Pay Attention To The Fed Rate Decision This Week

Pay Attention To The Fed Rate Decision This Week

Last week, the US dollar held three-week highs against a basket of major currencies after a raft of strong U.S. economic data rekindled expectations for earlier policy tightening by the U.S. Federal Reserve.

U.S. retail sales unexpectedly increased in August, rising 0.7% from the previous month despite expectations of a 0.8% fall, while a business sentiment survey by the Philadelphia Fed also showed a big improvement.

Moreover, Inflation in the US, as measured by the Consumer Price Index (CPI), edged lower to 5.3% on a yearly basis in August from 5.4% in July, the data published by the US Bureau of Labor Statistics revealed on Tuesday.

Looking ahead, watch out for 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. 

We will closely watch for any details of the US central bank plans to start paring back its $120 billion a month emergency stimulus program.

Besides the Fed rate decision, this week calendar also features U.S. data on housing starts and building permits numbers are due out on Tuesday, figures on existing home sales on Wednesday, Thursday report on initial jobless claims and new home sales is due for release on Friday.

20 Sep 21 (Mon)

02:35 am



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