Possible rate hikes on the horizon
WEEKLY MARKET COMMENTARY |
After the financial turmoil during the first three weeks of the year, the focus this week will turn to the Federal Reserve Open Market Committee rate decision. Investors will be hoping to see either an acknowledgement that possibly as many as four pending rate hikes may be reconsidered or that the economic risks linked to global turmoil have dissipated.
Investors will also be closely following the direction of oil prices and manufacturing data out of China as proxies for global growth. U.K, Spanish and French gross domestic product data for the final quarter of last year will be published this week, along with the latest estimate of euro area money and credit on Friday.
On the domestic front, a large slate of housing-related data will be reported this week, as well as initial jobless claims, durable goods orders and consumer sentiment estimates.