June Fed hike? The data-dependent Federal Open Market Committee (FOMC) is awaiting the NFPThe 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 (https://www.forexlive.com/centralbank/june-fed-hike-the-data-dependent-federal-open-market-committee-fomc-is-awaiting-the-nfp-20230601/)
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