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FOMC: Solid growth vs weak inflation calls for more patience - Standard Chartered
Sonia Meskin, US economist at Standard Chartered, suggests that the US economy has remained comparatively insulated from the recent global growth slowdown, but core inflation has declined which are potentially acting a dilemma for the FOMC.
“We believe that both the May FOMC statement and press conference will aim to address this dilemma in the near term, with an emphasis on the Fed’s current “patient” stance with respect to upcoming data. In fact, the May FOMC event may be a good example of both the advantages and drawbacks of having a press conference at every meeting. On the plus side, the Chair will have the opportunity to address recent money-market volatility. On the other hand, the Chair will likely be asked about the possibility of “pre-emptive” cuts to address weak inflation despite above-trend growth. We expect the Chair to demur on this front and to stress “patience” as the FOMC monitors domestic and global data.”
Outlook for UK's manufacturing sector looks challenging - ING
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Market focus
- German factory orders unexpectedly fell in October
- BOJ's Harada says no need to take additional policy steps
- Eurozone construction activity continues to grow in November
- Eurozone GDP up by 0.2% during the third quarter, as expected
Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.
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Pacific | Wellington | 19:00 | 04:00 | 22:00 | 07:00 | 22:00 | 07:00 |
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Pacific | Sydney | 21:00 | 06:00 | 00:00 | 09:00 | 00:00 | 09:00 |
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Asian | Tokyo | 23:00 | 08:00 | 02:00 | 11:00 | 02:00 | 11:00 |
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Asian | Hong Kong, Singapore | 00:00 | 09:00 | 03:00 | 12:00 | 03:00 | 12:00 |
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European | 06:00 | 15:00 | 09:00 | 18:00 | 9:00 | 18:00 | |
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European | London | 07:00 | 16:00 | 10:00 | 19:00 | 10:00 | 19:00 |
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American | New York | 12:00 | 21:00 | 15:00 | 00:00 | 15:00 | 00:00 |
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American | Chicago | 13:00 | 22:00 | 16:00 | 01:00 | 16:00 | 01:00 |