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The five most important events that will move the markets this week
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Loading...1. The FED Interest Rate Decision
The Fed is not expected to take action on interest rates on Wednesday, but investors will still be looking for the desired mood swings among members of the bank that could indicate more clearly how much and when the Fed promises to lift. Currently, central bank concerns are focused on low inflation in the country, which suggests that interest will be raised but slower.
2. US Employment Report
The US Bureau of Labor will issue its report on new jobs in October on Friday.
The consensus is that data will show job growth of 315,000 people after a hurricane drop of 33,000 in September. Unemployment is expected to remain stable at 4.2%. Most of the focus is likely to be on average hourly wages, which is expected to grow by 0.2% after rising 0.5% a month earlier. On the political front, tax reform is likely to be at the heart of investor sentiment as markets seek new changes to the Trump administration's tax account.
3. Bank Of England's Decision on the Interest Rate and QE
Bank Of England will announce its decision on the basic interest rate, the amount of quantitative facilities and the point plan on how members voted on Thursday. The data will put an end to speculation about whether BOE will raise interest rates or not and will show the sentiment among members of the bank. In addition to BoE, traders will focus on a trio of activity reports in the manufacturing, construction and services sectors, and will provide information on whether the Brexit decision is still relevant.
4. The euro area inflation report
The eurozone will publish inflation figures in October on Tuesday. The consensus is that the report will show that consumer prices rose 1.4%, slightly slowing down from 1.5% in September, a level that remains slightly below the target of the European Central Bank of 2%. Besides inflation data, the euro area will also publish a preliminary report on economic growth in the third quarter. The economy of the region is expected to rise by 0.6% in June-September. period equivalent to an annual 2.1%.
5. Decision of the Central Bank of Japan on the Base Interest Rate
Bank Of Japan is not expected to change its monetary policy at the end of the two-day meeting on Tuesday, as strong exports and private consumption raise the prospects for moderate economic growth.
Governor of Bank Of Japan, Huruhiko Kuroda will hold a press conference afterwards to discuss the decision. It is likely to remind the markets of the BoJ's determination to maintain its ultra-easy policy until inflation has reached steadily over 2%.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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