Morning Traders!
It is Wednesday the 26th of July, and today we find out the results from the FOMC's latest policy meeting in the highlight of this session, the US interest rate, and rate statement.
For a dedicated prep article for this, CLICK HERE
Here are some things to look out for today.
Sentiment
A gauge of dollar strength traded in a narrow range this morning, and short-term Treasuries rose as investors awaited the Federal Reserve's latest interest-rate decision.
The Federal Open Market Committee is expected to raise interest rates by 25 basis points, the 11th increase since early 2022, though investors will be looking for clues about how determined the Fed is to raise rates again in 2023.
The yen led the G-10 gainers, while commodity currencies fell.
The industrial policy of US President Biden has sparked a global competition that is straining alliances, threatening budgets, and channelling unprecedented amounts of public money into private companies.
Docket
10:00 AM ET
US New Home Sales (Units) for June
Median Forecast: 0.725M | Prior: 0.763M | Range: 0.821M / 0.65M
10:30 AM ET
Weekly EIA Crude Oil Inventories
Median Forecast: -2.25M | Prior: -0.708M | Range: -1M / -3M
1:30 PM ET
BoC Meeting Minutes (Summary of Deliberations)
2:00 PM ET
US Interest Rate
Almost unanimously, analysts are expecting a 25 bps hike, bringing the US interest rate up to 5.5%
FOMC Rate Statement
For a dedicated prep article for this, CLICK HERE
2:30 PM ET
FOMC Press Conference with Fed's Chair Powell
Earnings
4:05 PM ET
Meta Platforms Q2 23 Earnings
Est. EPS: $2.92
Est. Revenue: $31.06 bln
Good luck today!
