NEXT WEEK .. FED and US Q2 GDP .. GOLD on its way to $2000 The Federal Reserve interest rate decision on Wednesday will be carefully watched by analysts and investors alike. No change in rates is expected.
"The economic outlook remains uncertain, so they are likely to retain a cautious tone and stand willing to do more in the future if required. They may well also signal a change in their forward guidance is coming with a tolerance of overshooting the 2% inflation target - a potential key shift in their strategy from September," said ING chief international economist James Knightley.
Another important release next week will be U.S. Q2 preliminary GDP data, scheduled for Thursday. The market consensus forecast is pricing in to see a decline of 35%.
Other key macro releases next week include the U.S. durable goods on Monday, the CB consumer confidence on Tuesday, the U.S. pending home sales on Wednesday, the U.S. initial jobless claims on Thursday, and the U.S. PCE price index data on Friday.