The three major US stock averages fluctuated between small gains and losses on Wednesday, attempting to rebound from Tuesday's weak session, when concerns over lofty AI valuations weighed on sentiment while earnings remained in focus. The tech sector stayed under pressure, while materials and energy outperformed. AMD slipped 1.7% after issuing a revenue forecast that failed to impress investors, and Super Micro Computer tumbled 7.3% following a weaker-than-expected earnings outlook for the current period. Palantir Technologies extended losses, falling 2.3%. Nvidia edged down 0.2%, while...
The USD/CHF pair gains ground to around 0.8770 during the Asian session on Wednesday, bolstered by the renewed Greenback demand. The US Federal Reserve (Fed) interest rate decision will take center stage on Wednesday, with no change in rate expected. The attention will shift to the Swiss National Bank (SNB) policy meeting later on Thursday. Market consensus suggests that the Fed will keep its federal funds rate unchanged at the current range of 4.25% to 4.50%. Traders will focus on the Press Conference and Summary of Economic Projections (SEP), or ‘dot-plot,' for more cues about the future...
GBP/USD lurched higher on Wednesday, tapping 1.2985 in intraday trading after the Federal Reserve's (Fed) latest rate call came in broadly as expected, with the Fed keeping rates steady at 4.5%. Markets broadly anticipated another hold from the Fed but are looking for signs that the Fed will continue to deliver rate cuts if the US labor market continues to break down. According to the Fed, growth expectations for 2025 have been severely hampered by the Trump administration's policy approach of announcing then walking back trade tariffs via social media posts. The Federal Open Market...
The US Dollar Index (DXY) initially gained traction near 104.00 after the Federal Reserve decided to keep its benchmark interest rate at 4.5%, maintaining a cautious stance amid evolving inflation and economic conditions. The latest FOMC dot plot revealed that policymakers expect a median rate of 3.875% for the current period, down from the prior 4.375%, reinforcing expectations of future rate cuts. Looking ahead, the Fed revised its 2025 rate forecast lower to 3.375%, a signal of potential policy easing in response to slower economic growth and elevated inflation projections. GDP...
EUR/USD climbs post-Fed, as policymakers keep rates unchanged but hint at a slower balance sheet runoff starting in April.Inflation remains "somewhat" elevated, with the Fed revising PCE and Core PCE higher, while GDP and unemployment estimates were lowered. Fed Governor Waller dissents, favoring an unchanged pace of balance sheet reduction, as markets digest mixed policy signals.The EUR/USD spkied on Wednesday after the US Federal Reserve decided to keep interest rates unchanged despite adopting a slightly hawkish approach to the future path of interest rates. At the time of writing, the...
USD/JPY hovers near 149.37, little changed after the Fed keeps rates unchanged but slows balance sheet reduction.Inflation remains "somewhat" elevated, with the Fed revising PCE and Core PCE higher, while GDP and unemployment estimates were lowered.Fed Governor Waller dissents, favoring an unchanged pace of balance sheet reduction as markets digest mixed policy signals.The USD/JPY pair climbs on Wednesday after the Federal Open Market Committee's (FOMC) decision to keep rates unchanged. Even though officials turned cautious on rates, the US Dollar (USD) failed to rally sharply. The pair...