Wall Street and Asian Markets Stumble After Fed Meeting

Fed Surprises No One, Global Stocks Fall

The U.S Federal Reserve kept its monetary policy in place on Wednesday and outlined the need to continue on its path of slow and gradual rate increases. The U.S central bank said the employment picture in the States is solid and believes inflation is approaching its stated target of two percent. Wall Street declined yesterday as investors continue to look at bond yields as a viable option. Asian equities have been negative this morning. Growth numbers from the European Union met their target yesterday but were rather lackluster. And important trade negotiations between China and the U.S will be getting underway soon and should be monitored.

U.S Dollar Does Not Gain After Fed, Euro & Pound Primed for Trading

The U.S Dollar did NOT climb to new highs after the Fed policy announcement late yesterday. Meaning some traders may begin to look for the potential of reversals, from major currencies like the Yen, Pound, and Euro. The U.K will release Services figures this morning, and Europe will release inflation data. However, neither report is likely to prove inspiring. But the fact that many major currencies are now close to critical support levels but did not fall again yesterday, may open the door for speculators who have a glimmer of hope they can profit from impending near-term gains against the U.S Dollar.

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Gold Withstands Tough Storm, Precious Metal Could Attract Speculators

The precious metal is trading near 1309.00 U.S Dollars per ounce this morning. And this level may begin to attract speculators who believe Gold has the ability to be testing higher values near term. The commodity may have withstood a rather tough storm and may have the ability to emerge again.

Services Data from U.K and U.S, Inflation Statistics from Europe

The U.K’s Services Purchasing Managers Index data could stir the Pound in forex upon its release at 8:30 GMT.

• 8:30 AM GMT, U.K, Services PMI
• 9:00 AM GMT, E.U, CPI Flash Estimate
• 14:00 PM GMT, U.S, ISM Non-Manufacturing PMI

Yaron Mazor is a senior analyst at SuperTraderTV.

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