News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/SQUCCZ9dzS https://t.co/KD6mfkiCaW
  • What are some technical and fundamental factors affecting the equities market? Get your free forecast here: https://t.co/YQG1aaIT8C #DailyFXGuides https://t.co/TEoSjMpMBo
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/H9fW9ewiQd
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/yLt0ldtMsV
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/ZwwuTzTeac
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/4DGXwA8vqs
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/mAMhWbV6Jy
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/E9ZmJvqO0z
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/fqxw1AoKc1
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here: https://t.co/B3Jct6mIBD https://t.co/xTGIM2hRBv
Fed's Beige Book Points to Optimism with March Rate Decision in Sight

Fed's Beige Book Points to Optimism with March Rate Decision in Sight

Gregory Marks,

Talking Points:

-Fed sees growing economy despite harsh weather, hiring slowed

-Eight out of twelve districts saw an improvement in the economy

-Price pressures remained subdued, stable wage pressures

-Outlook ‘among most districts remained optimistic’

-‘Reports of loan demand and volume were mixed’

-Improvement noted in several areas for residential real estate

The Fed remained optimistic in its March Beige Book released on Wednesday and indicated that pressures on prices had subdued. While many economists have attributed terrible 2014 data thus far on the weather, the Fed has downplayed weakness on a number of occasions. This latest Beige Book, in addition to recent comments from FOMC members, points to an informal, but continuous taper schedule of $10B per meeting.

Last week Chair Yellen indicated that the Fed would likely continue to trim asset purchases, but that at this time there is no official preset course. Yesterday Fed’s Lacker stated that he ‘wouldn’t oppose’ a more rapid pace of tapering and that the hurdle to changing the taper pace would be ‘reasonably high.’

The Beige Book would have been an opportunity for the Fed to highlight recent weakness and prepare markets for a change in the informal tapering schedule. As we did not see that today, relatively upbeat comments in the Beige Book add to a long list of FOMC member comments that point to another taper this March.

2014 FOMC Rate Decision Schedule (18:00 GMT)

March 19

April 30

June 18

July 30

September 17

October 29

December 17 (19:00)

Gregory Marks, DailyFX Research Team

Keep up to date on event risk with the DailyFX Calendar.

How does a Currency War affect your FX trading?

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES