December US Fed hike, here we come!

After the meeting of the FOMC this week, a US rate hike in December looks quite probable now. Saxo’s Head of FX Strategy John Hardy says the October FOMC statement “is a clear potential setup for a December rate move. According to the strategist, this month there are two main changes to the September statement. First, the removal of the phrase from the previous statement of the sentence discussing worries from global developments. Second, the alteration of the language discussing the first rate hike, replacing the “how long” to “maintain” words to a “whether it will be appropriate" to “raise” the target range "at the next meeting". John Hardy argues that this is “a major hawkish upgrade to the language by FOMC standards”. To read more visit: (VIEW LINK)