Minneapolis Federal Reserve President Neel Kashkari said the Fed should continue to focus on further progress in the U.S. labor market until inflation pressures emerge. He added that given inflation has been below the Fed's two-percent target rate for more than four years, there appeared no urgency to raise interest rates.
Kashkari is not a voting member on the Fed's rate-setting commmittee until next year, but takes part in deliberations. Most Fed policymakers are backing a rate hike by year's end should the labor market and inflation continue to firm. Kashkari has yet to comment on when he prefers to see a rate increase and has said more patience is less risky than raising the benchmark interest rate too soon.
The USD is on an uptrend on rising expectations that the U.S. Federal Reserve would raise interest rates as early as this year, with markets pricing in about a 70-percent chance of a hike in December. The EUR/USD is testing a support at 1.1015, 76.4% fibo of June-August rise.
Investors await the minutes of the Federal Reserve Open Market Committee's September meeting, scheduled to be released later on Wednesday, as well as U.S. retail sales data on Friday.
Long black candlestick lines on Monday and Tuesday highlights the bearish market structure. The next EUR/USD bears targets are July low at 1.0952 and June low at 1.0912. We are looking to get short on upticks.
Source: GrowthAces.com - Daily Forex Trading Strategies
Kashkari is not a voting member on the Fed's rate-setting commmittee until next year, but takes part in deliberations. Most Fed policymakers are backing a rate hike by year's end should the labor market and inflation continue to firm. Kashkari has yet to comment on when he prefers to see a rate increase and has said more patience is less risky than raising the benchmark interest rate too soon.
The USD is on an uptrend on rising expectations that the U.S. Federal Reserve would raise interest rates as early as this year, with markets pricing in about a 70-percent chance of a hike in December. The EUR/USD is testing a support at 1.1015, 76.4% fibo of June-August rise.
Investors await the minutes of the Federal Reserve Open Market Committee's September meeting, scheduled to be released later on Wednesday, as well as U.S. retail sales data on Friday.
Long black candlestick lines on Monday and Tuesday highlights the bearish market structure. The next EUR/USD bears targets are July low at 1.0952 and June low at 1.0912. We are looking to get short on upticks.
Source: GrowthAces.com - Daily Forex Trading Strategies