Outlook on Week Ahead & Trading levels for 01.24.2023
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
The Week Ahead
By John Thorpe, Senior Broker
“The Week Ahead” next F.O.M.C. meeting is to be held Next Tuesday and Wednesday Jan. 31st – Feb . 1 as such we have entered the FOMC Board of Governors Blackout time frame. As discussed previously, no members may discuss policy until the rate announcement on Feb. 1st. so there shouldn’t be too many surprise moves that occur in the financial markets usually generated from speaking engagement commentary. Fed Chairman Powell had tested positive for Covid19 but is expected to attend the meeting either in person or remotely as his symptoms are mild.
Of note this week is Q4 GDP on Thursday @ 7:30 am CST and perhaps jobless claims for the week at the same time. This, if a surprise, could shake the financial markets a bit in the short run. Earnings will be the main cause of market movement until next weeks FED Meeting. The Busy Calendar includes Microsoft Tesla, IBM, Intel, American Airlines, Valero, Chevron and Haliburton. This is the Golden Week as China is celebrating it’s lunar New Year, the impact on volume may or may not be seen in some markets but not all. Plan your trade and trade your Plan
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