Emerging economies to confront FOMC projections amid dollar strength

Highlights of today's FOMC economic projection - inflation, GDP growth & interest rates for next two years.

The US economic shape is improving enough to suggest two rate hikes this year.

Since the outcome of the FOMC meeting has been the centre of attraction, for global emerging economies have already begun struggling.

Brazil's retail sales were -8.5% YoY yesterday.

In addition to that awful trade balance data from India, Indonesia, and Korea caused by robust dollar strength have not been indicating upcoming business sentiments positively in EM.

The prospect of higher US interest rates, and also of a stronger USD, is deeply concerning.

Housing starts were much weaker than expected at 1.04.

While building permits were far stronger - but the strength was in units built to rent rather than single-family homes.