1. Hello Guest Click here to check FX Binary Point Financial Directory

US: Good enough for a December rate hike - ING

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Delhi) – Rob Carnell, Chief International Economist at ING, suggests that after the US retail sales for November, the November CPI release, are perhaps the only data point ahead of the 16 Dec FOMC meeting that could, if atrocious, have caused a re-think about what is looking like a probable 25bp hike.”

    Key Quotes

    “With a 0.2%MoM headline sales increase, but stronger than expected core series (0.4% ex autos, 0.5% ex autos and gas, and 0.6%MoM for the control group), it is clearly far from atrocious.”

    “Markets are already pricing in a very high chance of a hike at this week’s meeting, so we anticipate that impacts on the USD, and bond yields will be minor, even though the result was on balance a little better than expected. But it was given an extra nudge in the same direction by slightly stronger November PPI data (0.3%mom for final demand goods), perhaps an indicator of what we might expect at next week’s CPI release too.”
    For more information, read our latest forex news.

Share This Page