Subscribe to RSS

Markets rise on cautious optimism ahead of Federal Reserve decision

US stock markets advanced on Wednesday helped by rising oil prices. The dollar weakened, the ICE dollar index, a measure of dollar’s strength against a basket of six rival currencies, closed down 0.27%. The S&P 500 rose 0.9% to 1,995.31, led by energy stocks, utilities and consumer staples. Stocks traded in a range as investors were reluctant to make major bets ahead of Federal Reserve’s interest rate decision. Inflation data revealed consumer price index fell 0.1% in August after rising 0.1% in July. The monthly inflation fell for the first time since the start of the year, mainly due to 2% drop in energy prices. The inflation rose 0.2% year-over-year, below Fed’s target of 2%, with core consumer prices rising 1.8%. Market reaction to weak inflation data was consistent with “bad news is good news” pattern as low inflation performance may prevent the Fed from raising rates. At the same time short term Treasury yields closed slightly higher Wednesday after reaching record highs on Tuesday, indicating expectations for interest rate hike. Trading was thin with the trading volume at 6.03 billion shares on US exchanges, about 24% below the 20 day average. Trading today is expected to be volatile as the Federal Open Market Committee will announce its interest rate decision at 19:00 CET. According to CME Group’s FedWatch traders of fed funds futures are pricing in a 23% chance of rate hike. At 13:30 CET August current account balance, building permits and housing starts will be published in US. At the same time initial jobless claims and unemployment claims will be released. And at 15:00 CET Philadelphia Fed manufacturing index for September will be published. The tentative outlook is negative.

European stocks rallied on Wednesday propelled by pick up in merger and acquisition activity in beer industry. The euro strengthened against the dollar. The Stoxx Europe 600 rose 1.5%, recording the biggest gain in about two weeks. DAX 30 closed up 0.4%. SABMiller PLC jumped 19.9% in London after the British brewer of Miller Genuine Draft was approached about potential acquisition by rival Anheuser-Busch InBev, whose shares finished up 6.4%. In economic news inflation in the euro-zone unexpectedly fell in August as the final estimate of the annual rate of inflation was revised downward to 0.1% from an initial estimate of 0.2%. Today at 9:00 CET European Central Bank publishes its Economic Bulletin. At 10:00 CET euro-zone construction output for July will be released. And at 9:30 CET August retail sales will be published in UK. The tentative outlook is positive for the Pound.

Nikkei rose 1.4% today as yen weakened against the dollar and market sentiment was bolstered by continued gains on Wall Street and China’s markets. Tomorrow at 00:50 CET Bank of Japan monetary policy meeting minutes will be published.

Chinese stocks fell today with the Shanghai Composite Index closing down 2.1%.

Oil prices are rising today after rallying more than 4% on Wednesday following US Energy Information Administration report of 2.1 million barrels fall in crude supplies in the past week. Data also showed that total domestic oil production fell by 18,000 barrels last week to 9.12 million barrels a day.

Gold futures are rising today after recording the biggest gain in nearly a month on Wednesday as weak inflation data suggested that the Federal Reserve may refrain from hiking interest rates.

More Details

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

$50 Free Bonus Without a Deposit – Adamant Finance

$50 Free Bonus Without a Deposit – Adamant Finance(0)

Free $50 Forex No Deposit Welcome Bonus to all new Traders. Receive $50 for Forex Free Bonus Without a Deposit and test the terms on a real account, without transfering any money. Link:  $50 No Deposit Free Welcome Bonus Ending Date: 31 December 2018 Available to: All new Traders Bonus Offer: Free $50 Forex No

Binary Options Free Demo Trading Tournament – CBFinvest

Binary Options Free Demo Trading Tournament – CBFinvest(0)

Binary Options Free Demo Trading Tournament total 2000$ cash prizes. Any Spotoption brand can start offering immediately binary options Tournaments, without spending a fortune on programming and without waiting for months Link:  Binary Options Free Demo Tournament Available to: All Customers AMAZING FEATURES Rebuys – for Tournaments based on demo, the feature of Rebuys allows

Risk Free Trading plus Free Forex Signals – MarketsYes

Risk Free Trading plus Free Forex Signals – MarketsYes(0)

300% Forex Deposit Bonus Promotion and Forex Risk Free Trade plus Forex Free Signals All New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Bonus. Link:  300% Tradable Bonus Promotion Link:  Risk Free Trade plus Forex Free Signals Available to: All New and existing clients

50% Bonus of Every Deposit – Fort Financial Services

50% Bonus of Every Deposit – Fort Financial Services(0)

Up to 50% Bonus of Every Deposit to All New and Existing Traders. You Deposited $1000 on your account, chose a 50% bonus and got 500 extra dollars to the initial deposit amount. Link: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus Link: 15% Support Margin Bonus Link:  Profit

123% Tradable Deposit Bonus Promotion – FreshForex

123% Tradable Deposit Bonus Promotion – FreshForex(0)

Get 123% Tradable Deposit Bonus Promotion gives a real chance to start Forex trading with low investment and double return. Start efficient Forex trading with Tradable Bonus 123% Campaign. Link:  123% Tradable Deposit Bonus Promotion Link:  $5 Forex No Bonus Promotion Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: Get 123%

500 Cent Forex No Deposit Welcome Bonus – FortFs

500 Cent Forex No Deposit Welcome Bonus – FortFs(0)

Get 500 Cent Forex No Deposit Welcome Bonus 2017-2018 to All New Traders. Open a forex real trading account, pass the personal data verification procedure and get the 500 Cent Free Forex Welcome Bonus! Link:  Up to 50% Bonus of Every Deposit Link:  500 Cent Forex No Deposit Bonus Link:  15% Support Margin Bonus Available

$10000 Monthly Challenge Live Trading Contest – FXCM

$10000 Monthly Challenge Live Trading Contest – FXCM(0)

$10,000 Monthly Challenge Live Trading Contest Compete to Win Cash Prizes. The Contest only available to FXCM Mini Account clients Join the monthly Live Trading Contest by opening an FXCM Mini Account with as little as $50. Link:  $10000 Monthly Challenge Contest Available to: All Mini Account clients Contest offer: $10,000 Monthly Challenge Live Trading

$1000 Free No Deposit Forex Bonus – Grand Capital

$1000 Free No Deposit Forex Bonus – Grand Capital(0)

Contests for Forex trader Main Prize $1000 Free No Deposit Forex Bonus. The Contests main prize is $1000 Free No Deposit Forex Bonus with fully withdraw able profit Link:  $1000 Free Bonus‎ Trader Contest Link:  $500 Forex No Deposit Welcome Bonus Link:  Up to 444% Profit Receive for a single trade Link:  40% Forex Deposit

Up to $5000 Trading Credits Bonus Promo – HYCM

Up to $5000 Trading Credits Bonus Promo – HYCM(0)

25% Forex Credit Bonus Promo available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: 25% Forex Trading Bonus Promo Available on your deposits to New Clients only.

$20 Forex No Deposit  Bonus Promo Action – NPBFX

$20 Forex No Deposit Bonus Promo Action – NPBFX(0)

$20 Free No Deposit Bonus Promo action. $20 Free No Deposit Bonus Client must submit application of requesting the accrual of bonus funds with indicating the number of trading account by email  info@npbfx.com. Link:  $20 Free Bonus Promo Action Ending Date:  1 March 2017 Available to:   New Clients only Bonus Offer: $20 Free No Deposit

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories