Economic Calendar: BoE and Fed Meetings, Apple Earnings, and US Labour Data


On Wednesday (21:00 GMT+3), the Federal Reserve will announce its interest rate decision. Analysts' opinions are divided. Some believe that the surge in bond yields signals that the Fed will likely keep the rate at 5.5%. Others say strong GDP and PCE data released on Friday strengthened the case for the Fed to keep rates higher for an extended period. Therefore, one more rate hike may occur before this tightening cycle is over. The hawkish tone of the central bank may contribute to the growth of the US dollar and decline in the S&P 500 index, which has fallen over 10% since late July when it reached a one-year-high.

On Friday (15:30 GMT+3), American labour market data will be released. Last month, the NFP release reflected the strongest job gain in eight months. This month, analysts forecast a more moderate growth, but it’s still consistent with a robust labour market, while the unemployment rate should remain unchanged. If the data disappoints market participants, the US dollar may weaken.

On Thursday (after the bell), Apple's (AAPL) earnings report will be out. The company's shares have surged around 29% this year. AAPL stock has heavy weighting in the Nasdaq and S&P 500 indices, and it has the potential to take the market in one particular direction. Demand updates on the new iPhone 15 will be closely monitored by market participants.

On Thursday (15:00 GMT+3), the Bank of England will announce its interest rate decision. Although the BoE is expected to maintain the existing 5.25% rate, comments from the Bank will be critical. Analysts believe policymakers will once again claim the rates should remain at current levels for some time despite growing signs that the economy is stabilising. Any comments on future rate hikes may support the growth of the British pound.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Financial Market News

Weekly Market Wrap With Gary Thomson: NASDAQ’S NEW TOP, USD/CAD NEWS, WTI OIL, NVDA SHARES DECLINE Federal Reserve's 2024 Interest Rate Outlook: A Measured Descent Expected Weekly Market Wrap With Gary Thomson: EUR/GBP’s NEW HIGH, US INFLATION, S&P500 FORECAST, BRENT CRUDE Sterling Makes Modest Gains Following Cabinet Reshuffle by PM Rishi Sunak Bank of England Initiates Stress Test In Aftermath of Liz Truss Budget Disaster

Latest articles

Forex Analysis

EUR/USD, GBP/USD, USD/JPY Analysis: US Dollar Falls to Its Lowest Level Since Mid-August

EUR/USDThe euro strengthened on Monday as the dollar fell on expectations that the Federal Reserve will not raise rates again. Traders this week will have to weigh data on how the US economy performed in the third quarter, as


NASDAQ Composite Index Heralds a Fine Time for Tech Stocks

In the ever-fluctuating landscape of financial markets, the NASDAQ exchange, home to some of the world's most prominent technology stocks, has been a bastion of volatility over the past two years. This week, the NASDAQ index continues its upward trajectory,

Trader’s Tools

Fibonacci Retracement Strategies

Fibonacci retracements are a cornerstone in the toolkit of many traders, offering a mathematical approach to identifying potential areas where reversals may occur. This article delves into the intricacies of using Fibonacci retracements, covering everything from basic understanding to strategies

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.