Morning Juice – US Session Prep

Morning, Traders!
It is Wednesday the 18th of September, the day of the highly anticipated US interest rate decision, which is released with the latest Summary of Economic Projections.
Here are some things to look out for today.

Sentiment
US equities futures rose slightly as a cautious tone persisted throughout global markets ahead of the Fed’s interest-rate announcement.

Traders are split on whether the US central bank will announce a 25 or 50 basis point cut later today, with market-implied odds currently indicating a 55% possibility of the larger move.

Contracts on the S&P 500 rose less than 0.2%, with the benchmark down approximately 0.5% from its July peak. Europe’s Stoxx 600 index fell.
The Dollar fell near its lowest level since January, while Treasury yields edged higher.

Investors expect the Fed to loosen policy enough to respond to recent signals of economic weakness, without raising concerns that circumstances are worse than markets believe.

Docket
08:30 ET
US Housing Starts Number
Median Forecast: 1.318M | Prior: 1.238M | Range: 1.4M / 1.218M

10:30 ET
US Weekly EIA Crude Oil Inventories
Median Forecast: -0.1M | Prior: 0.833M | Range: 1.1M / -2.6M

13:30 ET
BoC Meeting Minutes

14:00 ET
US Interest Rate Decision – Prep Article Here
Median Forecast sees a 25 bps cut to 5.25% from 5.5%

FOMC Rate Statement

FOMC Summary of Economic Projections

Speakers
14:30 ET
FOMC Press Conference with Chair Powell

Good luck!