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28 Jan 2015
FXStreet: Analysts fall short in FX expectations – Tip Tv
FXStreet (Barcelona) - In today’s video, FXStreet’s Craig Drake and the Tip Tv Team discuss about today’s FOMC meeting and the US equities earnings season.
Key Quotes
“The main macro event of the day is the FOMC's decision announced at 7pm GMT, but there is unlikely to be anyting within the subsequent statement to move markets. The language of forward guidance will be the main focus, after Fed chairman Janet Yellen shifted from "considerable time" between the winding up of the most recent asset purchase programme and any rate hike and replaced the emphasis with "patience" (though how many months "patience constitutes is still uncertain".)”
“With the continuing US equities earnings season, a common theme has been a so-called "miss on analyst forecasts by US corporations" as a result of a stronger dollar impacting demand for US exports.”
“However, in reality, rather than those companies missing expectations, it is analysts that have failed to anticipate the effects of a stronger dollar and a weaker euro on US earnings.”
Key Quotes
“The main macro event of the day is the FOMC's decision announced at 7pm GMT, but there is unlikely to be anyting within the subsequent statement to move markets. The language of forward guidance will be the main focus, after Fed chairman Janet Yellen shifted from "considerable time" between the winding up of the most recent asset purchase programme and any rate hike and replaced the emphasis with "patience" (though how many months "patience constitutes is still uncertain".)”
“With the continuing US equities earnings season, a common theme has been a so-called "miss on analyst forecasts by US corporations" as a result of a stronger dollar impacting demand for US exports.”
“However, in reality, rather than those companies missing expectations, it is analysts that have failed to anticipate the effects of a stronger dollar and a weaker euro on US earnings.”