What are the odds of a Fed rate hike move this year? There are diverse opinions out there and in general the market stands divided on the issue. However, Craig Erlam, Senior Market Analyst at Oanda, presents a compelling case in support of a rate hike this year.
Erlam spots what few have taken note of so far. “All of a sudden, there is a consensus among Fed policymakers regarding the rate hike”, hence the odds of a rate hike this year not necessarily in September are high.” He adds further, “Similar consensus was last seen in July 2015.” Erlam then goes on to discuss his outlook on precious metals pack – gold & silver and USD/JPY pair.