Stocks Mixed Ahead Of Fed Decision
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Today’s Market Summary
- The Dollar strengthening has halted
- Futures on three main US stock indexes are up
- Brent is edging lower currently.
- Gold prices are inching up currently
Top daily news
Global equity indexes are trading in different directions currently after Wall Street dipped on Tuesday amid mixed earnings reports. Amazon shares slid 0.76% despite UBS raising its price target for Amazon to $271 from $249 and maintaining a “Buy” rating on the stock the previous day, Alphabet shares rose 1.56% on Tuesday, outperforming the market.
Forex news
| Currency Pair | Change |
| EUR USD | +0.1% |
| GBP USD | +0.1% |
| USD JPY | -0.2% |
| AUD USD | -0.2% |
The Dollar strengthening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.26% on Tuesday.
Both EUR/USD and GBP/USD slowed their slide yesterday while the Bank of England reported lenders issued more mortgage loans to individuals in June. Both the Pound and the euro are higher against the dollar currently. USD/JPY reversed its climb while AUD/USD slowed its slide on Tuesday, with the yen higher against the Greenback currently and the Australian dollar lower still.
Stock Market news
| Indices | Change |
| Dow Jones Index | +0.1% |
| Nikkei Index | -0.03% |
| Hang Seng Index | -0.6% |
| Australian Stock Index | +0.5% |
Futures on three main US stock indexes are up currently ahead of the Federal Reserve interest rate decision at 20:00 CET. Investors expect the central bank will hold interest rates steady. Stock indexes ended lower on Tuesday, recording daily losses in the range from -0.46% to -0.3% while JOLTS data showed US job openings and hiring decreased in June, indicating a further slowdown in labor market activity.
European stock index futures are mixed currently after closing up on Tuesday as the International Monetary Fund raised its expectations for the euro area economy, saying it was now forecasting 1% growth this year. Asian index futures are mixed today, with Australia’s All Ordinaries ASX 200 Index leading gains as second-quarter CPI data showed inflation slowed in Australia, supporting views of a 25 basis point rate cut by the Reserve Bank of Australia in August.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | -0.2% |
| WTI Crude | -0.2% |
Brent is edging lower currently. Prices rallied more than 3% yesterday ahead of the American Petroleum Institute report US crude stockpiles rose by 1.54 million barrels last week. The Energy Information Administration (EIA) will release its US crude oil inventory data at 16:30 CET today. The US oil benchmark West Texas Intermediate (WTI) jumped 3.75% but is currently lower. Brent surged 3.5% to $72.51 a barrel on Tuesday.
Gold Market News
| Metals | Change |
| XAUUSD | +0.2% |
Gold prices are inching up currently. Spot gold reversed its retreat on Tuesday: it rose 0.37% to $3326.67 an ounce.
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