FOMC meeting, macro data, corporate results on the radar

ON traders' radar this week that will set the direction for the local bourse - which enjoyed a stellar showing last week - are the US Federal Open Market Committee (FOMC) meeting, key macro data from major economies and the quarterly reporting season.

Although expectations are that the Federal Reserve will hold interest rates, the central bank's views on inflation and its signals on balance sheet reduction will be keenly anticipated.

"The two most important aspects of the July FOMC statement will be if and how the characterisation of inflation is revised, and whether officials use the meeting to signal that balance sheet reduction will be announced in September," said Citi Research.