What are we left with, after the FED June meeting?
Skerdian Meta • 1 min read
The FED meeting for June was held yesterday. The market was all worked up for a surprise but there´s no surprise from the FED chairwoman Yellen, ever, particularly on the hawkish side, she´s not that type of person. The market was prepared for both scenarios, dovish and hawkish. The dovish scenario would be over-emphasizing the negative impact that Brexit would have on the Brittish and Eurozone economy and consequently on the global and the US economy. The disappointing employment numbers for May would also be part of the dovish scenario.
EUR/USD is little changed this morning
The hawkish scenario would include the improvement of the global economy and most of the sectors of the US economy and the pickup in the oil prices. Well, the FED and particularly Yellen hate being on either extreme points. So, they decided to be both hawkish and bearish, or neither hawkish or bearish if it makes more sense. They cautiously recognized the positive aspects of the domestic and global economies but also highlighted the Brexit worries and the miss in the employment numbers for May. The US Dollar had a little wobble but is left unchanged apart from USD/JPY which has taken a dive.