FOMC minutes awaited – Danske Bank

Research Team at Danske Bank, suggests that today we get the FOMC minutes from the September meeting.

Key Quotes

“The committee looked very divided at the September meeting with three members voting for an instant hike and three members signalling no hikes in 2016 at all (ten members are signalling one hike). Hence, it will be important to see the discussion they had.

The focus continues to be on Fed communication, as the strong rebound in ISM-figures this week has strengthened the case for a late 2016 hike. Next week will again be heavy regarding Fed communication, with seven different FOMC members scheduled to speak including Fed Chair Yellen speaking on Friday at Boston Fed Conference. Yellen is likely to speak about monetary policy and our focus will be on whether she is more hawkish than at the press conference, where she sounded more dovish than the FOMC statement. Currently markets are pricing a two-third probability of a hike this year.”