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Highlights of Powell's opening statement: Unambiguous and unequivocal. The Fed is going to pin rates to zero for a long time. See here for global coronavirus case data

Powell will deliver an opening statement then take questions Scheduled start time is 2:30 pm ET (1830 GMT): See here for global coronavirus case data

Federal Reserve rate decision highlights April 29, 2020 The key line relates to forward guidance and is essentially unchanged: This is somewhat of a hint that in the medium-term there's something a bit better:

Rate decision at the top of the hour Although the Fed decision is likely to show no change in rates at 2 PM ET, the Fed is certainly all-in when it comes to Fed activity.  The market will likely focus on the statement as well as the thoughts on the economy going forward given current […]

<p>China’s official NBS PMI manufacturing dropped to 50.8 in April, down from 52.0, missed expectation of 51.0. In particular, new export orders plunged sharply to 33.5. But PMI non-manufacturing improved to a three-month high of 53.2, up from 52.3, beat expectation of 52.8. The set of data suggests that China’s economy is on a do

<p>Japan’s industrial production dropped -3.7% mom in March, down from February’s -0.3% mom, but was better than expectation of -5.2% mom. But that still the sharpest fall in production since October last year. Retail sales dropped -4.6% yoy, down from February’s 1.6% yoy, slightly better than expectation of -4.7% yoy. That&

<p>New Zealand ANZ Business Confidence improved to -66.6 in April, up from preliminary reading of -73.1, while down from March reading of -63.5. All sectors are deep in negative with retail at -70.7, manufacturing at -65.3, agriculture at -89.7, construction at -71.8 and services at -60.3. Activity Outlook also improved slightly to -55.1, up

<p>Fed kept monetary policy unchanged overnight as widely expected and reiterated the pledge to maintain rate target at 0-0.25% ” until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.” Chairman Jerome Powell said there will be a “large

<p>Fed keeps federal funds rate unchanged at 0-0.25% as widely expected. The forward guidance is unchanged too. “The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.” Full statement below.

<p>Commodity currencies remain the strongest one today as supported by risk appetite. Sentiments are lifted by expectations of lockdown exits as well as optimism on coronavirus treatment. Dollar remains generally weak with Fed providing little inspirations. Euro and Swiss Franc are not much better than the greenback. Euro’s weakness is