The market is demanding a rate rise and the Fed better deliver it today, for if it doesn’t the bank’s credibly will be severely damaged. There is really no excuse not to do so. For the euro/U.S. dollar (EUR/USD) currency pair, a hawkish Fed hike could mean the breakdown of the 1.05 handle at the umpteenth time of asking.
The International Energy Agency agrees with my assessment that the historic OPEC/non-OPEC agreement will put us into a supply deficit early next year and will start to work off the global oil glut. We are on the road to rising demand and lower global production and so, ultimately higher oil prices.
The dollar dipped against the euro and a basket of currencies on Monday, an oil-driven rise in inflation expectations not enough to push on its broader rally as traders worried about the outcome of Wednesday's Federal Reserve policy meeting.
Republican lawmakers and the Federal Reserve may be ready to strike a compromise deal on legislation that would give Congress greater scrutiny over the central bank, now that there is no longer the threat of a presidential veto, but it would likely stop short of dictating rules on setting interest rates.
The Federal Reserve inaugurates the Trump era this week with a near-certain interest rate increase and new economic forecasts providing a first glimpse into whether the U.S. election has reshaped the central bank's growth and inflation outlook.
Crude oil prices surged to their highest since mid-2015 and U.S. Treasury yields hit a more than two-year peak on Monday after the world's top crude producers agreed to the first joint output cut since 2001.
The U.S. election of Donald Trump has created "considerable" uncertainty over the policies he will pursue so it is too soon for the Federal Reserve to judge whether its plan for gradual interest rate hikes needs adjusting, one of the most influential Fed policymakers said on Monday.
A centrist Federal Reserve president on Wednesday said he backed an interest rate hike "in the near future," adding to the very high odds that the U.S. central bank will tighten monetary policy next month.