The U.S. dollar ($DXY) remained steady ahead of the Federal Reserve's September FOMC minutes release, while the New Zealand dollar ($NZD) fell following a 50 basis points rate cut by the Reserve Bank of New Zealand (RBNZ). The minutes, released at 2:00 pm on October 9, revealed that several Federal Reserve officials supported a 25 basis points cut in September. The discussion during the meeting was more robust than initially suggested, indicating internal debate over the rate cut's magnitude. The Federal Reserve's agenda for the day included speeches from seven officials, providing further insights into their economic outlook.
The Federal Reserve minutes are out for the September meeting where the FOMC opted for a 50 bps cut (link below). It turns out that the discussion about the magnitude of the September cut was more robust than suggested at the press conference that followed the policy meeting.…
FOMC minutes show that plenty of Fed officials supported a 25bps cut in September. based on discussion of the labor market at the time, and data released since, it is likely the hawks have much more sway in November. no cut November 🔜 https://t.co/yqWTpaoqIu https://t.co/REi7Ev8AAA
Fed minutes in two minutes.