FXStreet (Córdoba) – According to the Research Department at BBVA, the decision on Wednesday from the Brazil Central Bank to leave rates unchanged signaled that the rate will likely remain at the current level for a long time. Key Quotes: “The decision follows the adoption of a more hawkish tone by the monetary authority for some time up to the beginning of this week, when in an unusual comment the President Tombini regarded the IMF’s downward revision of Brazil’s growth forecasts (to -3.5% in 2016 and 0.0% in 2017) as “significant”, changing the previous guidance.”“The Selic rate will likely remain unchanged for some further time. Therefore, after signaling for some time that a monetary tightening was imminent, the Copom ended up focusing on the negative economic and likely also political effects of a further dose of monetary tightening in the actual context and leaving the Selic rate unchanged, as we expected.”“Taking that into account, the most likely is that the Selic rate will be left unchanged at 14.25% for some time going forward. Anyway, by highlighting “external uncertainties” the Copom suggested that the developments in China, commodity and financial markets will be more closely followed from now on, meaning that their evolution could shape future monetary policy decisions.”According to the Research Department at BBVA, the decision on Wednesday from the Brazil Central Bank to leave rates unchanged signaled that the rate will likely remain at the current level for a long time. (Market News Provided by FXstreet)Запись Brazil: Selic rate will likely remain unchanged for some time – BBVA впервые появилась Forex.
FXStreet (Córdoba) – Next week, one of the main events will be the FOMC meeting, the first one after the historic December rate hike. According to analysts from Rabobank, the US central bank will not raise rates until before the June meeting. Key Quotes: “While employment data suggest that the US economy has not lost momentum, the negative impact of the global economy on the manufacturing and mining sectors does show up in GDP data, in particular through business investment, inventories and net trade. In retrospect, the Fed managed to plan its liftoff date in one of the weakest quarters in terms of GDP growth since the US came out of recession in mid-2009.”“Recent developments are not likely to have eased the concerns about the downside risks to inflation that some FOMC members already had at the time of the December hike. This means that it will be more difficult to reach consensus on another hike in the near term. Therefore we do not expect the next hike before the June meeting.”“This month’s meeting does not include an update of the economic projections nor a press conference. Therefore we only have the formal statement to look forward to. The FOMC is likely to acknowledge the substantial slowdown in GDP growth that took place in Q4. Note that the December statement already stressed the importance of monitoring actual and expected progress of inflation toward its 2% target to keep all the doves on board.“While some Fed speakers continue to be complacent, we have our doubts about both the inflation outlook and the pace of the economic recovery, and consequently also about the four rate hikes that the Fed intends to deliver this year. In fact, a few Fed speakers now appear to share our concerns.”Next week, one of the main events will be the FOMC meeting, the first one after the historic December rate hike. According to analysts from Rabobank, the US central bank will not raise rates until before the June meeting. (Market News Provided by FXstreet)Запись FED: Next hike unlikely before June – Rabobank впервые появилась Forex.
OverviewThe short-term bottom is likely to be in place at 163.96, just ahead of the 161.8% projection of 195.86 to 180.36 from 188.79 at 163.71, on bullish convergence condition in the 4-hour MACD. Intraday bias has turned neutral first. Intraday bias…Запись Daily analysis of GBP/JPY for January 22, 2016 впервые появилась Forex.