China Telecom and banking shares seem to be supporting the market, ... But I'm stumped, there's no reason for banking shares to be chased ahead of an FOMC meeting.
Quotes about fomc (15 Quotes)
There is a strong wait-and-see mode ahead of key economic events in the US, including tomorrow's GDP release and next week's FOMC meeting. This weighed on the euro despite a supportive strong German IFO survey.
We won't see big moves today in anticipation of the FOMC statement. The risk is out there that the Fed could be a bit more hawkish... We still expect the Fed to continue its measured interest rate hikes until the end of the year,
There's only 15 days to FOMC (Federal Open Market Committee). We're going to get jitters ahead of that.
The growth stocks will remain on an uptrend, but some people took to the sidelines ahead of the FOMC.
While our inflation gauge and most national inflation indicators point to somewhat lower inflationary pressures ahead, I expect the Federal Reserve Open Market Committee to raise interest rates at its next meeting on Jan. 31. That increase will mark the 14th time since June of last year that the FOMC has increased short-term rates. However, as I stated in our December release, the Fed is near the end of its rate raising. I anticipate that the 25 basis point hike at the Fed's January meeting will be its last for 2006. Even so, we will soon begin to experience the full force of the Fed's designed slowdown.
With the FOMC meeting tomorrow the market is hardly going to care too much for the U.S. data today.
The markets are going to be a bit uncertain as to how to react, given that the Fed is waiting in the wings, ... They are all going to be looking ahead toward the FOMC meeting to see what the Fed's verdict is on the data rather than reacting as it comes out. They'll be sort of holding their breath.
The most provocative interpretation (of this change) is that market participants anticipated that the Committee was going to become more democratic once Greenspan departed, and hence began to pay more attention to the comments by other FOMC members.
It (the FOMC minutes) makes the probability of more tightening ahead that much greater.
The market's positive outlook for the Japanese economy continues to support the yen as it hit a two-month peak against the dollar, ... Technical factors continue to play a determining role in the behavior of the foreign exchange market as traders await next week's FOMC meeting. Despite recent encouraging euro-zone economic data, the euro is trading at a two-week low against the U. S. dollar.
The slump in stock prices and bond yields points to weaker economy ahead. An easier monetary policy will help the economy stay on an even keel as consumers and businesses adjust to a weaker outlook ... We think the FOMC will see the wisdom of acting early.
The wake of Hurricane Katrina seems set to keep traders on edge ... and once again a break higher seems unlikely unless we see a change of tune from the FOMC (Federal Open Market Committee) with regard to monetary policy. Friday's Michigan sentiment figure may yet hold a degree of concern. Some forecasts are putting this number as low as 82 and so long as high fuel prices are with us, action may be required to ensure that domestic expansion can be maintained as we move towards the year end.
As long as average job creation remains around or exceeds 200,000 and the unemployment rate continues to decline, the FOMC will continue to raise interest rates.
But as the FOMC minutes also indicated that that the US economy still needs additional rate hikes ahead, interest rate differentials will continue to support the greenback.