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What to expect from US FOMC meeting & the payrolls report this week?
Busy week from the U.S. FOMC, Payrolls report.
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The week ahead will be busy for the U.S. dollar.
The economic events over the week include the FOMC meeting during the week.
The markets expect to see no changes to interest rates at this week’s meeting.
However investors are likely to be clued into the Fed’s statement that could offer insights into the Fed’s forward guidance.
The FOMC meeting will not be followed up by a press conference.
The expectation for a rate hike at this month’s meeting is also low.
The Fed officials are expected to signal whether the next rate hike will happen at the June FOMC meeting.
In this basis, the Fed’s forward guidance will be a key factor for the markets.
Other economic data from the U.S. this week will include the ISM’s manufacturing PMI data.
Forecasts point to a 58.5 print on the index. This marks a slower print compared to 59.3 previously.
The core PCE data is also expected over the week. The payrolls report due on Friday.
Expectations are for a 4.0% decline on the U.S. unemployment and the number of jobs added during the month is expected to show an increase of 185k during the month.
