8 Apr 2015
Key events ahead: Eurozone retail sales, FOMC Minutes – Danske
FXStreet (Barcelona) - Senior Analyst at Danske Bank, Flemming J. Nielsen, previews the key events and data releases ahead in the day, anticipating Eurozone retail sales to decline slightly, and looking forward to note the arguments for the significant revision of fed funds rate path from the FOMC Minutes.
Key Quotes
“Euro area retail sales on the other hand are set to decline slightly in February after a very strong figure in January. However, growth in private consumption is still likely to be strong in Q1 as the decline in the oil price has boosted consumer purchasing power and as consumer confidence has reached its highest level since 2007.”
“The minutes of the 17-18 March FOMC meeting are due for release tonight. The FOMC removed ‘patient’ from its statement, which means the door for a June rate hike is open, but at the same time, it lowered the projection for the fed funds rate path by around 50bp this year and the following two. It will be interesting to see the discussions leading up to this significant revision and the arguments behind the move.”
Key Quotes
“Euro area retail sales on the other hand are set to decline slightly in February after a very strong figure in January. However, growth in private consumption is still likely to be strong in Q1 as the decline in the oil price has boosted consumer purchasing power and as consumer confidence has reached its highest level since 2007.”
“The minutes of the 17-18 March FOMC meeting are due for release tonight. The FOMC removed ‘patient’ from its statement, which means the door for a June rate hike is open, but at the same time, it lowered the projection for the fed funds rate path by around 50bp this year and the following two. It will be interesting to see the discussions leading up to this significant revision and the arguments behind the move.”