Every week we expect many interesting events that can shake the market.
American economy slows due to hurricanes in the third quarter
American economic surge probably slowed during the third quarter because hurricanes Harvey along with Irma affected consumer spending as well as construction activity. However, underlying momentum is still sturdy enough amid upbeat business investment on equipment.
As a Reuters survey of market experts states, the US GDP inched up at a 2.5% annual rate from July to September.
On Friday, the Commerce Department is expected to release its first evaluation of third-quarter GDP surge. Excluding the hurricane-related disruptions, market experts tell that third-quarter GDP ascend would have either matched or surpassed the tempo observed from April to June.
With post-hurricane labor market, industrial output as well as retail sales data already demonstrating a rebound in activity, the upcoming report will most likely have no impact on the US monetary policy in the near future.
In December, the Fed is believed to lift interest rates for a third time in 2017.
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Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.