Attention on Fed meeting

Financial markets will zero in on the Federal Reserve's interest-rate meeting in the coming week, even though analysts are all…

Financial markets will zero in on the Federal Reserve's interest-rate meeting in the coming week, even though analysts are all but unanimous that the Fed will leave rates on hold.

There is a very light sprinkling of second tier data in both the US and the UK while the euro zone will focus predominantly on German data which could shape expectations of the timing and magnitude of the next rate hike by the European Central Bank.

All market eyes, however, will be drilled on the Federal Open Market Committee (FOMC) on Tuesday. There is little economic data for the US market to get excited about. By contrast, the euro zone is awash with potentially market-moving economic indicators.

Interest rate expectations have been driven upwards in recent weeks, with speculation mounting that the European Central Bank could raise rates as early as August 31st by as much as 50 basis points. Germany's provisional Consumer Price Index for August is due on Wednesday and this will be watched to see if high oil prices are having an impact.

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MONDAY

Results: Netstore (final); Metal Bulletin (interim); NetCom (H1);Sydkraft (H1); Torex (interim); Swatch (H1); Lonza (H1); Novartis (H1); 4M Tech (H1); Algroup (H1).

A.G.M.s: Chelford (e.g.m.), LTG Technologies (e.g.m.).

Others: Launch and publication of Department of Agriculture, Food and Rural Development Agri-Food 2010 Plan of Action. Guinness strike ballot due. Opinion polls on Danes' attitude to joining the euro ahead of September 28th referendum.

TUESDAY

Results: Brown & Jackson (full year); Merant (full year); Financial Objects (full year); Thompson Clive Investments (interim); Scottish Media Group (full year); Bank Austria (H1); SAirGroup; Sika; Storebrand; SEB; Kvaerner.

Meetings: Federal Open Market Committee meeting. M-commerce conference on the impact and uses of mobile technology, Dublin Castle Conference Centre.

Indicators: Italian cities Consumer Price Index.

WEDNESDAY

Results: Waterford Wedgwood (H1); Aggreko (H1); Hilton (H1); Bodycote (interim); Gibbs & Dandy (interim); Countrywide Assured (H1); Domnick Hunter Group (interim); Macfarlane Group (interim); London & St Lawrence (interim); Nestle (H1); Crossair (H1); Schindler (H1); Austria Tabak; MeritaNordbank; Skanska; Randstad; SVC AG; VNU.

A.G.M.s: Feedback; RadioTrust (e.g.m.).

Indicators: German provisional Consumer Price Index for August.

THURSDAY

Results: Rolls Royce (H1); Hilton (H1); Clubhaus (interim); Cattles (H1); Keller Group (H1); Sulzer; Sulzer Medica; Agfa; ING; Swedbank.

A.G.M.s: Lamont; Trifast, Ivory & Sime Optimum.

Others: Publication of National Treasury Management Agency's annual report. Bord Bia releases results of first consumer research on organics market. Publication of Bord na Mona's annual report and financial statements. Launch of SendThemShopping.com online Irish gift voucher store. Second reading in Danish parliament of bill to allow the holding of September 28th referendum on membership of euro. Federal Reserve to release minutes from June 27th-28th Federal Open Market Committee meeting.

FRIDAY

Results: North Midland Construction (interim); Generali Textile (H1); Rieter (H1).

A.G.M.s: Barlo Group; Tullow Oil (e.g.m.); J & Dyson; Samuel Heath & Sons; IFTE (e.g.m.); Laird Group (e.g.m.).

Meetings: Annual conference of Corporate and Public Services Solicitors' Association, Radisson Hotel, Stillorgan Road, Co Dublin. The conference will look at "legal potholes and the latest technology". Group of 10 central banker's monthly meeting at Bank for International Settlements in Basel.

Indicators: UK trade figures.

Others: Deadline for Swiss companies and public authorities to hand over data on how they used forced labour in second World War and rejection of refugees trying to enter Switzerland at the time.