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    FOMC holds rates unchanged

    FOMC decided not to change interest rates as market expected. Moreover, the median for 2016 was left unchanged at 0.875% while lowered was for 2017 - from 1,875% to 1,625%. Nevertheless, it’s not a fairly good news for USD as 6 FOMC members see now only 1 rate hike in 2016. Previously only one member was in favour of just one rate hike. 

    Below the key points of FOMC statement:

    • Labor market slowed since April meeting despite economic pickup
    • Expects labor market indicators ’will strengthen’   
    • Repeats that economy to warrant only gradual hikes
    • Spending strengthened, housing continued to improve
    • Market based inflation compensation measures ’declined’
    • Inflation to rise to 2% as oil and import price disinflation fades
    • Pace of labor market improvement has slowed
    • Will closely monitor inflation and global financial conditions

     At 19:30 Janet Yellen starts her press conference. EURUSD goes up towards 1.13.

     

    Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.


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