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Real-time News
According to Nikkei: Toyota Motor (TM.N) has suspended operations at three plants in southern Japan, with the shutdown lasting until Friday.According to the Financial Times, the Bank of England is investigating the risks to Asian stock markets faced by major brokers.Shares of Indian IT company INFOSYS rose 3.3%.July 29th - Joe Kalish, chief macro strategist at Ned Davis Research, predicts the Federal Reserve will raise interest rates by September, making this weeks meeting crucial. With the market already pricing in a rate hike this year, Kalish asks rhetorically, "Why wait?" He believes a rate hike would solidify the Feds independence and enhance its credibility. However, he also points out that there are ample reasons to keep rates unchanged, including the latest inflation data and maintaining stable inflation expectations.On July 29th, BNP Paribas Markets 360 team expects the Federal Reserve to keep interest rates unchanged, "although the possibility of an unexpected rate hike cannot be completely ruled out." The banks baseline scenario is a rate hike in December, but "there is a significant risk that policymakers will strengthen inflation language in the FOMC statement, which would be tantamount to suggesting a September rate hike is on the agenda." Language regarding price stability will be a focus of discussion at this meeting, and the statement will reflect a willingness to act if necessary. However, even without such language in the statement, a September rate hike is not ruled out; conversely, the inclusion of such language does not guarantee a September rate hike. At the press conference, Warsh is expected to largely follow the pattern of June: a brief opening, concise answers, and very limited forward guidance. Assuming the statement is not significantly different from June, we believe the opening remarks will closely follow Warshs testimony to Congress, and his statements on inflation and labor data, the economic outlook, and his commitment to restoring price stability will also be consistent with his testimony.

Trading Strategies

Just starting out? Begin your trading education with our Foundational Trading Knowledge course. Learn about a variety of markets like foreign exchange, commodities and equities and how they operate. Discover the right trading style for you and get to grips with key trading processes and market psychology.

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