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.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
More View more
Real Time News
  • US House Speaker Nancy Pelosi says that congress is making progress on the #USMCA trade deal $USDCAD $USDMXN
  • Going live in 5 for today's webinar on @IG_US client sentiment Taking a look at $EURUSD today and $USDCAD Join here - https://www.dailyfx.com/webinars/586549347 https://t.co/eaOLnamQGt
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.21% 🇯🇵JPY: 0.03% 🇬🇧GBP: 0.01% 🇨🇭CHF: -0.10% 🇳🇿NZD: -0.10% 🇦🇺AUD: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HB5Rbvy73F
  • Fed's Kashkari: We need to get to fair trade with China, the trick is how
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.23% Wall Street: -0.28% US 500: -0.30% France 40: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/OBd87XSIN2
  • Fed's Mester: -Worth considering standing repo facility $USD $DXY $TNX $XAU
  • Fed's Mester: -Fed is in 'really good spot' following 3 rate cuts -Sees no sign of weakness spreading to wider economy -Sees risks tilted to the downside amid weak business investment -Sees US GDP growth around 2% next year
  • "The Hong Kong issue has the potential to influence the process of the trade talks. China will have to respond … if Trump signs it into law," said one person who is familiar with the trade talks. https://t.co/DNPx94mSUE via @scmpnews
  • $GBPUSD is nearing a re-test of the 1.3000 level while $AUDUSD remains perilously close to the .6700 support. Get your technical analysis from @JStanleyFX here:https://t.co/pk8RId0dpk https://t.co/39EgYnCVvy
  • MN Fed Kashkari: -Not forecasting a recession but there are risks -Housing has responded to rate cuts in last few months
FOMC Minutes From March Show Mixed Emotions for April Hike

FOMC Minutes From March Show Mixed Emotions for April Hike

2016-04-06 20:25:00
Varun Jaitly,

Talking Points:

  • FOMC sees split in members keeping open a chance for a rate hike in April vs more caution
  • FOMC members noted increased strength in housing and labor markets
  • Members debated between caution from external risks versus domestic growth

Having trouble trading in the FX markets?

In the FOMC meeting minutes from March, there was a noticeable disagreement between members as some would like to keep open the possibility for a hike in April, while others prefer more caution. This dissention amongst members is indicative of the many opinions regarding the influence of current economic strength in the US. The Fed once again affirmed the need to be data dependent as they look for a clear path to raising rates. In previous minutes there was also mention of data dependency trumping a timeline, as the Fed tries to shift away from focusing on specific meeting dates.

With regards to global headwinds, Fed members saw global risks warranting policy caution. Despite agreeing that the US has remained resilient in the face of global events, many members believed it is prudent to wait before the next tightening step. Domestic data regarding employment and wage growth was cited as support for the Fed to move forward with normalization. Both the labor and housing market indicated strength to the members. Despite the external concerns, many believed the domestic situation justifies consideration for further withdrawal of accommodation. Net exports were cited in the minutes as one of the few factors currently weighing on US growth.

Inflation expectations for the committee remained in line, as members generally shared their optimism for a return to the target over the medium to long run. Energy prices continued to weigh on inflation growth, despite PCE showing a 1.5 percent price gain over the previous 12 months ending in January. The members’ economic outlook saw noted strength in housing and household spending, with strong car sales continuing. However, despite strength in consumer growth, the business sector saw large decreases in capital expenditures, this was suggested to be due to the current slowdown in net exports.

The recent waves of data, both domestic and external are leading to mixed and increasingly disparate views amongst FOMC members. As some call for more caution, others believe inaction will undermine the Fed’s goals. Moving forward data leading into the April meeting – along with the FOMC deliberation itself – will be important considering the level of debate amongst policy setters and market views.

FOMC Minutes From March Show Mixed Emotions for April Hike

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


News & Analysis at your fingertips.