Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
Fed Meeting & Press Conference
|The Federal Reserve raised interest rates during its last two December meetings – in 2015 and 2016. This December should be no exception to this trend. The US central bank has been preparing the market for this move for a while.|
|The last time the Fed changed the federal funds rate was in June 2017. That time it raised the rate to 1.25%. The odds of another rate hike in December exceed 90%.|
|The rate statement at 21:00 MT time will be followed by a press conference at 21:30 MT time. The US dollar will likely stay volatile during these events in all currency pairs, especially in USD/JPY and EUR/USD.|
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.