On Tuesday, the most important event of the week and of the month is due – Fed’s Interest Rates Decision that is going to be published at 8 pm (all times stated in GMT +2). Investors are trying to guess what move the US regulator is going to make, however the number of optimists suggesting the rate is going to be increased is small. There is no unity between the members of the FOMC neither, as some propose to start hiking rates this year while others suggest postponing the decision until 2016. Let us remind that currently the key interest rates in the US stands at 0.25%. Labour market conditions stabilised but low inflation prevents the regulator from starting with monetary policy tightening. Attention also needs to be paid to the FOMC commentaries that could contain some hints of future monetary policy plans.
The RBNZ Interest Rate Decision is due at 10 pm. The rate is also expected to stay unchanged at its current 2.75%. On Wednesday night at 1:50 am, Industrial Production data for September is due in Japan. The index is forecasted to decline by 0.5% that could weaken the Yen against its major competitors.