Week in FX Americas Fed Debates as USD regains some ground

This week was the battle of the Fed member statements. In various interviews to the press different members of the press issued statements that make clear that they are not on the same page. Fisher and Bullard suggested, in separate interviews, that the Fed could adopt a single mandate tied to controlling inflation. This is a direct response to the topic which Kocherlakota from the Minnesota Fed. He argues that the central bank should keep rates low until the unemployment rate is around 5.5%.

IMF Chief is more concerned about the impending US fiscal cliff and the potential impact to global growth if there is a standoff like last time.

Americas

EUROPE Week in FX

ASIA Week in FX

WEEK AHEAD

  • JPY BOJ Minutes of Aug. 8–9 Meeting to Be Released
  • EUR German Consumer Price Index (YoY)
  • EUR German Consumer Price Index – EU Harmonised (YoY)
  • EUR German Unemployment Change
  • GBP Gross Domestic Product (QoQ)
  • GBP Gross Domestic Product (YoY)
  • USD Gross Domestic Product Price Index
  • USD Gross Domestic Product (Annualized)
  • USD Durable Goods Orders
  • USD Personal Consumption Expenditure Core (YoY)
  • CAD Gross Domestic Product (YoY)

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza