Weekly Preview Report 19/05/2017
WEEKLY PREVIEW: WEEK ENDING MAY 26th 2017
Monday 22nd May- No Major Events
Tuesday 23rd May- U.K. Inflation Report Hearings, 13:00 GMT+3.
The focus will be on the Bank of England, as the Governor and his committee members detail inflation and economic outlooks for the Treasury Committee. Annual CPI rose to 2.7% for March with Core prices rising to 2.4%. Inflation is edging closer to 3% beyond the 2% target set by the government.
Wednesday 24th May- F.O.M.C Minutes, 21:00 GMT+3.
At May’s Federal Funds Rate announcement, the Federal Reserve decided to keep interest rates unchanged. However, the market will be looking for clues regarding a potential rate hike at June’s meeting. Currently, markets have priced in a 65% chance of a 100-125 basis point rise at the next meeting, according to the Chicago Mercantile Exchange’s FedWatch Tool.
In Canada, the Monetary Policy Committee will meet to announce their decision on the direction of interest rates. The Overnight Rate is expected to remain at 0.50% and will be released with a statement at 17:00 GMT+3.
Thursday 25th May- New Zealand Budget Release, 05:00 GMT+3.
The budget for the coming year will be released by the New Zealand government. The plan will include details of expected expenditure, income streams, planned investments and financial aims. In 2016, the government ran a budget surplus of 0.7% of GDP.
Friday 26th May- U.S. Core Durable Goods Orders, 15:30 GMT+3.
U.S. Core Durable Goods Orders are expected to have risen by 0.2% in April after contracting by 0.2% in March. The manufacturing sector grew slower than expected in April according to ISM Manufacturing PMI, as new orders fell by 7 percentage points.
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