Scoreboard: Fed focus

All eyes will be on the US Federal Reserve this week as investors look for any sign of an imminent rate rise, while tensions in Iraq push the oil price higher.

Markets were reasonably quiet on Friday night, a few swings here and there, but broadly speaking it was comparatively quiet. Tensions in Iraq are obviously a causal factor in the regard. Another factor, of course, is the Fed meeting this week and investors are waiting to see what we get out of that. The expectation is that the Fed will taper again, another $US10 billion, but there is a good probability it will revise down its growth outlook as well. The rhetoric is going to be fascinating following recent ECB decisions and also posturing by the Bank of England.

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