FED: Gov Kugler: "Prudent" To Hold Rates "For Some Time"
Feb-07 21:40
Gov Kugler (permanent voter, leans dovish) said Friday that rates were likely to be held for "some time" - making her the latest FOMC participant to express little impetus for a cut in the near-term.
- "The cautious and the prudent step is to hold the federal funds rate where it is for some time, given that combination of factors, given that the economy is solid, given the fact that we haven't achieved our 2% target, and given the fact that we may have uncertainties and other factors that may be pushing up inflation or maybe reducing output and growth into the future."
- "We reduced our policy rate 100 basis points through December, but the recent progress on inflation has been slow and uneven, and inflation remains elevated. There is also considerable uncertainty about the economic effects of proposals of new policies." She noted in a Q&A that inflation has recently "firmed a little bit."
- She noted that the January jobs report is "consistent with a healthy labor market that is neither weakening nor showing signs of overheating,"
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
AUD: AUDUSD Recovers From Dip Below 62c, Retail Sales Coming Up
Jan-08 21:22
AUDUSD trended lower through the European morning to a low of 0.6188 as the US dollar continued to strengthen following stronger-than-expected US data on Tuesday. The pair then turned moderately higher after softer ADP employment to finish the day down 0.2% to 0.6218 and one of the better performers in the G10. The USD index is 0.4% higher.
- AUDUSD held above support at 0.6179, December 31 low, yesterday but the trend remains bearish. The pair continues to post lower lows and lower highs. Initial resistance is at 0.6269, 20-day EMA.
- AUDJPY range traded on Wednesday to be flat on the day at 98.48 after a low of 98.05. AUDNZD trended higher through the European/US sessions to be up 0.2% to 1.1083. AUDEUR is unchanged at 0.6026 after a high of 0.6032, while AUDGBP rose 0.7% to 0.5028, back above the key 0.5000 level. GBP was the worst performer in the G10.
- Equities were mixed with the S&P up 0.2%, FTSE +0.1% but Euro stoxx down 0.3%. Oil prices were weaker with Brent down 1.1% to $76.19/bbl. Copper rose 1.8% and iron ore is just above $97/t.
- Today November retail sales and trade data are released. Retail spending is forecast to rise 1.0% m/m after 0.6% the previous month and the trade surplus is expected to narrow slightly.
ASIA: Coming Up In Asian Markets On Thursday
Jan-08 21:10
| 0100GMT | 0900HKT | 1200AEDT | Philippines Nov Trade |
| 0130GMT | 0930HKT | 1230AEDT | China Dec Inflation |
| 0300GMT | 1100HKT | 1400AEDT | Indonesia Dec Consumer Confidence |
| 0800GMT | 1600HKT | 1900AEDT | Taiwan Dec Trade |
ASIA: Coming Up In Asia Pac Markets On Thursday
Jan-08 21:06
| 2330GMT | 0730HKT | 1030AEDT | Japan Nov Labour Earnings |
| 2350GMT | 0750HKT | 1050AEDT | Japan Weekly Investment Flows |
| 0001GMT | 0801HKT | 1101AEDT | UK Dec BRC Shop Price Index |
| 0030GMT | 0830HKT | 1130AEDT | Australia Nov Retail Sales |
| 0030GMT | 0830HKT | 1130AEDT | Australia Nov Trade |
| 0130GMT | 0930HKT | 1230AEDT | China Dec Inflation |
| 0200GMT | 1000HKT | 1300AEDT | Tokyo Dec Office Vacancies |
| 0335GMT | 1135HKT | 1435AEDT | Japan 30yr Bond Sale |
