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June Fed hike? The data-dependent Federal Open Market Committee (FOMC) is awaiting the NFP

Started by forex4you, Jun 02, 2023, 06:25 am

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June Fed hike? The data-dependent Federal Open Market Committee (FOMC) is awaiting the NFP

The jobs report from the US is due at 1230 GMT / 0830 US Eastern time.

Previews:

Analysts at Bank of Montreal note that the report is important for the June (13 - 14) FOMC meeting:

  • As newly nominated Vice-Chair Jefferson voiced his support for patience,
     but said a pause in June does not rule out future hikes, the market's
    sentiment has swung increasingly in favor of steady policy rates on June
     14th.
  • The realities of data dependence means that what ultimately
    transpires will be a function of Friday's employment data, and CPI
    released on June 13th.
  • With the odds of a 25 bp hike in just under two
    weeks down to 28%, NFP will be pivotal input for any incoming rhetoric
    before the pre-meeting radio silence period begins.


                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: June Fed hike? The data-dependent Federal Open Market Committee (FOMC) is awaiting the NFP

forexlive.com
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