Loading…
Hong Kong Monetary Authority chief Norman Chan said the FOMC raised the Fed funds rate by 25 basis points as expected. He cited the tightening labour market, rising energy and commodity prices, and incoming US fiscal policy as sources of uncertainty over the pace of future US rate increases.
The statement signals that Hong Kong dollar rates will rise with US rates, which affects regional financing costs but has limited direct effect on feed commodity prices.
hkma.gov.hkHong Kong Monetary AuthorityDec 1, 2016After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
