Global investors are still cautious for wednesday evening, which will see the Fed announcement at 18:00 GMT,followed soon after by the RBNZ rate statement at 21:00 GMT and then the BOJ later in the earlymorning hours at 5:00 GMT.
- Oil and GOLD: Oil rose on Tuesday. The stimulant behind the move is expectations that demand could grow quickly enough to match supply this year. Concerns over a potential battle for market share between Saudi Arabia and Iran as well as below average volume ahead of Wednesday’s Fed decision helped limit gains. US crude futures are trading at $44.56 in north american session.gold rally as triggered when the U.S. Dollar broke after the release of a weaker-than-expected U.S. Durable Goods report. Gains remained capped, however, ahead of the Federal Reserve policy meeting later today.
- Stocks: U.S. stocks finished nearly flat on Tuesday as the market absorbed a deluge of mostly solid earnings and awaited a policy statement from the Federal Reserve.The Dow Jones Industrial Average ended up 13.08 points (0.07 per cent) at 17,990.32. The broad-based S&P 500 rose 3.91 points (0.19 per cent) to 2,091.70, while the tech-rich Nasdaq dipped 7.48 points (0.15 per cent to 4,888.31).
- Currencies: The dollar closed 0.3-percent lower against a basket of major currencies as investors believed the weakness in the US economy would prompt the Fed to be cautious about raising rates.The GBP/USD pair continues to trade around a flat line below 1.46 handle, as we progress towards the European open, with markets awaiting fresh incentives from the first estimate of UK Q1 GDP figures.USD/JPY pair reversed a minor portion of yesterday’s losses and edged higher against its US adversary in the Asian trades, with market now awaiting fresh incentives from the Fed and BOJ policy outcomes.
Important note: These technical and research reports are provided to easy-forex® as a subscriber of third party providers. They are provided for informative purposes only and in no way can they be considered as a recommendation by easy-forex® to you to engage in any trade. Hence, easy-forex® shall not be held responsible for any outcome of trading decisions, in regards with these reports or similar reports. You hereby acknowledge that using the information entailed in these reports is at your sole responsibility and you will have no claims with regards to these reports against easy-forex®. If you do not agree to this, you are strongly advised not to use these reports.
Easy Forex Pty Ltd (AFSL 246566 ABN 73107184510) makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. Easy-Forex recommends that you read the Regulation Page, The Product Disclosure Statement, the Terms and Conditions and the Financial Services Guide before making any decision concerning Easy-Forex’s products.