Top 5 Things To Watch This Week By ShreeMcx.Com

Economic Calendar – Top 5 Things To Watch This Week

Escalating trade rhetoric will keep investors on their toes after President Donald Trump refused to endorse a G7 declaration calling for a reduction of tariffs, as he continued to lash out at traditionally close allies for allegedly treating the United States unfairly.

Trump said on Saturday he had instructed his representatives not to endorse the G7 communique and that his administration was considering imposing tariffs on automobiles, further raising the specter of a trade war that has unnerved Washington’s top allies.

2. Trump-Kim Summit

U.S. President Donald Trump and North Korean leader Kim Jong Un are expected to land in Singapore on Sunday within hours of each other in advance of a historic summit over the reclusive country’s arsenal of nuclear weapons.

The unprecedented meeting comes after weeks of sometimes-contentious discussions and was briefly canceled amid North Korean outrage over messaging from some U.S. advisers.

At stake at the summit are North Korea’s nuclear weapons and peace on the Korean Peninsula.

3. Federal Reserve Rate Decision

The Federal Reserve is almost certain to raise interest rates by a quarter point for a second time this year at the conclusion of its two-day policy meeting at 2:00PM ET (1800GMT) on Wednesday.

That would put the fed funds target range in a range between 1.75%-2.0%, inching closer to a neutral policy stance.

Fed Chair Jerome Powell will hold what will be a closely-watched press conference 30 minutes after the release of the Fed’s statement, as investors look for fresh clues on how he views inflation trends and the economy and how that will impact the pace of monetary policy tightening for the remainder of the year.

Another issue to watch will be Powell’s assessment of the growing external risk from an increasingly long list of sources, including a global trade war, and recent signs of emerging market turmoil.

4. European Central Bank Policy Meeting

In what has become one of the most keenly anticipated meetings in a long time, the European Central Bank (ECB) is likely to signal on Thursday that its €2.5 trillion easing program will end this year, a key move in dismantling crisis-era stimulus.

An announcement is due at 1145GMT (7:45AM ET) on Thursday, with a press conference by President Mario Draghi scheduled for 45 minutes after the policy decision.

Traders piled into the euro last week after hawkish comments from ECB Chief Economist Peter Praet fueled expectations that the central bank will reveal more about its plans for exiting its aggressive quantitative-easing program at its upcoming meeting.

5. Bank Of Japan Policy Announcement

The Bank of Japan (BoJ) is seen keeping policy on hold at the conclusion of its two-day rate review on Friday, including a pledge to keep short-term interest rates at minus 0.1%.

BoJ Governor Haruhiko Kuroda will hold a press conference afterward to discuss the decision.

Kuroda has previously said the central bank will telegraph to markets how it plans to exit from ultra-easy policy when conditions for hitting its price goal become robust.

There have been some indications recently that the BoJ is setting the ground to begin discussions on winding back its quantitative easing program due to the rising costs of the stimulus program.

 

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