Some Federal Reserve policymakers think inflation could remain below their 2.00% target for longer than currently anticipated, raising fresh question marks about the pace of interest rate increases next year. Apart from minutes from the Central Bank's November 1st meeting, investor confidence in the US currency was further dented by several weaker than anticipated macroeconomic data points.
New orders for long-lasting factory goods made in the country unexpectedly declined in October after three consecutive months of strong growth, while the University of Michigan’s consumer sentiment report revealed a dip in expectations for long-term inflation. Trading volumes are likely to be thinner than normal on Thursday, with US financial markets shuttered for the Thanksgiving holiday and Japanese markets closed for a public holiday as well.
Fed Frets About Low Inflation
Daily Analysis - 23/11/2017