Analysts at Bank of America re eyeing ‘two remaining major events’ left for this year, the US CPI report, then the Federal Open Market Committee (FOMC) meeting:
“We believe the two remaining major events of the year (CPI and FOMC) can set the near-term direction of the market.”“A softer print can clear the path for a year-end rally, with the second half of December being the second strongest period of the year, up 1.0% on average.”
“On the contrary, a firmer print can revamp volatility, especially after the 5% post-election rally.”
The Federal Open Market Committee (FOMC) is not until next week (December 17 – 18) while the November CPI data is due Wednesday, December 11:
This article was written by Eamonn Sheridan at www.forexlive.com.
