FOMC and more Trump in the US docket – UOB

FX Strategists at UOB Group revised the upcoming salient events in the US calendar ahead in the week.

Key Quotes

“The Federal Reserve will be the central bank of attention as it will be the only major central bank with monetary policy decision this week on 25/26 July but there is little expectations of any rate hike taking place in July and it is also without a scheduled press conference from FOMC Chair Yellen or any updated economic forecasts”.

“Post-FOMC decision, Minneapolis Fed President Neel Kashkari (voter in 2017 FOMC) is the only Fed Reserve official speaking in public in a town hall on Friday”.

“President Donald Trump nominated Randal Quarles to the Federal Reserve board, filling in the role of regulator of the US banking system, a role vacated by former Fed Governor Daniel Tarullo, and Quarles will have his nomination testimony before the Senate Banking Committee on Thursday”.

“Attention will also be on US domestic politics as US lawmakers may be voting on a bill to repeal Obamacare (without replacement) this week (24-28 July) whilst the key event would be the closed door interview of Jared Kushner, son-in-law of US President Trump, by the US Senate Intelligence Committee”.