Keep Your Eye On Federal Reserve Chair Jerome PowellTestify

Keep Your Eye On Federal Reserve Chair Jerome PowellTestify

Last week, the U.S. Federal Reserve decision is not to provide additional stimulus at its latest meeting. The Federal Reserve kept rates unchanged Wednesday and signaled that interest rates would stay close to zero at least through 2023, to support the economy's ongoing recovery. This was widely expected, but the central bank also lifted its growth forecast for 2020 to show a contraction of 3.7%, compared with an estimate for a 6.5% decline previously. 

In the upcoming week, the Federal Reserve Chair Powell testifies on the CARES Act before the House Financial Services Committee, in Washington DC.

Besides the Fed Chair Powell Testifies,  this week calendar also features U.S. data Existing Home Sales, Manufacturing PMI, New Home Sales, and Crude Oil Inventories as well as Core Durable Goods Orders.

US Durable goods orders excluding transportation are expected to ease to 1.3% in August from 2.0% in the previous week.

In the Eurozone, The German IFO Business Climate Index will be published on Thursday. The index based on a survey of manufacturers, builders, wholesalers, and retailers and it measures expectations of German Economic Activity for the next six months. The Index is expected to rise to 93.8 from 92.6 a month ago. 

21 Sep 20 (Mon)

06:15 am



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