FED’s statement today seemed to cool down the prospect of a rate hike in June, although not completely ruling it out, central bank talk for we are taking a look at Q3. After yesterday consumer confidence that came in at 95.1 with an expected 102.5, lower growth rate earlier on today at 0.2% QoQ with an expected of 1.0% QoQ, this doesn’t really come as a surprise to me. A lot now depends on non-farm payrolls out in May. I feel it would take some spectacular figures to create the necessary concern of overheating, frankly don’t see that happening. Looking more and more like no hike this June, maybe this September if the Economy picks up again, and as especially Yellen already pointed out, high job creation. In the meantime judging by how the markets have sold the USD it looks like they are changing their minds too. Major currencies especially EUR and GBP showing strong rallies, but also AUD, CAD and JPY are all up against the green back.

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