FXStreet (Delhi) – Research Team at BNZ, expect that all eyes will be focused on the US this week with the FOMC holding their October meeting, with the announcement coming early Thursday morning.
Key Quotes
“With the market currently pricing in only a 2% chance of a move from the Fed at this meeting, their commentary on the economy and any change in forward guidance will be eagerly anticipated.”
“It’s also a big week for US data, the centerpiece being Thursday’s first cut of September quarter GDP. As of Tuesday, the Atlanta Fed’s real time GDPNow estimate stands at a soft 0.9% with some key data points to come between now and Thursday that could swing that number.”
“The first of such will be Tuesday’s durable goods orders report, a key guide to US business investment. Another piece of the GDP jigsaw is net exports, the goods trade balance for September being released on Wednesday.”
“Also on the data schedule for the week are the two consumer confidence measures book-ending the week, together with the Fed’s Lockhart, Williams, and George all speaking on Thursday and Friday, naturally after the FOMC meeting. Pending sales are also on the week-ahead schedule.”
(Market News Provided by FXstreet)