wrapper

Fed moves closer to rate hike

Wednesday, Jul 29 2015
Federal Reserve policy makers said the labor market and housing have improved, moving closer to ending an unprecedented period of near-zero interest rates without providing a clear signal on the timing of liftoff.
 
“The labor market continued to improve, with solid job gains and declining unemployment,” the Federal Open Market Committee said in a statement Wednesday in Washington. It said that “underutilization of labor resources has diminished,” dropping to modifier “somewhat” to describe the change. “The housing sector has shown additional improvement,” the Fed said. “Business fixed investment and net exports stayed soft.” It dropped language saying energy prices appeared to have stabilized.
 
It said that it will tighten policy when it sees “some further improvement in the labor market,” adding the modifier “some,” and is “reasonably confident” inflation will move back to its 2 percent goal over the medium term. The committee has kept the benchmark overnight federal funds rate at a record low of zero to 0.25 percent since December 2008, in the midst of the worst recession since the Great Depression.
 
After the statement USD was pushed higher. Sterling is currently being traded few points above 1.56 level, euro is around 1.10 area, while Aussie is below 0.73 handle. 
More in this category: « Pending Home Sales fell 1.8% Building Approvals down by 8.2% in June »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.