{"id":661322,"date":"2025-06-23T12:31:51","date_gmt":"2025-06-23T10:31:51","guid":{"rendered":"https:\/\/ftmo.com\/?p=661322"},"modified":"2025-06-23T14:17:54","modified_gmt":"2025-06-23T12:17:54","slug":"powells-testimony-and-us-gdp-data-could-shake-markets","status":"publish","type":"post","link":"https:\/\/ftmo.com\/en\/powells-testimony-and-us-gdp-data-could-shake-markets\/","title":{"rendered":"Trading Week Ahead: Powell\u2019s Testimony and US GDP Data Could Shake Markets"},"content":{"rendered":"
The final week of June brings a high-stakes macro storm<\/strong> that could jolt volatility across USD pairs, equities, and commodities. With Fed Chair Jerome Powell\u2019s back-to-back testimonies<\/strong>, fresh PMI readings<\/strong>, and a final Q1 GDP<\/strong> revision, traders are on alert for any shift in inflation sentiment and Fed trajectory.<\/p>\n Will Powell hint at easing or double down on inflation? Will growth data rattle markets or reinforce resilience? Here\u2019s what you need to know:<\/p>\n \u2022 PMI Data (Manufacturing & Services) \u2022 Fed Chair Powell Testifies<\/strong> \u2022 Final GDP<\/strong>
\n<\/strong>Fresh US PMI readings will provide key insight into the momentum of both industrial and service sectors. Manufacturing PMI is forecast to slow to 51.1 from a previous 52.0, while Services PMI is expected to ease to 52.9 from 53.7; both remain in expansion territory but signal a cooling pace. Any unexpected softness may fuel rate cut speculation and pressure the dollar, whereas resilience in these indicators could reinforce the Fed\u2019s cautious stance and support Treasury yields.<\/p>\n
\nAll eyes turn to Capitol Hill as Fed Chair Jerome Powell delivers testimony on Tuesday and Wednesday. With monetary policy at a turning point, traders will parse his words for dovish or hawkish undertones. Hints at policy easing may weaken the dollar and lift equities, while firm inflation concerns could support yields and the greenback.<\/p>\n
\nThursday\u2019s GDP revision is expected to confirm a -0.2% contraction in Q1, matching the previous estimate. While largely priced in, any unexpected revision could stir sentiment. A deeper contraction might fuel recession concerns, while a surprise upward adjustment could temper rate cut expectations.<\/p>\n