After a strong jobs report in April, it is almost 100% certain the Federal Open Market Committee will vote to hold the Federal Funds Rate between 4.25%-4.5% for the fourth straight meeting on Wednesday. However, it is Powell’s comments about the future economy that will have the biggest impact on rates and equity markets. Outside of the rate decision, it is a pretty quiet week.
Monday
10:00 AM The ISM Services PMI is expected to have fallen slightly to 50.3 in April
Tuesday
8:30 AM The trade deficit is expected to have grown to $129 billion in March
Wednesday
7:00 AM Mortgage demand and rates
2:00 PM The Federal Open Market Committee is expected to hold rates between 4.25%-4.5%
2:30 PM Powell Press conference
3:00 PM Total consumer credit is expected to have risen by $7 billion in March
Thursday
7:00 AM The Bank of England is expected to lower its rates to 4.25%
8:30 AM Jobless claims are expected to fall to 235k
12:00 PM Mortgage Rates
11:00 PM China’s trade surplus is expected to have fallen to $70 billion in April
Friday
9:30 PM China’s inflation rate is expected to be zero in April
