Soft data favours cautious FOMC - ANZ

FXStreet (Bali) - According to the ANZ FX Research Team, the recent soft data in the US should warrant a more cautious FOMC later on Wednesday.

Key Quotes

Since the FOMC last met in mid March, US data have in been mostly soft, confirming the weak start to the year."

"That was acknowledged in the downward revision to the FOMC’s GDP forecasts last month."

"The accompanying statement said economic growth “has moderated somewhat”.

"A material change in that assessment does not seem warranted at today’s meeting."

"If anything, indications for April so far are that data remain sluggish. The statement is expected to be dovish.