It looks like we’ve heard the final word from the FOMC and the backout starts at midnight ET.
We’re left with a market pricing in a 27% chance of a 50 bps Fed cut and only next Wednesday’s CPI report as a potential market mover, though I think that’s dubious.
What that doesn’t preclude is a leak to WSJ Fedwatcher Nick Timiraos or someone else. Normally, that wouldn’t come until the Monday of FOMC week.
This article was written by Adam Button at www.forexlive.com.
