Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.
The U.S. data point of the week is the Federal Reserve Open Market Committee meeting that begins Tuesday morning and ends Wednesday afternoon with a statement. Most believe the Fed will raise the key U.S. interest rate by 0.25%, following the recent 0.5% rate hikes. Trading in stock and financial markets early this week may be more muted ahead of the FOMC statement and press conference by Fed Chairman Jerome Powell Wednesday afternoon.
In overnight news, the Euro zone got some upbeat economic data as the European Commission’s economic sentiment indicator for January posted a reading of 99.9 versus 97.1 in December. The January gain marks the third straight monthly rise in the indicator. U.S. economic data due for release Monday is light and includes the Texas Manufacturing outlook survey.
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