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Nov 21 - 12:55 PM

USD: Expecting USD Dips To Find Support Into Around This Week's FOMC Minutes - ING

By eFXdata  —  Nov 21 - 11:45 AM

ING Research discusses the USD outlook around this week's FOMC minutes from the November-2nd meeting.

"For the Federal Reserve story, Wednesday will see the release of the minutes of the 2 November FOMC meeting. At the time, we felt that it was still a reasonably hawkish meeting - although the Fed clearly wanted to shift the narrative from the size of rate hikes to the terminal rate," ING notes. 

"The minutes could pose a risk that the current dollar correction extends - especially since we will be faced with thin markets later this week as the US celebrates the Thanksgiving public holiday on Thursday. But assuming there are no big surprises - e.g. 'many participants wanting to take stock of the tightening undertaken so far', we would expect the dollar to find support on dips," ING adds. 

ING Research/Market Commentary


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