her press conference, Chair Yellen noted that the conditions for justifying policy tightening ...
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