The Week Ahead; Fed Reserve September Meeting In Focus

Investors will be paying close attention this week to the U.S. Federal Reserve’s 2 day monetary policy meeting that concludes on Wednesday followed by a press conference from Fed Chair Janet Yellen and updated economic projections from Fed Committee members.

The Federal Reserve is not expected to raise interest rates during their 2 day policy meeting this week after having raised interest rates two times this past year.

The market is currently not pricing in an interest rate hike for September.

According to CME’s Fed Watcher tool, the probability is high and stands at 98.6 percent that the Federal Reserve will leave their target rate unchanged with the federal funds.

However, the likelihood of a rate hike during the Fed’s meeting in December meeting currently stands at a 55. 8 percent probability with a .25 percent basis point rate hike to 1.25-1.50.

Some of the other economic data that investors will pay close attention to this week includes housing starts for August due on Tuesday, existing home sales for August on Wednesday, and IHS Markit Flash U.S. Composite PMI reported midday on Friday after it is provided for France, Germany, and the 19 member euro-area or also known as the eurozone.

Full U.S. Economic Calendar

Monday- Housing Market Index (Sept.)

Tuesday- Housing Starts (August), Import/Export Prices (Aug.)

Wednesday- MBA Mortgage Applications, Existing Home Sales (Aug.), Fed policy decision at end of FOMC meeting, Petroleum-Crude status report

Thursday- Initial Jobless claims, Philadelphia Fed, FHFA Housing Price Index, Leading Indicators (Aug.), Natural Gas report

Friday- IHS Markit Flash U.S. Composite PMI

Written and Edited By:

John Schweitzer

@SchweitzFinance

@schweitz31

schweitz31@gmail.com

 

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