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Calendar event / Yesterday at 18:00 GMTpreviousforecastactualMed Median Fed Funds Rate - 20182.4%Med Median Fed Funds Rate - 20192.9%2.4%Med Median Fed Funds Rate - 20203.1%2.6%Med Median Fed Funds Rate - 20213.1%2.6%
Calendar event / Yesterday at 18:00 GMT
US U.S. interest rate decision, followed by Jerome Powell press briefingpreviousforecastactualHigh FOMC Vote For Action1010High FOMC Vote Against Action00High Fed Funds Rate-Range High2.52.5High Fed Funds Rate-Range Low2.252.25Med Discount Rate33Med Discount Rate Change (Pts)00
Squawk / Yesterday at 6:48 GMTUS equities strong, but cautious ahead of the Fed Meeting
A surge higher again Tuesday by US and global equity averages, in most cases positing new cycle and 2019 highs.
This bullish behaviour has reinforced both short- and intermediate-term bullish themes that have dominated this year.
The most recent up lift was triggered by the “No Deal” Brexit being taken off the table last week.
However, some ongoing concerns around US-Sino trade negotiations, plus today’s upcoming Federal reserve Meeting saw major European and US indices dip back yesterday from the new 2019 peaks.
Here we focus on the US benchmark average, the S&P 500, into the FOMC decision, statement and press conference.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/us-equities-strong-but-cautious-ahead-of-the-fed-meeting/
Calendar event / Friday at 14:00 GMT
US University of Michigan Survey of Consumers - preliminarypreviousforecastactualHigh Mid-Mo Sentiment95.595.397.8Med Mid-Mo Current Idx110111.2Med Mid-Mo Expectations86.289.2
Calendar event / Friday at 13:15 GMT
US Industrial Production & Capacity UtilizationpreviousforecastactualHigh Industrial Production, M/M%-0.6%+0.3%+0.1%High Capacity Utilization %78.2%78.4%78.2%Med Capacity Utilization, Net Chg (Pts)-0.6-0.1
Squawk / Friday at 6:23 GMTEuropean averages join US indices with bullish extensions
In yesterday’s report here we highlighted that the main US equity indices have produced aggressive rallies back higher this week, with both the Nasdaq 100 and S&P 500 hitting new highs for 2019.
This has been driven by solid US macroeconomic data and an easing of global growth concerns, as the UK has moved away from a No Deal Brexit scenario with the recent votes in the UK Parliament.
Over the past 24 hours, other European stock indices have played a technical catch up, with some of the major European stock averages also now achieving new highs for 2019.
Here we focus on the broad European benchmark average, the EURO STOXX 50 and the UK yardstick, the FTSE 100.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/european-averages-join-us-indices-with-bullish-extensions/
Calendar event / 14 March 2019 at 14:00 GMT
US New Residential SalespreviousforecastactualMed New Home Sales621K622K607KMed New Home Sales, M/M%+3.7%+0.2%-6.9%Med New Home Sales Months Supply6.66.6
Calendar event / 14 March 2019 at 12:30 GMT
US Unemployment Insurance Weekly Claims Report - Initial ClaimspreviousforecastactualHigh Jobless Claims223K224K229KHigh Continuing Claims17550001776000Low Jobless Claims, Net Chg-3K+6KLow Continuing Claims, Net Chg-50K+18K
Squawk / 14 March 2019 at 7:58 GMTUS averages lead global stock indices back higher
The major US equity averages have seen an aggressive surge back higher this week, with US macroeconomic data continuing to stay strong, plus global relief as we move away from a No Deal Brexit.
Stock markets have shrugged off the earlier March selloffs last week, that wiped out notable supports and likely reflected short- and intermediate-term bullish fatigue from the very strong 2019 rallies.
The robust rallies this week have seen both the Nasdaq 100 and S&P 500 hit new 2019 highs, rejecting the recent selloffs as corrections.
Here we focus on the US broad benchmark average, the S&P 500 and the upside risks to prices.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/us-averages-lead-global-stock-indices-back-higher/
Calendar event / 13 March 2019 at 12:30 GMT
US Advance Report on Durable GoodspreviousforecastactualHigh Durable Goods-SA, M/M%+1.2%-0.6%+0.4%High Dur Goods, Ex-Defense, M/M%+1.8%+0.7%High Dur Goods, Ex-Transport, M/M%+0.1%-0.1%Med Orders: Cap Gds, Non-Def, Ex-Air, M/M%-0.7%+0.8%Med Shipmnts: Cap Gds, Non-Def, Ex-Air, M/M%+0.5%+0.8%