The Federal Reserve meeting will be the highlight of the coming week and while no change is expected officials are likely to hint that they are moving closer to scaling back stimulus measures.
Besides the Fed meeting, the U.S. economic calendar is light, with mostly updates on the housing market and some earnings.
Federal Reserve Meeting
The Fed will begin its two-day policy meeting starting Tuesday ahead of its policy announcement on Wednesday afternoon
Data on housing starts and building permits data are due out on Tuesday, followed by figures on existing home sales on Wednesday and data on new home sales is due for release on Friday.
Market watchers will also be looking at Thursday’s report on initial jobless claims
Wednesday’s Fed policy announcement will be the main directional driver for equity markets in the coming week. September, traditionally a weak month for the stock market, has so far seen the S&P 500 slip almost 2%.
Central Bank Meetings
The Bank of Japan, which also meets on Tuesday and Wednesday, is widely expected to keep policy steady.
The Bank of England is unlikely to change policy at its Thursday meeting but may indicate whether it still views inflation as transitory.
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