The Federal Reserve's Federal Open Market Committee (FOMC) meeting concludes today. Following a busy US data agenda:
- This snapshot from the ForexLive economic data calendar, access it here.
- The times in the left-most column are GMT.
- The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where is a number, is the consensus median expected.
A brief what to expect via TD:
- We expect the FOMC to follow up June's large 75bp rate increase with a similar move in July, lifting the target range for the Fed Funds rate to 2.25%-2.50%.
- In doing so. the Committee would bring the policy stance to its estimate of the longer-run neutral level.
- We also look for Chair Powell to retain optionality by leaving the door open to additional 75bp rate increases.
Earlier previews:
- Morgan Stanley on how the FOMC will give the US dollar a boost (spoiler - hawkish hike!)
- FOMC preview - Goldman Sachs will focus on slowing economy and the US dollar impact
- Is there a dollar-trading pattern around FOMC decisions?
- The two big US events this week are GDP data and the FOMC rate hike - Preview of both
- Will the Fed inject fresh upward momentum into the USD rally? - MUFG
