Markets look to FOMC members for guidance

Yesterday’s markets

20th October 2015

  • FOMC Member Brainard Speaks
  • CAD Federal Election
  • US Treasury Currency Report
  • AUD Monetary Policy Meeting Minutes

Concerns about the Chinese economy and speculation over when the Fed will start to hike rates will continue to dominate market headlines this week. Yesterday’s relatively poor Chinese figures has failed to alter the ongoing speculation of further easing from the PBOC, as GDP remained below the key 7% mark and industrial production failed to meet economist’s consensus.

The Dollar on the other hand will be predominantly effected by FOMC speakers as the US economic docket is relatively light until next week’s rate decision. Given the backdrop of a light US data calendar and with the October 28 policy decision coming into view, remarks by Fed President Dudley is likely to attract considerable attention this afternoon.

Today’s markets

19th October 2015

  • CHF Trade Balance
  • UK MPC Member McCafferty Speaks
  • BoE Gov Carney Speaks
  • US Building Permits
  • US Housing Starts
  • FOMC Member Dudley Speaks
  • FOMC Member Powell Speaks

Most of the focus will be on the speaking engagements that BoE Gov Carney and FOMC Chair Yellen are due to deliver. Carney is due to testify on the Bank of England Bill before the Treasury Select Committee, in London. Meanwhile, Yellen is due to deliver brief remarks at the Labor Hall of Honor Induction Ceremony, in Washington DC. As heads of their respective central banks the market will been keen to decipher their commentary.