RANsquawk Weekly G10 Central Bank Monitor can be accessed here

NORTH AMERICA

TUE 20 JUN 2017 - 1330BST: US CURRENT ACCOUNT BALANCE (Q1)

Forecast: The deficit is seen narrowing to USD 124.9bln vs a deficit of 112.4bln prior.

WED 21 JUN 2017 - 1500BST: US EXISTING HOME SALES (MAY)

Forecast: 5.55mln vs prior 5.57mln. Both new and existing home sales slipped in April,...

RANsquawk's Eco Week Ahead can be accessed here

FEDERAL RESERVE

• As expected, the FOMC hiked rates by 25bps to 1.00-1.25% – the second hike of 2017, and the fourth in the current tightening cycle. Minneapolis Fed President Neel Kashkari was the lone dissenter, once again.

• The revisions to its economic projections were mostly in-line with the market view: near-term growth was raised, but the Fed is more pessimistic than analysts in...

FEDERAL RESERVE

• A 25bps hike to the Federal Funds Rate target on 14 June 2017 is pretty much a done deal, with money markets pricing in a 99.6% chance that rates will be lifted for the second time this year to 1.00-1.25%. The real question is whether the Fed will maintain its “gradual” hike trajectory, which sees a total of tspanee rate rises per annum in 2017, 2018 and 2019.
• The FOMC will also update its economic projections, which aren’t likely to see any dramatic changes in...