(MENAFN- ING) US: Housing numbers in focus after Fed's 75bp hike
After the Federal Reserve's 75bp rate hike this week and Jerome Powell's commentary that the Fed is prepared to sacrifice growth and jobs to ensure inflation comes back to target, we will be hearing from many more officials over the coming week. Given the strong clustering of near-term forecasts for rates and the economy, the hawkish comments hinting at another 75bp hike in November are likely to come thick and fast.
The data calendar is fairly light with housing numbers the main focus. With mortgage rates now firmly above 6%, more pain is coming in the housing market where a recession is already underway.
Eurozone: Higher inflation and unemployment rate expect to remain at 6.6%
Inflation figures will be the main focus in the eurozone. Expect higher prices partly due to Germany's decision to end cheap public transport tickets as of 31 August . The key will be to see how much other categories have continued to rise. Separately, unemployment data is out on Friday. We expect the labour market to have remained very tight with the unemployment rate stable at a historic low of 6.6% despite business hiring expectations sliding in recent months.
Key events in developed markets next week
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