{"id":75790,"date":"2015-07-26T18:32:24","date_gmt":"2015-07-26T22:32:24","guid":{"rendered":"http:\/\/countingpips.com\/?p=75790"},"modified":"2015-07-26T18:32:24","modified_gmt":"2015-07-26T22:32:24","slug":"the-week-ahead-26-07-2015-fomc-meeting-solid-rebound-in-us-gdp","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/07\/the-week-ahead-26-07-2015-fomc-meeting-solid-rebound-in-us-gdp\/","title":{"rendered":"The Week Ahead 26.07.2015: FOMC Meeting, Solid Rebound In US GDP"},"content":{"rendered":"<div id=\"inves-2162721143\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 26, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By\u00a0<a href=\"http:\/\/GrowthAces.com\" target=\"_blank\">GrowthAces.com<\/a><\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" title=\"\" src=\"https:\/\/growthaces.com\/sites\/default\/files\/twa_26072015.png\" alt=\"Economic Forecasts And Calendar For Forex Traders\" width=\"676\" height=\"754\" \/><\/strong><\/p>\n<p><strong>EUR\/USD<\/strong><\/p>\n<ul>\n<li><strong>We are optimistic about the German Ifo index (on Monday, 08:00 GMT) <\/strong>and plan to get short on the EUR\/USD on the back of good reading. We have placed sell EUR\/USD order at 1.1080 and <strong>expect the USD to strengthen later this week<\/strong>on FOMC meeting and US GDP figures.<\/li>\n<li><strong>On Wednesday<\/strong> the Fed will end its fifth <strong>FOMC meeting<\/strong> of the year. It is widely expected that the Fed will not change rates this time. We expect <strong>a hawkish statement<\/strong> that may suggest a hike in September. Let us remind that Fed Chair Janet Yellen said last week that delaying the rate liftoff might mean faster hikes later and we know that is something the Fed certainly wants to avoid.<\/li>\n<li><strong>On Thursday<\/strong> the Bureau of Economic Analysis will release its advance estimate of <strong>second-quarter US GDP<\/strong>. <strong>We estimate that GDP expanded an annualized 2.7% in the second quarter<\/strong>, after contracting 0.2% in the first quarter. The main growth driver was most likely consumer spending. Net exports should have been slightly positive after strongly weighing on overall economic activity in the first quarter due to the port strikes.<\/li>\n<li><strong>Eurozone preliminary July inflation data will be released on Friday. Headline inflation probably stabilized at 0.2% yoy<\/strong>. We expect stronger rise in inflation at the turn of the year, when a significant base effect will push inflation above 1.0%. That is why the EUR\/USD is likely to go up in the fourth quarter this year.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>GBP<\/strong><\/p>\n<ul>\n<li><strong>GBP traders should focus on British second-quarter GDP data that will be released on Tuesday (08:30 GMT).<\/strong> We expect GDP growth of 0.7% qoq vs. 0.4% qoq in the first quarter. <strong>A good reading could be another reason for the market to continue the re-pricing of expectations towards an earlier hike.<\/strong><\/li>\n<li>The GBP depreciated against the USD and EUR at the end of last week. However, <strong>we expect the GBP to stay relatively strong in the short term and do not change our bearish outlook on the EUR\/GBP. <\/strong>We stay sideways on the GBP\/USD.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0GrowthAces.com EUR\/USD We are optimistic about the German Ifo index (on Monday, 08:00 GMT) and plan to get short on the EUR\/USD on the back of good reading. We have placed sell EUR\/USD order at 1.1080 and expect the USD to strengthen later this weekon FOMC meeting and US GDP figures. On Wednesday the Fed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-75790","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/75790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=75790"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/75790\/revisions"}],"predecessor-version":[{"id":75791,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/75790\/revisions\/75791"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=75790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=75790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=75790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}