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What to Watch: FOMC

MARKET INSIGHT

Focus on FOMC rate annc this afternoon at 1400ET, 75bp hike widely expected/priced in, Fed chairman Powell's press conference 30 minutes after the release (no summary of economic projections at the current meeting, next on Sep 20-21).

  • Data coming up at 0830ET
    • Durable Goods Orders (0.8%, -0.4%); ex-trans (0.7%, 0.2%)
    • Cap Goods Orders Nondef Ex Air (0.6%, 0.2%), ship (0.8%, 0.2%)
    • Retail Inventories MoM (1.1%, 1.0%)
    • Wholesale Inventories MoM (1.8%, 1.5%)
    • Advance Goods Trade Balance (-$104.3B, -$103.0B) followed by
    • Pending Home Sales MoM (0.7%, -1.0%); YoY (-12.0%, -13.5%) at 1000ET
  • Treasury auctions both at 1130ET:
    • US Tsy $24B 2Y FRN note auction (91282CFD8) at 1300ET
    • US Tsy $30B 119D bill auction.
  • Equities: Trading firmer at the moment, ESU2 +34.25 at 3957.5. heavy round of earnings releases, update after the bell
  • Cross asset: Spot Gold gains +5.03 at 1722.35, Crude firmer (WTI +0.97 at 95.96)

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