Employment data will also be released, which is another great reference for the five sessions that are about to begin.
Wall Street is preparing for a possibly volatile day this Monday, after concluding a week in positive territory, characterized by the strong rebound in technology companies. These companies will once again capture the market’s attention in the coming days with the presentation of its resultstogether with Federal Reserve (Fed) and employment reports.
Investor enthusiasm is supported by impressive growth figures in the United States, while inflation data, especially the PCE index, appeared to pave the way for further easing.
The U.S. economy saw more than 3% growth last quarter, and the core PCE index favored by the Federal Reserve fell below 3%. As such, analysts suggest the Federal Reserve will likely leave interest rates unchanged at its meeting this week, and expect that Jerome Powell convey a message similar to that of Christine Lagarde last week: that inflation appears to be heading toward the 2% target, that the soft landing is no longer a dream, and that the Federal Reserve will adjust rates, but the timing will depend on the data. Given this perspective, the expert points out that currency operators could react by selling the dollar.
Wall Street: the data that the market expects
Despite the importance of the Fed’s decision and Powell’s statements, The future course of US monetary policy will depend largely on economic data. The labor market is presented as a key variable, and the official employment report is expected on Friday, with a consensus that foresees a decrease in payrolls to 173,000 in January.
Likewise, this week will be full of great business results, in which those of Amazon and Apple are expected. In addition, the week will include the publication of the Job Offers and Labor Turnover Survey (JOLTS) on Tuesday, and the private employment report from the consulting firm ADP on Wednesdaywith an estimated creation of 135,000 jobs, compared to 164,000 in December.
Source: Ambito
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