This week, investors’ main focus will be on the FOMC meeting on Wednesday.
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This article is originally referred from Orbex Market Preview.
The FOMC meeting minutes will stand out as the main event this week and is likely to overshadow the other economic releases over the week.
The FOMC meeting minutes cover the month of March which saw the central bank hiking interest rates to 1.75%.
The Fed also forecast that the path of interest rate hikes would remain at three rate hikes this year.
Investors will of course pay close attention to any potential surprises from the FOMC policy makers who continue to remain mixed on the inflation outlook as well as the labor market.
Besides the FOMC minutes, the U.S. PPI and CPI data are scheduled to be released this week.
Economists forecast that core CPI could rise above 2.0% on an annual basis in March.
However, investors continue to remain concern that an overshoot of inflation could spur the central bank into hiking rates more aggressively.
The stronger labor market and a modestly better economic growth alongside fiscal policies by the Trump administration and the tax cuts are factors worth considering when it comes to the pace of increase in consumer prices which are already close to the Fed’s inflation target rate.
Original Source: Orbex Market Preview