FXStreet (Guatemala) – Analysts at BNZ explained that we have a very busy week in which US Q2 GDP and the FOMC meeting will dominate.
Key Quotes:
“The FOMC meeting is on Wednesday and expectations are for no change (markets are pricing a 5.8% chance of an increase).”
“The post meeting statement will be watched closely for any indications on the timing of an expected Fed rate lift-off with markets now pricing in a 98% chance by the end of year. On Thursday attention will shift to the first reading of Q2 GDP. This will incorporate the BEA’s review of seasonal adjustment and will likely result in revisions to history – particularly under focus will be whether the weak Q1 reading is revised higher.”
“The Atlanta Fed’s GDPNow estimate points to 2.4% for Q2, with the consensus looking for 2.5%.”
“Outside these two important releases, there is the usual slug of data which will be watched for momentum in the US economy. Durable Goods orders is on Monday.”
“On Tuesday will be the Markit Composite PMI, Conference Board Consumer Confidence and the Richmond Fed Manufacturing Index.”
“Initial jobless claims is out Thursday and on Friday is the Chicago Purchasing Manger Index and a final read on the University of Michigan’s July Consumer Sentiment. There is also Case-Shiller House Prices on Tuesday and Pending Home Sales on Wednesday.”
(Market News Provided by FXstreet)