Market Update

The Federal Reserve hiked its target interest rate by three quarters of a percentage point, as expected. Chair Jerome Powell said that the Fed could start to dial back rate hikes in future meetings, giving the economy a bit of a breather from punishing interest rate spikes that have slowed …

FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve’s decision to raise the policy rate by 75 basis points to the range of 3.75-4% following the November policy meeting.Key Quotes“If we overtighten then we have the ability with our tools to support economic activity.”“On the other …

The US Federal Reserve has raised interest rate by 75 basis points as expected. The US dollar as FOMC says will take into account the cumulative tightening.The EUR/USD pair is gaining momentum, above 0.9950 could test parity. The EUR/USD rose following the Fed’s decision to raise interest rates by 75 …

Gold prices have shot higher on a hint of dovishness in today’s interest rate statement and policy decision by the Federal Open Market committee. The vote was unanimous in favour of the policy whereby the Fed hiked by 75bps, setting the target range at 3.75% – 4.00%. Gold is up …

The US Federal Reserve on Wednesday announced that it raised the policy rate, federal funds rate, by 75 bps to the range of 3.75-4% following the November’s two-day monetary policy meeting. This decision came in line with the market expectation. This is the fourth Fed’s interest rate hike in a …

The euro remains stalled below 0.8625 for the second consecutive day. The market is calm ahead of the FOMC. On Thursday, the BoE is expected to deliver a “dovish hike”.The euro has remained trading within a narrow range against the British pound for the second consecutive day. The pair has …

Sunak has acknowledged that his country is dealing with “profound economic challenges,” and he is stepping in at a pivotal time as the country needs some stability. Sunak is feeling the pressure of trying to gain investors’ confidence following the financial fallout caused by last month’s controversial tax cuts.The markets …

The Dow Jones Industrial Average dropped 105 points, or 0.3%. The S&P 500 and Nasdaq Composite retreated 0.5% and 0.7%, respectively. So, Stocks fell Wednesday as investors await the Federal Reserve’s latest rate decision at the conclusion of its two-day policy meeting.The Fed is widely expected to announce a 0.75 …

The data published by Automatic Data Processing (ADP) showed on Wednesday that private sector employment in the US rose by 239,000 in October. This reading came in better than the market expectation of 193,000. September print of 208,000 got revised down to 192,000. Commenting on the data, “this is a …

European shares started trading higher on Wednesday, boosted by the rise of the Danish pharmaceutical company Novo Nordisk, while hopes were raised that the Federal Reserve may hint at a slowdown in the pace of monetary tightening at its meeting later on Wednesday. The pan-European STOXX 600 index rose 0.3 …