A very busy week for monetary policy with Fed and BoE policy meetings (both Thursday) plus the RBA (Tuesday). While the Fed is expected to leave policy unchanged the BoE and RBA are expected to ease policy further. The ECB’s webinar on the strategy review will also be in focus. In EM, we have rate meetings in Poland, Hungary, the Czech Republic and Malaysia. Minutes from this week’s Copom meeting in Brazil will also be released.
This article is only available to Macro Hive subscribers. Sign-up to receive world-class macro analysis with a daily curated newsletter, podcast, original content from award-winning researchers, cross market strategy, equity insights, trade ideas, crypto flow frameworks, academic paper summaries, explanation and analysis of market-moving events, community investor chat room, and more.
Monetary Policy
A very busy week for monetary policy with Fed and BoE policy meetings (both Thursday) plus the RBA (Tuesday). While the Fed is expected to leave policy unchanged the BoE and RBA are expected to ease policy further. The ECB’s webinar on the strategy review will also be in focus. In EM, we have MPC meetings in Poland, the Czech Republic and Malaysia, while Hungary’s one-week depo rate will be closely watched on Thursday. Minutes from this week’s Copom meeting in Brazil will also be released.
Data
PMIs will be released across the world at the start of the week. Europe’s PMIs should confirm the recovery in the goods economy versus renewed stress in services, while in China last month’s Golden week holiday likely buoyed the service sector. German IP and factory orders are also due later in the week. In the US, the labour market is in focus with Friday’s NFP release, plus ADP and claims earlier in the week. In EM, South Korean exports are expected to drop back on an unfavourable working day effect. Inflation data are due in South Korea, Turkey and Russia.
Events
US Election! Plus Brexit talks will continue and the EC will release its updated forecasts for Europe.
Caroline Grady is Head of Emerging Markets Research at Macro Hive. Formerly, she was a Senior EM Economist at Deutsche Bank and a Leader Writer at the Financial Times.
(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)