•
FOMC stays pat
– Its view of
the US economy, including labor market, improved
– But it
thought it might take longer for inflation to come back to 2%
– No change
in tightening bias = USD-supportive
•
RBNZ turns dovish
– Switches
from tightening bias to neutral with the possibility that the next move in
rates is lower
– Worried
about downside risks to economy, still complaining about the strength of NZD
– Watch for
next week’s RBA meeting
•
Greek problems still can roil EUR more
– Greek
stocks down 9% yesterday, 3-year bond yields up 275 bps
– Next
pressure point is Feb. 5th, when Parliament reconvenes
•
Today:
– Eurozone: German CPI
for January should slip into deflation = Eur-negative; Eurozone M3 money supply
– US: Weekly
jobless claims, pending home sales
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