Economic News To Watch This Week
The Federal Open Market Committee (FOMC) is a committee within the Federal Reserve System (the Fed).Its mandate is to oversee the nation’s open market operations (i.e., the Fed’s buying and selling of United States Treasury securities). This Federal Reserve committee makes key decisions about Interest Rates and the growth of the United States money supply. You may also like to read this post about why do Central Banks hike or cut their Interest Rates Here.
The Federal Open Market Committee (FOMC) consists of twelve members, the seven members of the Board of Governors of the Federal Reserve System, the president of the Federal Reserve Bank of New York, and four of the remaining eleven Reserve Bank presidents who serve one year term. The Federal Reserve said their farewell to Janet Yellen who was the 15th Chairwoman of the Federal Reserve from the 3rd of February 2014 – the 3rd of February 2018. Her last meeting was on the 31st of January 2018. The newly appointed Fed Chair, Jerome Powell was sworn in on Monday the 5th of February and he hiked the Interest Rates in his March 2018 meeting and went on to hike 3 more times in 2018. President Donald Trump is not impressed with the pace at which the Fed Chair is hiking the Interest Rates.
How To Subscribe To This Blog:
To open your Live Account with one of the legit and FSB regulated brokers, choose from these brokers HERE. For further assistance, email me at firstname.lastname@example.org or WhatsApp me on +27 64 510 4132 / +27 76 966 9392 for instant chat. For private lessons, you can email, WhatsApp or enroll HERE. The first FOMC meeting of 2019 is on the 30th of January 2019. Below is the annual schedule FOMC. Thank you for stopping by and kindly share this post.
Bank Rate: 0.00%
President : Mario Draghi
Headquarters: Frankfurt , Germany
ECB’s President Mario Draghi started to serve as a President since November 2011 and previously served as the Governor of Bank of Italy from 2005 to 2011. He was also a Chairman of the Financial Stability Board from 2009 to 2011.
ECB is the Central Bank for the EURO and it administers Monetary Policy of the Euro Zone, which consists of 19 E.U member states. European Central Bank (ECB) press conference is held 8 times a year about 45 minutes after the Interest Rates decision is announced. It is also called the Interest Rate Statement. The conference is about an hour long and has two parts. First part is when the actual statement is read and the second part is opened for questions which then lead to the market volatility.
The tasks are to maintain Monetary Policy for the Euro, including the banking supervision. Their main objective is to maintain the price stability and to safeguard the value of Euro.
It is the leading indicator that provides the clues about the future Monetary Policy. High Volatility is often expected during the press conference and it has a direct impact on Euro pairs (I know for sure that my mentees and I are always looking forward to this one).
It’s been a while since ECB made some changes on their Interest Rates. The last time they changed was on March 2016 when they cut their Interest Rates from 0.05% down to 0.00%. Again on the 24th of January, they are expect to hold steady at 0.00%. The main focus is on what they are going to do next. Trading the Interest Rates is not only about the actual figures, but a lot more about the Central Bank’s next move on their Rates. We look out for either a hawkish or a dovish statement.
As promised, I will be publishing all significant economic news and provide their annual schedule for proper planning. Thank you for stopping by. Below is the European Central Bank’s annual schedule. Please kindly share this post.
It’s going to be a hectic week for GBP. Parliament will vote for Theresa May’s Brexit deal on Tuesday. The expected outcome is “Reject”. If the deal is rejected, we might see a crazy fall on GBP. I am so looking forward to the votes. I will be watching the polls closely as the markets are likely to react to the polls. Below is the economic calendar.