!!!The main weekly data: FOMC meeting, GDP, Chicago PMI.[E]

Forthcoming week unlike a week leaving will bring lots of important
news.
The major weekly data crimping on further USD moves will undoubtedly
become FOMC meeting and the text of accompanying statement. Nevertheless
the existed speculation Fed can boost it's borrowing costs mainly on 50 b.p. at it's meeting this week, we believe that it's rather implausible as central bank prohibits gradual raise and doesn't want to worry market with such high lift.
As the history testifies, Fed representatives as a rule, hint markets
with decisions which will be accepted to recognize at the nearest
meeting FOMC. Despite of numerous hints on inflation overflow " from a
comfortable level" nothing speaks that Fed will be compelled to undertake so radical measures.
Besides, rates hike on 50 b.p. can damage economy growth and won't
significantly impact inflation. Thus, the possibility of such move makes now 12%. The same time interest-rate futures show traders fully priced of an key rates move on 25 b.p. at June 29. There's an 83% chance of another quarter-point rate boost in August. Remind that prior week estimated
such possibility in 67%. Week will open Tuesday report on U.S. Consumer Confidence which awaited with insignificant decrease in June to 103.0 versus prior data in 103.2
An ambiguous situation in the US real estate will bring extra interest
on Housing for May both on primary and on secondary markets. New Home
Sales are expected at a level 1150K against 1198K in April, and Existing Home Sales on a mark 6.62M against 6.76M.
The significant interest will be placed on final GDP(USW, quarter). The main indicator expects on +5.6%, that above preliminary one 5.3%.
Chain Deflator should also be seen. This indicator will possibly stay
on 3.3%.
On Friday June Chicago PMI Chicago PMI диаграмма will be highlighted.
It's awaited with decline to 59.0 versus 61.5 in a prior months.
May data on Personal Income and Personal Spending will also be
published.
Besides the certain interest will be placed on preliminary estimation
of CPI across Germany and Japan, May Retails in Germany and Great
Britain , Employment data in the largest economy of the Europe, and also June business climate by economic research institute IFO