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16 Dec 2013
Flash: Eye’s on FOMC - Rabobank
FXstreet.com (London) - Strategists at Rabobank noted that the week ahead will be dominated by the outcome of the December 17/18 FOMC meeting.
Key Quotes:
“Last week’s US retail sales data produced a better than expected 0.7% m/m outcome. Insofar as this followed decent payrolls and retail sales data, the market now sees a tangible risk that the Fed could start to pare back the amount of monetary stimulus being offered”.
“…both US inflation data and industrial production have remained soft. This afternoon the November industrial production report is due. The market is expecting an 0.6% m/m rebound following the soft -0.1% m/m decline”.
“Strength in this report would almost certainly heighten fears that Fed Chairman Bernanke could announce a modest reduction in QE before the end of his term”.
“The US empire manufacturing number and TIC flow data are also due”.
Key Quotes:
“Last week’s US retail sales data produced a better than expected 0.7% m/m outcome. Insofar as this followed decent payrolls and retail sales data, the market now sees a tangible risk that the Fed could start to pare back the amount of monetary stimulus being offered”.
“…both US inflation data and industrial production have remained soft. This afternoon the November industrial production report is due. The market is expecting an 0.6% m/m rebound following the soft -0.1% m/m decline”.
“Strength in this report would almost certainly heighten fears that Fed Chairman Bernanke could announce a modest reduction in QE before the end of his term”.
“The US empire manufacturing number and TIC flow data are also due”.