Daily Alert – Wednesday 1st November 2023: Fed’s “hawkish pause” expected

Mark NugentDaily Alert, Nov 2023

Daily Alert – Wednesday 1st November 2023: Fed’s “hawkish pause” expected

Good afternoon.

The markets are quiet ahead of tonight’s Fed rate announcement at 6pm GMT. A “hawkish pause” is expected, meaning no hike, but the clear re-statement that if a hike is required in the future, the Fed will not hesitate. The FedWatch tool shows an increased chance of a hike in December, but only at a chance of around 20%, before that subsides, and the market then expects the Fed to begin easing around mid-2024.

Tomorrow’s highlight is the Bank of England’s (BoE) rate setting announcement.

I’ll be back tomorrow when we can chew the cud on the Fed and the BoE.

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