The most significant events of today will be the central banks` decisions, particularly the first FOMC decision following the inauguration of Donald Trump`s administration in the USA.
Today, we will learn the interest rate decisions from both the USA and Canada. The market expects the Fed to maintain interest rates at their current level, while the Bank of Canada (BoC) is anticipated to cut rates by 25 basis points to 3.00%. The FOMC meeting and the subsequent press conference will be particularly interesting, as this is the first decision in the context of the new Republican administration.
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Create account Try a demo Download mobile app Download mobile appTrump has already announced most of his executive orders and completed his first, albeit partial, two weeks in office. Therefore, it is likely that during the press conference, Powell will face numerous questions regarding the current policies, tariffs, and the early decisions of the Trump administration, as well as their impact on the US economy, including inflationary pressures.
Detailed schedule for the day:
08:00 AM GMT, Spain - GDP data:
- Spanish GDP (Q4): forecast 0.6% QoQ; previous 0.8% QoQ;
- Spanish GDP (Q4): forecast 3.2% YoY; previous 3.3% YoY;
02:15 PM GMT, United Kingdom - BoE Gov Bailey Speaks
02:45 PM GMT, Canada - BoC Interest Rate Decision for December:
- forecast 3.00%; previous 3.25%;
02:45 PM GMT, Canada - BoC Rate Statement
02:45 PM GMT, Canada - BoC Monetary Policy Report
03:30 PM GMT, United States - EIA Data:
- Gasoline Inventories: forecast 2.000M; previous 2.332M;
- EIA Weekly Distillates Stocks: forecast -2.750M; previous -3.070M;
- Crude Oil Inventories: forecast 2.200M; previous -1.017M;
03:30 PM GMT, Canada - BOC Press Conference
07:00 PM GMT, United States - Fed Interest Rate Decision for December:
- forecast 4.50%; previous 4.50%;
07:00 PM GMT, United States - FOMC Statement
07:30 PM GMT, United States - FOMC Press Conference
