Market participants will likely continue to digest the ramifications of the FOMC's decision to leave rates unchanged. Three FOMC members made comments on Saturday:
a) Lacker was the dissenter last week, so his comments in favour of a hike are nothing new.
b) Bullard (voter in 2016) said “I argued against the decision to postpone the hike at the
FOMC meeting”... “FED is ready to go” if conditions warrant it..."was a close call at this
meeting”.
c) Williams (voted against a hike last week) said “was a close call in my mind, in part reflecting the
conflicting signals we're getting”.
Boring day today most likely. Focus on ECB Speakers:
Hansson at 13:00 BST,
Coeure at 13:45,
Nowotny at 17:00,
Praet at 17:30.
Later tonight Atlanta Fed President Lockhart (voter) and Bank of Canada Governor Poloz
speak.
US existing
home sales likely to attract only limited attention.
Definitely not inclined to put on any fresh positions this morning given this dull environment. Will take a look after US data but really don't expect much. Please refer to the Weekly Game Plan for charts/watchlist.
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