US Dollar: Fed minutes to clarify hawkish momentum – TD Securities

Source Fxstreet

TD Securities’ Global Strategy Team expects the April FOMC minutes to clarify how many participants backed removing the easing bias and how divided the committee was after several hawkish dissents. They argue that strong CPI and payrolls since April have shifted momentum toward hawks and support their call for a formal bias change at the June meeting.

FOMC minutes to detail bias debate

"The April FOMC minutes will shed more light on the discussion around changes to the statement's easing bias."

"Based off recent Fedspeak, we believe "many" participants supported dropping the bias — for which three voting members dissented."

"Although the strong CPI and payrolls reports since the April meeting make the minutes somewhat stale, we believe momentum is moving with the hawks."

"There was already significant support for dropping the bias in April, and recent data releases only support that further — motivating our call for them ultimately making the change in June."

"On Wednesday, the focus will be on the 20y bond auction in the afternoon as the market tests investors' appetite for duration."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Metaplanet acquires BTC at record pricesMetaplanet added another 797 BTC to its treasury.
Author  Cryptopolitan
Jul 14, 2025
Metaplanet added another 797 BTC to its treasury.
placeholder
On-chain data showed that whales are aggressively accumulating more Bitcoin and EthereumOn-chain data showed that whales are aggressively accumulating more Bitcoin and Ethereum.
Author  Cryptopolitan
Jul 30, 2025
On-chain data showed that whales are aggressively accumulating more Bitcoin and Ethereum.
placeholder
Bitcoin Traders Split on Whether BTC Will Drop to $70K or Rebound SoonBitcoin market participants hold divided views for short-term price action, with targets ranging vastly between $150,000 and a potential drop back to $70,000.
Author  Mitrade
Dec 22, 2025
Bitcoin market participants hold divided views for short-term price action, with targets ranging vastly between $150,000 and a potential drop back to $70,000.
placeholder
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
Author  Mitrade
Dec 26, 2025
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
placeholder
EUR/USD steadies near 1.1650 ahead of US Nonfarm PayrollsEUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. Traders remain cautious ahead of the US Nonfarm Payrolls (NFP) report, which is expected to offer further insight into labor market conditions and the Federal Reserve’s (Fed) policy outlook.
Author  FXStreet
Jan 09, Fri
EUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. Traders remain cautious ahead of the US Nonfarm Payrolls (NFP) report, which is expected to offer further insight into labor market conditions and the Federal Reserve’s (Fed) policy outlook.
Related Instrument
goTop
quote