17 Feb 2016
FOMC Minutes is the data ‘highlight’ - SocGen
Kit Juckes, Research Analyst at Societe Generale, suggests that today we get US Housing starts, PPI, industrial production, and the FOMC Minutes from Jan 26-27 which is probably the data ‘highlight’.
Key Quotes
“We’re looking for a 3.6% bounce in housing starts, and a 0.4% bounce in industrial production. The Minutes may reveal any bias to the Fed’s economic outlook that may in turn fed through to a market whose expectations of Fed policy have shifted dramatically since the turn of the year. I’m not sure though, that the market can get much more downbeat in its US economic view, or indeed, much more downbeat in its view of where Fed Funds are headed, so I doubt there’s anything here to hurt the dollar.”
Key Quotes
“We’re looking for a 3.6% bounce in housing starts, and a 0.4% bounce in industrial production. The Minutes may reveal any bias to the Fed’s economic outlook that may in turn fed through to a market whose expectations of Fed policy have shifted dramatically since the turn of the year. I’m not sure though, that the market can get much more downbeat in its US economic view, or indeed, much more downbeat in its view of where Fed Funds are headed, so I doubt there’s anything here to hurt the dollar.”