Today is the start of the two-day FOMC meeting which will provide a decision tomorrow forex rates once the CPI and retail sales data has been released. A 25bp rate hike is fully priced-in so the focus will be on the FOMC policy path moving forward. With only 18bp of hike priced-in for the rest ofthere is plenty of room for fomc hawkish Fed to trigger the outsized bearish USD position race for the door. Wage growth and inflation weakness are behind investors' expectations for a shallow tightening cycle. However, it becomes difficult to forecast further mid-term USD weakness as the Fed quickly tightens policy through reduction of its massive balance sheet. As the market is focused on interest rates, she can quietly tighten without excessive USD strengthening. We remain constructive on Forex against low yielders like JPY and CHF. Elsewhere, BOC Senior Deputy Governor Carolyn Wilkins speech provided a hawkish turn by highlighting the country's solid economic improvement. The comment suggests the BoC has shifted marginally in monetary policy. Other central banks are not expected to bring about many changes. The Swiss National Bank will remain cautious despite easing in political pressure from Europe. The SNB will keep their defensive CHF position through physical intervention and loose monetary policy via negative interest rates. The Bank of Japan will possibly address mounting criticism of extreme policy strategy. The focus will be on the BoJ assessment of economic activity and the communication process for any exit strategy. However, we suspect given the weak incoming domestic data the BoJ will delay providing any real clarity. The less hawkish Reserve Bank of India, recovering trade data and general positive sentiment around risky EM assets will keep INR supported. We remain constructive on EM as political risks fade and developed markets' central banks keep lose monetary policy, solid fundamentals and low interest rates to support EM demand specifically TRY, INR, IDR and ZAR. Finally, we remain bearish on RUB as the Russian central bank is likely to cut 50bp to 8. While the Fed should increase the US rate tomorrow by a quarter point at the FOMC meeting, markets are also expecting some more hints regarding the Fed rate path for which Janet Yellen is going to show her optimism. Any failure to do so will send the precious metal higher but we consider that the Fed will reiterate their verbal intervention and send gold lower. On top of that our underlying view on the yellow metal is bearish. One could argue that the US stock market is at all-time high. Monetary policy remains largely accommodative all over the world. For example, the SNB - which expands continuously its balance sheet - underpins the stock market in particular the US stock market. 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Prior to opening an account with Swissquote, consider your level of experience, investment objectives, assets, income and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not speculate, invest or hedge with capital you cannot afford to lose, that is borrowed or urgently needed or necessary for personal or family subsistence. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. GOLD Monitoring Uptrend Channel, SILVER Selling Pressures Continues, CRUDE OIL Heading Meeting Support At Monday, 19 June Subscribe to Our Newsletter. Download Free Forex Ebooks. General About Us Advertising Disclaimers Contact US. Connect Push Alert Newsletters RSS Feeds Facebook Twitter. Markets Currencies Top Movers Heat Map Pivot Points Pivot Meter Action Bias Volatility. Techical outlook All Fomc Outlook. 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Campaigning over the past week, Donald Trump has painted a bleak and dire picture of black America.
Pictures of the priest published over the weekend also failed to register.
One bid was solicited with 1 received by US Army Contracting Command in Redstone Arsenal, A.