FOMC Minutes and UK employment data amongst market movers today – Danske Bank

Research Team at Danske Bank, suggests that the minutes from the latest FOMC meeting should be very interesting today.

Key Quotes

“The statement from the meeting was a bit more hawkish than expected, with focus on the phrase 'near-term risks to the economic outlook have diminished'. The minutes should give an indication of how high the bar is for a hike. Our forecast is that the next move from the Fed will not be until June 2017 but the risk is skewed towards an earlier hike - not least following the comments from Fed vice chairman Bill Dudley yesterday.

In the UK we estimate labour market data will show a small increase in jobless claims in July, as employment is likely to have taken a hit following the Brexit vote. We see a risk of a weaker number than the consensus estimate of a rise of 9k.”