Pay Attention To The Fed Rate Decision This Week

Pay Attention To The Fed Rate Decision This Week

Last week, ECB leaves key rates unchanged in April monetary policy meeting, as expected. ECB said significantly faster pace of PEPP bond-buying during the first months of the year. 

ECB Lagarde added pandemic continues to constrain activity. The near-term outlook remains clouded by uncertainty. Vaccine underpins the expectation of a firm rebound in economic activity. Inflation has picked up on idiosyncratic events but underlying pressure remains low.

The US Dollar was down last week, remaining near multi-week lows as falling gains in U.S. Treasury yields diminished the safe-haven U.S. currency interest-rate advantage.

Looking ahead, keep your eyes on the Fed Monetary Policy Meeting this week. The Federal Reserve is expected to leave its benchmark interest rate unchanged. The meeting will give markets new guidance about monetary policy outlook. 

In the previous meeting, the Federal Reserve left its benchmark rate unchanged in the range of 0% to 0.25% and said it would keep rates within the current range until the economy has moved on from the Covid-19 crisis and is on track to meet the central bank's targets. Watch out this week's rate decision, the market will also respond to Chairman Jerome Powell’s comments at his press conference.

Focus on the US GDP Growth on Thursday. The US fourth-quarter gross domestic product is expected to increase to 6.5% from 4.3%

Besides the US GDP numbers,  this week calendar also features U.S. data on PCE Inflation Data, CB Consumer Confidence and Core Durable Goods Orders

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 Wednesday. The core PCE is expected to rise to 1.8%, year on year basis.

26 Apr 21 (Mon)

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