Central bank watch will intensify this week, as we get the Fed and the Bank of Japan announcing their latest policy decisions.
After the ECB’s hawkish cut last week, the focus in Europe will now turn to the outcome of the European elections, and the political shift to the right in the EU, along with a surprise snap French election. This has weighed on the euro and European stocks at the start of this week. Dollar is king once more As we start a new week, there has been a major shift in global interest rate expectations.
Dot plot in focus The FOMC meeting on Wednesday looms large for financial markets this week. The key question that the market wants to know is whether interest rates are restrictive enough, especially with the much stronger than expected payrolls report for May and a recovery in the ISM service sector survey. The Fed will also release their latest economic projections, and also their latest Dot Plot at this week’s meeting. Both will be watched closely.
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