Tuesday, January 30, 2018

Wednesday: FOMC Annoucement, ADP Employment, Pending Home Sales, Chicago PMI

by Bill McBride on 1/30/2018 07:46:00 PM

From Merrill Lynch on FOMC announcement:

The FOMC meeting on 31 January is likely to send a modestly hawkish signal, as FOMC officials become more convinced of the shift from the disinflation of 2017 and emphasize the momentum in the real economy. The FOMC will only have the statement to communicate updated views, as there is no press conference or Summary of Economic Projections (SEP). This will mark Janet Yellen's last FOMC meeting as Chair.
Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:15 AM, The ADP Employment Report for January. This report is for private payrolls only (no government). The consensus is for 195,000 payroll jobs added in January, down from 250,000 added in December.

• At 9:45 AM, Chicago Purchasing Managers Index for January. The consensus is for a reading of 64.0, down from 67.6 in December.

• At 10:00 AM, Pending Home Sales Index for December. The consensus is for a 0.4% increase in the index.

• At 2:00 PM, FOMC Meeting Announcement. The FOMC is expected to announce no change to policy at this meeting.