The week ahead

The focal point next week will be the FOMC policy announcement on Wednesday. The market expects the fed funds rate to remain unchanged at 2.00%, but uncertainty remains & the wordings of the policy directive will be closely watched. In addition, market players will also be keeping a close eye on economic data. The consumer confidence, durable orders, new home sales, existing home sales, and personal income and spending reports just to name a few. With Friday's steep losses on Wall Street, the Nikkei will face some head winds into next week. This might mean that the N225 Aug Puts will start to look attractive again & can be considered for adding into the positions to complete the Aug's income set up. Should the index at any point bucks the trend, it will be present a good opportunity to take on additional N225 Sep Calls.