8 Apr 2015
Fed unlikely to act soon due to poor data releases - BTMU
FXStreet (Guatemala) - Lee Hardman, Currency Analysts at Bank of Tokyo Mitsubishi UFJ, Ltd. explained that the recent weakening of US economic data leaves rate rises unlikely until September.
Key Quotes:
"Particularly the disappointing employment report for March makes it less likely that the Fed will begin to raise rates until at least September at the earliest which also argues in favour of the consolidation phase for USD/JPY extending further in the current quarter."
"We remain of the view that the US economy will begin to rebound but it is unlikely to prompt an earlier rate hike given the Fed’s cautious policy stance. Further evidence was provided yesterday that the recent weakening of US labour market conditions was likely temporary."
"The release of the latest JOLTS report revealed that job openings increased to a fresh cyclical high to 5.133 million in February."
Key Quotes:
"Particularly the disappointing employment report for March makes it less likely that the Fed will begin to raise rates until at least September at the earliest which also argues in favour of the consolidation phase for USD/JPY extending further in the current quarter."
"We remain of the view that the US economy will begin to rebound but it is unlikely to prompt an earlier rate hike given the Fed’s cautious policy stance. Further evidence was provided yesterday that the recent weakening of US labour market conditions was likely temporary."
"The release of the latest JOLTS report revealed that job openings increased to a fresh cyclical high to 5.133 million in February."