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Webinar: Fed Holds Rates, Feeds Debate Over a 2016 Hike

Webinar: Fed Holds Rates, Feeds Debate Over a 2016 Hike

John Kicklighter, Chief Strategist

Talking Points:

  • Fed holds its benchmark range at 0.25 to 0.50 percent while its statement keeps speculative language
  • While concern over global risks remained, the Fed stated near-term threats to the economic outlook had eased
  • The market sees essentially a 50-50 chance of a Fed hike in 2016, leaving plenty of risk moving forward

See the DailyFX Analysts' 3Q forecasts for the Dollar, Euro, Pound, Equities and Gold in the DailyFX Trading Guides page.

Watch the recording of John Kicklighter's coverage of the FX market's reaction to the FOMC rate decision. As expected, the world's largest central bank announced no change to its benchmark range - with a median of 0.375 percent - after its two day meeting. However, any hopes for clarity on whether a hike this year is certain or completely off the table would go unfulfilled. The language in the accompanying statement was little changed from the June update that also carried the speculator-favorite forecasts.

Aside the strong employment assessment and tepid inflation outlook (the dual mandate items), the central bank maintained a sense of concern over global risks - though seemingly not pressing. At the same time, it added that the 'near term risks' to the economic outlook had cooled. This would do little to resolve the Dollar's medium-term potential to excise rate moves. Yet, it does maintain a strong contrast to global counterparts that are diving deeper into dovish territory. That may carry far more risk going forward. See how the market reacted to the event and what the trading implications are moving forward in the recording of this webinar.

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