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Wednesday, March 16

16th Mar - Fed meets market's dovishness

Previously on MoreLiver’s:

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Brexit, Cyprus and the EU Summit Marc Chandler

SEK: could the Riksbank erase and rewind?Nordea
The Riksbank has turned less worried about the inflation outlook and signaled increased tolerance of SEK gains. While the ECB’s QE acceleration could still throw a wrench in the works, the biggest of the Riksbank's "exit challenges" would be if it allowed markets to reprice Swedish rates. A repricing of Swedish rates would prompt a substantial appreciation of the SEK.
6 countries that could derail the EU-Turkey migration deal – Politico
EU and Turkey on collision course over refugee deal – FT
5 Things To Know About Europe’s Migration Deal With Turkey – WSJ

Is America’s tightening cycle almost over?FT

Press Release – FED
Economic Projections – FED

FOMC Projections and Press Conference – Bill McBride
How the March Statement Changed from January – WSJ
Fed Pulls Back to Two Hikes, Dollar Drops and Stocks Rally – Marc Chandler
See Markets React to the Fed in 7 Charts – WSJ
Fed Dot Plot Points to More Gradual Rate Rises – WSJ
The Fed's Hidden Message – View / BB
Fed holds steady, now sees two hikes this year – Reuters
Economists React: ‘They Do Not Appear To Be in a Rush’ – WSJ
Fed leaves rates unchanged, lowers economic forecasts – WaPo
Fed Scales Back Rate-Rise Forecasts as Global Risks Remain – BB
The Fed throws in the towelScott Sumner

FOMC review: surprisingly dovish nowNordea

Fed: Industrial Production decreased 0.5% in February – Bill McBride
Housing Starts Beat Expectations – ZH
Bonds & Stocks Tumble As Core CPI Surges By Most Since October 2008 – ZH
U.S. inflation pushing higher; housing market firming – Reuters

CPI review: US core inflation continues grinding higher – Nordea

Economic Outlook Spring 2016Nordea

China drafts plan for Tobin tax on FX transactionsDanske Bank

Understanding balance of payments crises in a fiat currency systemFrances Coppola

Euro rates updateNordea

Economic Outlook will be out today at 9AM CET * Fed to keep door open for rate hike in April or June * BOJ could cut to -0.5% according to Kuroda

Morning MarketsTF
Asian stocks mostly fell on Wednesday though Chinese stocks managed to edge modestly higher while oil firmed and the dollar drifted ahead of the keenly awaited US Federal Reserve meeting later today.

Daily Market Comment Marc Chandler
Dollar Firm Ahead of the FOMC, UK Budget Looms

Daily Market CommentMacro Man
The only thing that goes down more regularly than the dots is Valeant

Daily ShotTF
The political turmoil afoot in Brazil has to put an end to the recent BRL rally and taken both stocks and the currency sharply lower today. Elsewhere in emerging markets governmental and economic issues as well as the risk-off trend are pushing prices lower.

Daily Press SummaryOpen Europe
Numerous European capitals poised to derail EU-Turkey migrant deal as IDS calls on Cameron to veto * Cameron: Canada-style agreement with EU “is not the right deal for us” * Significant numbers of black and ethnic minority voters could back Brexit over rise of far-right and frustration with EU free movement rules * Osborne: Storm clouds gathering over global economy * Mandelson: Brexit could upset Northern Irish peace process * Report voices concerns group visits to European Parliament are being used to reward party activists * Dutch MPs want to debate negative effects of ECB low interest rates with Dutch central bank governor * Slovakian PM nears coalition deal

Brussels PlaybookPolitico
Migration mayhem — Trump, Clinton and Kasich triumph

Futures Flat Ahead Of Fed Meeting Expected To Usher In More Rate Hikes


FX UpdateTF
The risks over today’s US Federal Reserve meeting are certainly two-way as the market is neither sure what to expect nor sure how it is to react to central bank meetings after the example set by the European Central Bank last week but we look for higher probability of a USD-supportive outcome.

From the FloorTF
We probably won't get a move tonight and the market is certainly not expecting it but a hawkish Fed may widen the door for a April move.

Haukkamainen signaali markkinoille * Ruotsin inflaatio kehittyy keskuspankin kannalta suotuisaan suuntaan * Yhdysvallat korvannut Euroopan romahtaneen Venäjä-viennin * Tervetuloa Nordea Economic Outlook –webinaariin

Talouskatsaus kevät 2016 Nordea

Ruotsin palkkamalli ei paljoa autaRoger Wessman

Bruttokansantuote kasvoi 0,5 prosenttia viime vuonnaTilastokeskus