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Global Stocks Mixed as Investors Await Federal Reserve Meeting

Yaron Mazor
Updated
The Federal Reserve is expected to raise its interest rate today, but its outlook via the Monetary Policy Statement is unknown.

The U.S Dollar has been firm in trading the past day. Australian Consumer Confidence has improved. Politics in the U.K have arisen again regarding the Brexit.

Busy Day Awaits U.S Investors, Fed Outlook a Key Today

It will be a very busy day for U.S investors. The Democratic Party scored a surprise win in the Senate yesterday via an election in Alabama. Later today, the Federal Reserve is expected to raise its interest rate by a quarter of a point, but its outlook for other potential hikes remains unknown and investors will read through the Fed’s Monetary Policy attentively. Also, Core Consumer Price Index data will be published in the U.S. Wall Street saw the Dow Jones Industrials finish above 24,500 on Tuesday.

Australian Consumer Sentiment Improves, Asian Equities Declining

The Westpac Consumer Sentiment reading from Australia produced a solid gain of 3.6% earlier this morning. However, Asian equities have largely declined, with the Hang Seng the only Index producing gains. The Yen has largely traded in place and is near 113.40 against the U.S Dollar. Industrial Production numbers will come from China tomorrow and affect investor sentiment.

Another Fight for Theresa May Developing, U.K Claimant Counts Data

Prime Minister Theresa May faces another important political fight today as Parliament votes on its ability to have a final say regarding the Brexit. The Pound has traded in a rather tranquil manner but is testing short-term lows. Jobs data will come from the U.K today via the Claimant Count statistics. Tomorrow the Bank of England and European Central Bank will release their monetary policy statements.

Inflation Data Doesn’t Help Gold, Headwinds for the Precious Metal

Gold has been quiet this week but continues to idle near crucial support levels around 1243.00 U.S Dollars an ounce. Inflation data from the U.S met expectations yesterday, and the precious metal may continue to face headwinds.

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U.K Jobs Data on Schedule, U.S Federal Reserve Later Today

Investors will get important data early today via the U.K’s Average Earnings Index at 9:30 GMT.

  • 9:30 AM GMT U.K., Average Earnings Index

  • 13:30 PM GMT U.S., Core Consumer Price Index

  • 19:00 PM GMT U.S, Federal Funds Rate

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

This article was originally posted on FX Empire

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