U.S. Dollar Drifting Lower After FOMC Statement

The Federal Reserve continued to beat its inflation drum in its Monetary Policy Statement yesterday. The U.S central bank did not raise its interest rate and failed to give a firm timetable for its next hike, and it said inflation remains below expectations. The U.S Dollar weakened immediately after the Fed’s publication. Wall Street turned in cautious gains yesterday.

Yen Bounced as USD Weakened

The Yen has gotten stronger on the heels of the U.S central bank’s statement. Equity Indexes in Asia has seen slight gains on most exchanges, but remain tentative. Tomorrow important Consumer Price Index numbers will be published in Japan. The Shanghai Shenzhen composite has seen limited selling this morning, but remains positive over the last month of trading.

Euro and Pound Surge Higher, European Equities Positive

The Euro and Pound have gained well against the U.S Dollar. The Euro is trading comfortably above the 1.17 juncture against the U.S Dollar and will be monitored by investors closely. European equities turned in a positive performance on Wednesday and will get plenty of impetus today via corporate earnings reports.

Gold Breaks the 1,260 Resistance

Gold has added plenty of value the past day. The precious metal is testing the 1270.00 U.S Dollars an ounce ratio. Traders have proven to be buyers since the Federal Reserve’s rather dovish monetary policy statement. Speculation will remain strong in the Gold market today and tomorrow.

Yaron Mazor is a senior analyst at SuperTraderTV.

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