Fed Speakers Along with BoE and BoC to Take Centre Stage This Week – Rabobank
Fed Speakers Along with BoE and BoC to Take Centre Stage This Week – Rabobank
Jane Foley, Senior FX Strategist at Rabobank, suggests that there are no
key data releases today although scheduled speeches from the Fed’s
Dudley and Kaplan will ensure the outlook for Fed policy remains a prime
focus.
Key Quotes
“Last week Dudley
remarked that he is cautiously optimistic on China though he conceded
that prospects for world growth had diminished. Dudley is an established
Fed dove. Later in the week the Fed’s Williams and Lacker are due to
speak. Like Kaplan, Lacker and Williams are currently non-voting members
of the FOMC. Lacker is considered to be a hawk while more dovish
remarks can be expected from Williams.
The BoE and the BoC will
hold policy meetings later this week and steady policy is expected from
both. Although the BoE’s MPC continues to suggest that the next policy
move is likely to be a hike, the UK money market sees a greater chance
of a cut than a hike into early 2017. The Canadian economy is clearly
undergoing a difficult adjustment on the back of soft energy prices, but
the strong 0.6% m/m rise in January GDP supports the BoC’s cautiously
constructive outlook.”
(Market News Provided by FXstreet)
