10 Jul 2013
Flash: FOMC minutes coming up - BBH
FXstreet.com (London) - The Global Currency Strategy Team at BBH said the highlights of the North American session are the FOMC minutes and Bernanke's speech on the economic policy.
They explained that the Chairman's speech is a couple of hours after the FOMC minutes and will begin just after the close of the equity markets. “The FOMC minutes are likely to be seen as hawkish insofar as the broad exit strategy was discussed and Bernanke's press conference afterwards seemed to lay out a rough time frame”. They said it was in subsequent remarks that officials tried to clarify the signal and reiterate that reduced purchases is not the same as tightening.
They explained that the Chairman's speech is a couple of hours after the FOMC minutes and will begin just after the close of the equity markets. “The FOMC minutes are likely to be seen as hawkish insofar as the broad exit strategy was discussed and Bernanke's press conference afterwards seemed to lay out a rough time frame”. They said it was in subsequent remarks that officials tried to clarify the signal and reiterate that reduced purchases is not the same as tightening.