All Eyes Will Be On US GDP Number This Week

All Eyes Will Be On US GDP Number This Week

Last week's FOMC Meeting Minutes showed there was a firm consensus among members to keep rates on hold until there was a significant change to the U.S. economic outlook.

According to the FOMC minutes, the outbreak of the coronavirus was flagged as a new risk to the global growth outlook, which Fed members said warranted close watching at present, suggesting that the current pace of policy remains appropriate.

On the other hand, Economic reports have shown the euro area to be stuck in a deep slump, and coronavirus is hitting supply chains by shutting down factories in China.

Looking ahead, keep your eye on US GDP Growth on Thursday. The US fourth-quarter gross domestic product is expected to see a growth of 2.1%, as the same as the previous estimate.

We will closely watch the Core Durable Goods Orders in the US. US Durable goods orders excluding transportation in the meantime are expected to rise to 0.2% in January from a -0.1% fall in the previous month. 

Moreover, the Fed’s preferred measure of inflation, the core PCE index, which calculates spending minus volatile food and energy costs, arrives along with personal spending and income numbers from the Commerce Department on Friday. The January core PCE is expected to come out at 1.7%, year on year basis.

24 Feb 20 (Mon)

06:20 am



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