Trial now
AUSSIE 10-YEAR TECHS

(Z1) Shallow Bounce

USDCAD TECHS

Trend Needle Still Points North

WHITE HOUSE

Biden Losing Support On COVID-19 Strategy: Poll

AUDUSD TECHS

Slide Accelerates

LATAM

Snapshot: USDMXN Set To Post Highest 2021 Close

EURJPY TECHS

Still Looking For Weakness

FED
FED: Q&A continues:
Q: Just global factors, or are yield curve, financial markets factoring into Fed
shift?
- A: Not one factor. About our stance of policy which we see as the appropriate
stance. Overall we've got an economy showing moderate growth. 1.5-1.75% we
believe is accommodative and will support the outlook that we have. The consumer
sector continues strong, low initial claims (has mentioned this a few times
now). Now see more clearly the effect of accommodative policy on consumer
activity : strong durable goods, housing contributing more than it has in a
while, retail sales/PCE today strong.
Q: Are you pushing on a string with weak business investment?
- A: Interest rates are a factor in bus investment, but not the main driver.
What we would like to see to support greater manufacturing activity is a global
recovery. There's a lot of monetary and some fiscal accommodation (not here, but
globally). Resolving trade issues would contribute too.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com