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Nov 23 - 12:55 PM

USD: All Eyes On FOMC Minutes - ING

By eFXdata  —  Nov 23 - 11:00 AM

ING Research discusses its expectations for today's FOMC minutes from the November meeting.

"Today, all eyes are on the FOMC minutes, the big risk event before a quieter rest of the week as the US enters the Thanksgiving holiday break. Investors will scan the minutes for indications that the “higher for longer” plan is linked to short-term dynamics in CPI releases. Expect another rally in risk assets should the minutes provide hints of conditionality of Powell’s post-meeting hawkishness to a prolonged stickiness in inflation readings, which markets are now more convinced will not materialise after the latest CPI reading," ING notes. 

"In the absence of such hints, there may not be much for risk bulls to cling on to, given that the November meeting was still a largely hawkish one and the post-meeting (and also post-CPI) Fedspeak has been rather cautious on a dovish pivot," ING adds. 

Source:
ING Research/Market Commentary

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