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FED Disappointed Markets
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Midday Market View
Europe’s auto stocks were on the skids again on Thursday after fresh data showed that the recovery in sales had gone into reverse in August. U.S. stocks are set to open sharply lower Thursday, with investors disappointed that the Federal Reserve decided against adding more stimulus to advance its goal of spurring inflation. Congress continues to struggle to reach a deal on a new coronavirus aid bill although President Donald Trump has injected some life into talks and thus some investors had hoped the Fed would carry out more of the heavy lifting by injecting more monetary stimulus. Oil prices fell Thursday, rebalancing after recent strong gains as producers in the Gulf of Mexico took steps to resume output in the wake of Hurricane Sally.
Midday Key Point
- Eurozone August Final CPI comes at -0.2% vs -0.2% y/y than expected
- EUR/GBP finds support ahead of BoE
- EUR/USD finding support at daily trendline
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus