SHORT GBPUSD & EURUSD: FOMC DUDLEY SPEECH HIGHLIGHTS

Fed Dudley reiterated his hawkish sentiment from earlier in the week today, concentrating somewhat purely on the labour market and its gains (ignoring every other data point since that would mean being dovish) nonetheless this is supportive of USD bulls regardless of the genuineness. As posted earlier, i like GBPUSD and EURUSD shorts - see attached posts.

The option implied fed funds interest rate trades at 18% for september up from 15% yday - more bullish USD sentiment + USD govies trade down across the board though

Fed Dudley Highlights:

-Fed's Dudley: Fears Of Labor Market Stalling Are Much Reduced
-Dudley: Recent Data Confirms Job Market Continues To Improve
-Dudley: Evidence Mounting Middle Income Jobs Are Picking Up
-Dudley: Puerto Rico Economy Remains Troubled
-Dudley: Puerto Rico Has Fundamentals To Mount A Rebound
-Fed's Dudley Says Recent Data Confirms U.S. Job Market Still Improving
-Fed's Dudley Says U.S. Job Market is Still Improving

FED'S DUDLEY: SEEING CONTINUED IMPROVEMENT IN LABOUR MARKET

-Positive Signs That 'Hollowing Out' Of Job Mkt Is Abating
-Strong Growth For 2 Months Helped Alleviate Earlier Concerns

Commento:

Dudley Comments Updated:

-Fed's Dudley: U.S. Job Gains Have Been 'Very Sturdy'
-Dudley: Evidence Wage Gains Are Ticking Higher
-Dudley: We Are Getting Closer To Full Employment
-Dudley: Still Sees Some Slack In Labor Market
-Dudley: Expects Rebound In 2H Economic Growth
-Dudley: 'Reasonably Confident' 2H Growth Will Be Over 2%
-Dudley: Weak 2Q U.S. Growth Was Almost Certainly An Aberration
-Dudley: More Important To Watch Job Data Over GDP Data
-Dudley: Strong GDP Data Would Help Case For Rate Rise
-Dudley: 50K-100K Monthly Job Gains Needed For Stable Jobless Rate