22 Aug 2013
Flash: EUR/USD waivers as FOMC sends mixed signals – TD Securities
FXstreet.com (New York) - The TD Securities Team analyzes the EUR/USD in relation to the recent FOMC minutes.
Key quotes
“The FOMC minutes read a little more hawkishly than expected and support the impression that September remains a likely starting point for reducing asset purchases. It’s unclear that the minutes provide a strong directional signal for EUR/USD, however.”
“The Fed will likely wait until the last minute—or at least the August NFP report on September 6th—before deciding on any reduction in asset purchases at its next policy meeting 12 days later. The July FOMC minutes suggest that a September start to the tapering asset purchases remains a strong possibility but that still might not translate into a strong directional signal for EUR/USD.”
Key quotes
“The FOMC minutes read a little more hawkishly than expected and support the impression that September remains a likely starting point for reducing asset purchases. It’s unclear that the minutes provide a strong directional signal for EUR/USD, however.”
“The Fed will likely wait until the last minute—or at least the August NFP report on September 6th—before deciding on any reduction in asset purchases at its next policy meeting 12 days later. The July FOMC minutes suggest that a September start to the tapering asset purchases remains a strong possibility but that still might not translate into a strong directional signal for EUR/USD.”