Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
ECB Expected to Hold Rates as Middle East Tensions Keep September Hike in Focus 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
BOJ Rate Decision in Focus as Sticky Inflation, Weak Yen Shape USD/JPY and Nikkei Outlook 
Japan Economy Minister Downplays Inflation Risks Despite BOJ Warning 
RBA Signals More Rate Hikes Possible as Australia Battles Stubborn Inflation 
After a relatively dovish FED yesterday, where participants reduced their forecast for interest rates in 2017 by 30 basis points and 60 basis points for 2018, rates market backed away from pricing a hike this year. FOMC still projected two hikes this year but according to market that seems very unlikely.
- Before the FOMC, the market was pricing 79 percent chance of no hike in July but that deteriorated to 93 percent as of now.
- September odd of status quo was at 64 percent before, now that is at 82 percent.
- Previously market was pricing 62 percent chance of no hike in November but the market is sure with 77 percent probability that there won’t be a hike.
- Previously market was forecasting a hike in December but that chance has now deteriorated to 41 percent.
The probability of the second hike in December now stands at just 6 percent.
Back in December, we at FxWirePro was forecasting one or two hikes this year, we maintain that view but think that British referendum will be a big factor in determining that.
