Weekly Outlook: FOMC Meeting and Turmoil in Commodities

 

A big week ahead as the Federal Open Market Committee (FOMC) reconvenes on Tuesday. The FOMC meeting minutes release on Wednesday may offer some clarity regarding when to expect the inevitable rate move. On the commodities front, gold and copper prices dropped to 5 and 6-year lows respectively, and the Bloomberg Commodity Index hit a 13-year low.  Participants are poised to see how commodity markets react to last week’s difficulties.

Economic Calendar

Monday:

Durable Goods Orders 08:30 AM ET

Dallas Fed Mfg Survey 10:30 AM ET

 

Tuesday:

FOMC Meeting Begins 8:00 AM ET

S&P Case-Shiller HPI 9:00 AM ET

PMI Services Flash 9:45 AM ET

PMI Services Flash 9:45 AM ET

Consumer Confidence 10:00 AM ET

State Street Investor Confidence Index 10:00 AM ET

 

Wednesday:

Pending Home Sales Index 10:00 AM ET

FOMC Meeting Announcement 2:00 PM ET

 

Thursday:

GDP 8:30 AM ET

Farm Prices 3:00 PM ET

 

Friday:

Employment Cost Index 8:30 AM ET

Chicago PMI 9:45 AM ET

Consumer Sentiment 10:00 AM ET

 

Links

What commodity bear markets may mean for the economy (Economist)

Negative interest rates: an alternative to quantitative easing? (Wall Street Journal – Real Time Economics)

Copper and Gold hit all-time lows (Financial Times)

Why the Greece deal will lead to sustainable recovery (The Guardian)

Is economic mobility in America a myth? (Market Watch)

China’s financial prowess and plans to expand global ventures (New York Times)

U.S. Jobless claims falls to lowest level in 4 decades (Reuters)

Existing home sales and the housing market (New York Times)

 

 

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