FOMC and global manufacturing PMIs in focus today – Danske Bank

Today's main event is the FOMC meeting tonight, but it is likely to be uneventful, according to analysts at Danske Bank.

Key Quotes

“We expect the Fed to maintain the target range at 1.75-2.00% and given it is one of the small meetings, there will not be any updated projections or press conference. The only piece of information we will get is the statement, but it does not change much from meeting to meeting.”

“US ISM manufacturing is due out at 16:00 CEST, where consensus expects a larger decline than we do. Regional PMIs have in general been strong.”

“Final PMI manufacturing data in the eurozone due. This is not expected to show significant differences from the flash.”

“The UK PMI manufacturing index is not expected to change much from last month. We expect a marginal decline while consensus expects a marginal increase.”

“We expect the German lawmakers' vote on the last Greek bailout instalment to be a formality.”