Fed expected to hold rates steady; Warsh may signal more hikes

What happened

Cnbc.com reported on Oct 27, 11:06 UTC that markets overwhelmingly expect no change in benchmark interest rates following September's increase, and that Warsh may point the way to more hikes. The report centers on benchmark interest-rate policy and market expectations. It was published by cnbc.com and carries the headline cited above.

Politics & Macro market context

As of Oct 27, 20:00 UTC the SPY ETF (tracks S&P 500) was $769.66 (rose 0.56% from the prior close), the UUP ETF (tracks US Dollar Index) was $29.12 (rose 0.38% from the prior close), the GLD ETF (tracks Gold) was $372.28 (rose 1.21% from the prior close) and the USO ETF (tracks WTI Crude Oil) was $163.88 (fell 1.41% from the prior close).

Related coverage

Forexlive published a piece titled "US October Richmond Fed -2 vs -2 expected" on Oct 27 noting regional manufacturing details. Yahoo ran a Dow Jones Futures item on Oct 27 saying the Fed and big tech are on deck. financefeeds.com carried a story on Oct 27 about the S&P 500 entering the Fed meeting with megacap reports due.

• Fed expected to hold rates steady, but Warsh may point way to more hikes — cnbc.com, Oct 27, 11:06 UTC
• US October Richmond Fed -2 vs -2 expected — Forexlive, Oct 27, 14:00 UTC
• Dow Jones Futures: Growth Stocks Rally, Tesla Clears Buy Point; Fed, Microsoft, Google On Tap — Yahoo, Oct 27, 21:44 UTC
• S&P 500: Fed Opens, 3 Megacaps Report by Thursday — financefeeds.com, Oct 27, 12:30 UTC
• Gold retreats on stronger dollar; traders brace for Fed — thehindubusinessline.com, Oct 27, 10:18 UTC

What to watch

The FOMC rate decision is scheduled Wed Oct 28, 18:00 UTC. Personal income and outlays / PCE (BEA) is scheduled Thu Oct 29 (time not confirmed). GDP (BEA) is scheduled Thu Oct 29 (time not confirmed). The ECB monetary policy decision is scheduled Thu Oct 29, 13:15 UTC.

• Wed Oct 28, 18:00 UTC — FOMC rate decision (US) (source)
• Thu Oct 29 (time not confirmed) — Weekly jobless claims (DOL) (US) (source)
• Thu Oct 29 (time not confirmed) — Personal income and outlays / PCE (BEA) (US) (source)
• Thu Oct 29 (time not confirmed) — GDP (BEA) (US) (source)
• Thu Oct 29, 13:15 UTC — ECB monetary policy decision (EU) (source)
• Fri Oct 30, 12:30 UTC — Employment Cost Index (US) (source)

Sources and data

• cnbc.com (secondary source) — Fed expected to hold rates steady, but Warsh may point way to more hikes
• Forexlive (secondary source) — US October Richmond Fed -2 vs -2 expected
• Yahoo (secondary source) — Dow Jones Futures: Growth Stocks Rally, Tesla Clears Buy Point; Fed, Microsoft, Google On Tap
• financefeeds.com (secondary source) — S&P 500: Fed Opens, 3 Megacaps Report by Thursday
• thehindubusinessline.com (secondary source) — Gold retreats on stronger dollar; traders brace for Fed
• Finnhub (market data) — market data
• U.S. Treasury and Federal Reserve Board via FRED (primary source) — Yields and dollar index
• Federal Reserve (primary source) — calendar
• U.S. Energy Information Administration via FRED (primary source) — calendar
• European Central Bank (euro reference rates) (primary source) — calendar
• U.S. Bureau of Labor Statistics (primary source) — calendar
• Bank of England (primary source) — calendar

Market data as of Oct 27, 20:00 UTC; report generated Oct 28, 04:40 UTC. All times are UTC. Each table row shows its own timestamp and provider.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.