The beginning of the week is relatively light on the macroeconomic calendar. However, in the coming days, investors will have the couple of key reports to track including interest rate decisions from the U.S., UK, and Japan.
The most important decision will undoubtedly be the expected first interest rate cut by the Fed. Although the start of monetary easing is almost certain, opinions are still divided between a 25 basis point cut and a 50 basis point cut. At the time of writing, the greater likelihood points to the smaller cut. Investors' attention will also be focused on the Fed's communication. Currently, investors are pricing in a total of 100 basis points of cuts this year, which implies one meeting with a 50 basis point cut, so one from those held in September, November, or December.
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Create account Try a demo Download mobile app Download mobile appAfter the FOMC meeting, political decisions from the BOE and BOJ will follow later in the week. However, it is expected that both central banks will maintain their current communication. In the case of the BOE, there is room for further cuts if inflation continues to fall. Meanwhile, the BOJ is likely to try to calm the markets after the recent panic sell-off in July. The bank's current rhetoric suggests that market conditions remain too unstable.
Detailed calendar for the week:
16 September: Monday
- 07:30 AM BTS - Switzerland, PPI inflation for August
- 01:30 PM BTS - USA, NY Empire index for September
17 September: Tuesday
- 10:00 AM BTS - Germany, ZEW index for September
- 13:30 PM BTS - USA, retail sales for August
18 September: Wednesday
- 07:00 AM BST - United Kingdom, CPI report for July
- 10:00 AM BST - Eurozone, HICP inflation for August
- 03:30 PM BST - US, DOE oil inventories data
- 07:00 PM BST - FED decision + dot plot
- 07:30 PM BST - Powell conference after the decisio
19 September: Thursday
- 09:00 AM BTS - Norway, Norges Bank decision
- 12:00 AM BTS - BoE decision
- 12:00 AM BTS - CBRT decision
- 01:30 PM BTS - USA, Philly FED data for September
- 03:30 PM BTS - USA, EIA data on natural gas inventories
20 September: Friday
- 00:00 AM BTS - BoJ decision
- 00:30 AM BST - Japan, CPI report for August
- 07:00 AM BST - United Kingdom, retail sales for August
- 01:30 PM BST - Canada, retail sales for August
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