What will Powell say and what to expect from the GDP in the States?
Dear traders,
At 16:30 MSK the US Commerce Department will publish revised figures on third-quarter economic growth.
The data is expected to show that the economy grew at a 3.6% annual rate in the three months ending Sept. 30, a slight upward revision from a preliminary estimate of 3.5%.
And in the evening, at 20:00 Moscow time, the statement from Federal Reserve Chair Jerome Powell is expected, who will be speaking at the Economic Club of New York.
Speeches from Fed Vice Chair Richard Clarida, Atlanta Fed President Raphael Bostic, Chicago Fed President Charles Evans, Kansas City Fed President Esther George, and New York Fed President John Williams will also be in focus..
Their speeches will be useful for investors who have been scaling back their expectations for future rate hikes following recent remarks from a number of Fed officials that were interpreted as dovish.
A fourth rate hike for this year is expected next month, though cautious comments by Fed officials about the global economic outlook suggested the central bank could slow the pace of its monetary policy tightening cycle. (Investing.com)
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