A Busy Week Ahead; Focus On The Fed And BoE Rate Decisions
The Euro jumped back up against the US Dollar after the European Central Bank cut its key interest rate further into negative territory and announced it would restart quantitative easing from November.
The ECB announced overnight a quantitative easing program that entails 20 billion euros per month. The central bank also cut its main deposit rate by 10 basis points to -0.5%, in line with market expectations.
U.S. President Donald Trump keeps attack to the Federal Reserve for not doing enough to support the U.S. economy.
In the upcoming week, we will focus on the Fed Rate Decision and Eurozone CPI Inflation.
The Fed is scheduled to hold its policy meeting on Wednesday. The market expects that the Federal Reserve will cut interest rates by a quarter-point. In the July meeting, the Fed cut rates for the first time in over a decade. Powell's speech will likely be parsed for clues on whether the central bank is leaning more dovish in the run-up to the Fed meeting on Sept. 17-18.
Investors will also get an update on the health of the U.S. housing market from reports on Existing Home Sales, Building Permits and Housing Starts.
Moreover, the Eurozone will publish inflation figures for August on Wednesday. On the year-on-year basis, the Eurozone CPI is expected to stay at 1.0%. The core figure, without volatile energy and food prices, is seen holding steady at 0.9%, unchanged from the preceding month.
16 Sep 19 (Mon)
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