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Morgan Stanley Analysis maintains a bullish bias and lengthy USD publicity into tomorrow’s November coverage determination.
- “Our strategists anticipate the November FOMC to assist additional consolidation of the market, because the Fed discusses decreasing the tempo of hikes, and they are going to be watching Powell’s views on Treasury market liquidity, and any potential regulatory critiques. They counsel being impartial on length and curve into the November FOMC assembly, and suggest being brief 2y SOFR spreads as a method to play for decrease brief positioning in Treasuries,” MS notes.
- “Resilient Treasury yields ought to restrict USD draw back, and our FX strategists suggest remaining lengthy USD towards EUR, GBP, and CAD,” MS provides.
FOMC on Thursday, 3 November 2022, timings (in GMT):
snapshot from the ForexLive financial knowledge calendar, access
occasions within the left-most column are GMT.
numbers within the right-most column are the ‘prior’ (earlier
month/quarter because the case could also be) end result. The quantity within the column
subsequent to that, the place there’s a quantity, is the consensus median