18 Jun 2014
Session Recap: GBP weighed by boE minutes, attention turns to the Fed
FXStreet (Córdoba) - The FX market is going through a transition session as investors wait for the Federal Reserve monetary policy meeting.
The BoE minutes shook the British pound as they weren’t as hawkish as expected, sending the GBP/USD to fresh weekly lows around 1.6930. The EUR/USD on the other hand advanced slightly during the European session and reached a high of 1.3570. The rest of the majors remain nearly flat ahead of the FOMC decision.
The Federal Open Market Committee is expected to reduce the pace of monthly asset purchases by $10 billion to $35 billion and will provide a new set of forecasts for unemployment, inflation, economic growth and the benchmark federal funds rate.
As for other markets, gold was flat at $1271 an ounce, while crude oil was up 0.33% at $106.71 a barrel. European stocks are broadly up for a second day while US futures point to a flat open. US 10-year yields are also up at 2.642%.
Main headlines in Europe:
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
Markets expect a hawkish Fed – Danske Bank
US inflation prepares markets for the Fed - UBS
European stocks advance ahead of BoE, Fed
BoE announces appointment of renminbi clearing bank in London
BoE Minutes: MPC voted 9-0 to keep rates and QE steady
Chinese premier optimistic on China's economic growth
Gold could continue sliding lower
The BoE minutes shook the British pound as they weren’t as hawkish as expected, sending the GBP/USD to fresh weekly lows around 1.6930. The EUR/USD on the other hand advanced slightly during the European session and reached a high of 1.3570. The rest of the majors remain nearly flat ahead of the FOMC decision.
The Federal Open Market Committee is expected to reduce the pace of monthly asset purchases by $10 billion to $35 billion and will provide a new set of forecasts for unemployment, inflation, economic growth and the benchmark federal funds rate.
As for other markets, gold was flat at $1271 an ounce, while crude oil was up 0.33% at $106.71 a barrel. European stocks are broadly up for a second day while US futures point to a flat open. US 10-year yields are also up at 2.642%.
Main headlines in Europe:
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
Markets expect a hawkish Fed – Danske Bank
US inflation prepares markets for the Fed - UBS
European stocks advance ahead of BoE, Fed
BoE announces appointment of renminbi clearing bank in London
BoE Minutes: MPC voted 9-0 to keep rates and QE steady
Chinese premier optimistic on China's economic growth
Gold could continue sliding lower