Economic Calendar: Wall Street Rises Ahead of the Fed Decision

Today’s economic calendar is almost entirely centered on the US Federal Reserve decision. Policymakers are widely expected to leave interest rates unchanged at 3.75%, but the market will also receive updated projections and, above all, closely listen to Jerome Powell. Ten hours before the Fed decision, equity indices are moving higher.

Economic calendar

7 AM GMT – Eurozone HICP inflation YoY (final): Forecast: 1.9% | Previous: 1.9%

• HICP inflation MoM: Forecast: 0.7% | Previous: -0.6%
• Core HICP inflation YoY in the euro area (final): Forecast: 2.4% | Previous: 2.4%

9:30 AM GMT – US Producer Price Index (PPI) YoY: Forecast: 3.0% | Previous: 2.9%

• US Producer Price Index (PPI) MoM: Forecast: 0.3% | Previous: 0.5%
• US Core PPI YoY: Forecast: 3.7% | Previous: 3.6%
• US Core PPI MoM: Forecast: 0.3% | Previous: 0.8%

10:45 AM GMT – Bank of Canada rate decision: Forecast: 2.25% | Previous: 2.25%
(Macklem press conference at 13:30 GMT)

11 AM GMT – US Factory Orders MoM: Forecast: 0.1% | Previous: -0.7%

11 AM GMT – US Durable Goods Orders (revised): Forecast: 0.0% | Previous: 0.0%

11:30 PM GMT – EIA Crude Oil Inventories (US): Forecast: -1.5M | Previous: 3.824M

• EIA Gasoline Inventories (US): Forecast: -2.0M | Previous: -3.654M
• EIA Distillate Inventories (US): Forecast: -1.5M | Previous: -1.349M
•  EIA Cushing Crude Inventories (US): Previous: 0.117M

5 PM GMT – Fed interest rate decision (US): Forecast: 3.75% | Previous: 3.75% (FOMC statement + projections)

• Fed median rate forecast (current level): Forecast: 3.375% | Previous: 3.625%
• Fed median rate forecast (next year): Forecast: 3.125% | Previous: 3.375%
• Fed median rate forecast (next 2 years): Forecast: 3.125% | Previous: 3.125%
• Fed median rate forecast (long run): Forecast: 3.125% | Previous: 3.0%

5:30 PM GMT – FOMC press conference (Jerome Powell)

Source: xStation5