Markets Are Paralyzed Ahead Of Two-Day FOMC Meeting

Strong reports from major U.S. companies are pushing indices higher. But the market is showing low volatility as investors took a temporary pause after a proposal from Joe Biden to raise taxes on corporations and individuals last week.

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The ECB released macroeconomic statistics on the change in assets on its balance sheet. The numbers have increased by more than 4 times, which is the highest growth rate in the last month. This scenario may have a negative impact on the euro, since the more money is printed, the cheaper the national currency is.

OPEC+ representatives started talking about a possible increase in oil supply, despite the growth of COVID-19 cases in India and Latin America. The oil price continued to rise on Tuesday, adding 0.82%. Crude Oil Inventories report is expected today, which may have a significant impact on the price change.

Asian stock markets are showing mixed dynamics. China's index CSI 300 increased by 0.26% while Japan's Nikkei decreased by 0.46%.

Boeing (BA), Shopify (SHOP), Facebook (FB), Spotify (SPOT), Qualcomm (QCOM), eBay (EBAY), Apple (AAPL) and Teva (TEVA) are reporting for Q1 2021 today.

Main market quotes:

S&P 500 (F) 4,186.72 -0.90 (-0.02%)

Dow Jones 33,984.93 +3.36 (+0.01%)

DAX 15,249.27 -47.07 (-0.31%)

FTSE 100 6,944.97 -18.15 (-0.26%)

USD Index 90.88 +0.07 (+0.08%)

Important events:

  • – Canada Retail Sales at 15:30 (GMT+3);
  • – ECB President Christine Lagarde Speech at 17:00 (GMT+3);
  • – Crude Oil Stocks at 17:30 (GMT+3);
  • – FOMC Interest Rate Decision at 21:00 (GMT+3);
  • – FOMC Press Conference at 21:30 (GMT+3).

Disclosure: This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, ...

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