What is expected from this week’s markets?


What is expected from this week’s markets?

This week, the global markets will be under the effect of Fed decisions and the US growth data. Growth in the US economy was likely to gain momentum in the second quarter as consumer spending in the country recovered after a period of stagnation at the beginning of the year. The GDP data of the US will be announced two days after the Fed meeting, where officials are expected not to make any changes on the current benchmark interest rates.

As the Federal Open Market Committee (FOMC) evaluates the inflation position in an environment where there is a strong labor market in the US, changes in interest rates are not expected. Economists will examine the clues that the Federal Open Market Committee will give to how the reduction of the balance sheet will be done. This week Central banks of Russia, Brazil, Colombia, Pakistan, Turkey, Nigeria and Ghana will also declare their final decisions about the interest rates.

The United Kingdom is starting trade talks with the US after Brexit. Negotiations in Washington will closely watch the administrations of the two countries trying to reach agreement on differences in data confidentiality, food security and financial regulation.

Apart from all these events, the global banks such as Credit Suisse, Deutsche Bank, Nomura, BNP Paribas and UBS will be included in the profit statement this week, along with the technology companies such as Alphabet, Amazon, AT & T, Twitter and Facebook.


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