Monday Market Must-Knows: June 19, 2023
What surprises may Jerome Powell's Senate testimony bring?
Last week, the Federal Reserve's Federal Open Market Committee (FOMC) meeting resulted in a pause in interest rate hikes, although some hawkish comments were made. Additionally, there were strong retail sales and long-term purchase numbers.
This week, the focus shifts to key speeches by Federal Reserve Chair, Jerome Powell, who will be testifying before the Senate subcommittee on monetary policy. Powell's scripted testimony will be followed by unscripted questions, potentially adding volatility to financial markets.
Other central banks are also making announcements, with the Swiss National Bank and the Bank of England expected to raise interest rates.
On Friday, manufacturing and services data will be released for various countries, providing insights into global economic strength and potential investment opportunities. While these numbers may not be market-driving, they may offer additional confidence for bullish investors or spark interest for bearish traders.
Overall, the upcoming week revolves around Powell's testimony, central bank actions, and manufacturing/services data releases, making it crucial for market participants to stay informed.
As always, if you’re in the markets, make sure you have a trade plan. Join us for a FREE introductory class. Learn about tools & rules for trading with confidence-so you can stay one step ahead of market volatility. Stay Informed, Start Knowing Today!
Last week, the Federal Reserve's Federal Open Market Committee (FOMC) meeting resulted in a pause in interest rate hikes, although some hawkish comments were made. Additionally, there were strong retail sales and long-term purchase numbers.
This week, the focus shifts to key speeches by Federal Reserve Chair, Jerome Powell, who will be testifying before the Senate subcommittee on monetary policy. Powell's scripted testimony will be followed by unscripted questions, potentially adding volatility to financial markets.
Other central banks are also making announcements, with the Swiss National Bank and the Bank of England expected to raise interest rates.
On Friday, manufacturing and services data will be released for various countries, providing insights into global economic strength and potential investment opportunities. While these numbers may not be market-driving, they may offer additional confidence for bullish investors or spark interest for bearish traders.
Overall, the upcoming week revolves around Powell's testimony, central bank actions, and manufacturing/services data releases, making it crucial for market participants to stay informed.
As always, if you’re in the markets, make sure you have a trade plan. Join us for a FREE introductory class. Learn about tools & rules for trading with confidence-so you can stay one step ahead of market volatility. Stay Informed, Start Knowing Today!