Good morning to all Asian traders getting in front of the desks
The big news overnight was, of course, the FOMC:
- Five dovish hints in the Federal Reserve statement
- Fed statement sends dollar back and forth
- Full text of the FOMC decision on January 27, 2016
- Federal Reserve holds rates unchanged: Statement highlights
Notable in the statement was the FOMC dropping the phrase a "balance of risks"
The Fed has said it sees risks to the outlook for the economy & labor market as "balanced" (there has been the odd hedging around the term though) in every statement since troops were sent to Iraq . So I'm told, I haven't gone back and read them all to check, I'll admit.
But .... this time .... its been removed. It hasn't been replaced with the words "we're all doomed", "Armageddon", "four horsemen of the Apocalypse" or anything like that, much to the disappointment of doomer bloggers, but its absence is being commented on; that perhaps Yellen and her buddies round the big table are more worried than they have been (institutionally) by the current oil price and China woes than for many, many years.
Significant? I gotta be honest and say I don't think so, but make your own mind up. Comments welcome.
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