American stock markets fell today, as European stock indices witnessed a significant decline due to fears of a second wave of the Coronavirus pandemic. This potential return to crisis levels of infection could delay the global economic recovery that has been anticipated – or hoped for – in second half of the year.
With no surprises, the Federal Reserve decided to keep the current Fed Fund Rate between 1.0% and 1.25% as widely expected. Yet, what mattered the most as we said in yesterday’s article is the Balance Sheet trimming decision, Dot Plot and the economic projections.
The markets were calm today, before the US Federal Reserve announcing the interest rate decision. The economic calendar was not full of major economic events during the day, so the markets were looking to see what the Fed will release tonight
During the early morning hours of the European session, the UK Retail Sales figures were released, which came in much better than expected, sending GBP higher across the board.
Today's trading was fairly calm as markets awaited FED's decisions tomorrow, the FOMC meeting started today to discuss continuing tightening of monetary policy as well as the continued calm in the North Korean crisis that eased demand for safe havens.
Gold and Silver declined last week after three weeks of consecutive gains, posting new highs of this year, despite the fact that the estimates for both metals has been bearish at the beginning of this year.
The start of the week's trading was fairly calm, but it saw some notable movements in the US dollar as well as US stocks, which recorded their highest levels historically as market fears about North Korea firing a new missile faded and the focus shifted to the Fed meeting on Wednesday evening.
After a week full of economic releases, geopolitical tensions and high volatility, another week comes in with many key economic releases and events, which likely to have a notable impact on the markets.
The first trading day of the week is very calm, as Japanese banks were closed in observance of Respect-for-the-Aged Day. In addition, there were no significant economic releases in Europe. Furthermore, no significant economic figures will be released during the US session today.
The new week will see many important economic data and events that will have an impact on market movements in the coming period, most notably the FOMC meeting, the Bank of Japan meeting, and some central bankers' speech.
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