Oftentimes in the past year, the amount of Fedspeak has been far too much but we’re approaching a turning point in policy so it’s one of the rare times where every word matters. This entire stock market rally kicked off with the Fed and if they shift to an explicitly neutral stance, then there’s further room to run, along with a hearty put.
In any case, next on the docket is Cleveland Fed President Mester, who talks on financial stability at 1:45 pm ET. She’s recently been in the ‘wait and see’ camp on rates. Mester votes next year.
At the top of the hour, the latest Beige Book is due out.
This article was written by Adam Button at www.forexlive.com. Source