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22 May 2014
FOMC minutes were largely ignored by markets – Danske Bank
FXStreet (Edinburgh) -According to Chief Analyst Kasper Kirkegaard at Dasnke Bank, traders, in line with previous consensus, largely bypassed yesterday’s FOMC minutes.
Key Quotes
“The FOMC minutes brought little news and the market reaction was pretty limited. Following the latest decline in US rates, they are now in the low end of their range and the downside is more limited”.
“On the other side of the Atlantic, however, the FOMC minutes from the April meeting showed no significant changes compared to the previous statement and Janet Yellen was also relatively dovish in her speech”.
“Although the US recovery seems to gather pace, it will probably take some time before the Fed is ready to change its communication”.
Key Quotes
“The FOMC minutes brought little news and the market reaction was pretty limited. Following the latest decline in US rates, they are now in the low end of their range and the downside is more limited”.
“On the other side of the Atlantic, however, the FOMC minutes from the April meeting showed no significant changes compared to the previous statement and Janet Yellen was also relatively dovish in her speech”.
“Although the US recovery seems to gather pace, it will probably take some time before the Fed is ready to change its communication”.