{"id":123757,"date":"2018-03-21T07:15:51","date_gmt":"2018-03-21T11:15:51","guid":{"rendered":"http:\/\/countingpips.com\/?p=123757"},"modified":"2018-06-01T15:42:13","modified_gmt":"2018-06-01T15:42:13","slug":"powell-led-first-fed-meeting-concludes-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/03\/powell-led-first-fed-meeting-concludes-today\/","title":{"rendered":"Powell led first Fed meeting concludes today"},"content":{"rendered":"
March 21, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Energy shares lead US stocks recovery<\/h2>\n<\/div>\n<\/div>\n

US stock indices\u00a0<\/b>recovered Tuesday led by energy shares. The\u00a0S&P 500\u00a0<\/em>gained 0.2% to 2716.94.\u00a0Dow Jones<\/em>industrial average rose 0.5% to 24727.27. The\u00a0Nasdaq\u00a0<\/a>composite index added 0.3% to 7364.30. The dollar rebounded ahead of Fed decision: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, rose 0.6% to 89.906. Stock indices futures indicate higher openings today.<\/p>\n

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Rising crude oil prices lifted energy shares which led the stock market recovery after pullback following technology stocks selloff Monday. Federal Reserve\u2019s interest rate decision and Powell\u2019s first press conference following the conclusion of the policy meeting today will be in the focus today. Fed funds futures market is pricing in a 94.4% likelihood of a rate hike. Investors are on lookout for signs of more aggressive monetary policy stance. Policy makers may update their forecast for interest rate hikes in 2018 to four from three. They may also upgrade US economic outlook such as revise upward US growth forecast, at 2.5% annual rate now, as well as lower their unemployment forecast, currently at 3.9% and raise their expectations for core inflation, presently at 1.9%. A hawkish central bank stance will necessitate a re-pricing of risks for the economic growth which should be bearish for the stock market.<\/p>\n

\"NasdaqI\"<\/p>\n<\/div>\n<\/div>\n

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DAX leads European indices recovery<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>erased some of previous session losses on Tuesday as\u00a0euro\u00a0<\/em>weakened following a weak German business sentiment report. The\u00a0British Pound\u00a0<\/em>turned lower against the dollar. The Stoxx Europe 600 rose 0.5%. The German\u00a0DAX 30\u00a0<\/a>gained 0.7% to 12307.33. France\u2019s\u00a0CAC 40<\/em>\u00a0rose 0.6% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>added 0.3% to 7061.27. Indices opened flat to 0.2% higher today.<\/p>\n

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Euro retreated after the ZEW institute reported German economic sentiment index fell to below expected 5.1 in March, from 17.8 in February. Pound retreated after UK inflation in February slowed to 2.7% from 3% in January. That was below the 2.8% rate expected.<\/p>\n<\/div>\n<\/div>\n

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Asian markets mixed<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today. Japanese markets are closed for a public holiday marking the first day of spring. Chinese stocks are falling: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 0.3% and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 0.04% lower. Australia\u2019s All Ordinaries Index is up 0.2% as iron ore prices bounced back despite stronger Australian dollar against the greenback.<\/p>\n

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Brent\u00a0<\/a>slides<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are edging lower today. Prices jumped yesterday on rising tensions in the Middle East. The American Petroleum Institute late Tuesday report indicated US crude inventories fell by 2.7 million barrels to 425.3 million last week. May Brent rose 2.1% to $67.42 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Energy shares lead US stocks recovery US stock indices\u00a0recovered Tuesday led by energy shares. The\u00a0S&P 500\u00a0gained 0.2% to 2716.94.\u00a0Dow Jonesindustrial average rose 0.5% to 24727.27. The\u00a0Nasdaq\u00a0composite index added 0.3% to 7364.30. The dollar rebounded ahead of Fed decision: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-123757","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=123757"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123757\/revisions"}],"predecessor-version":[{"id":127188,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123757\/revisions\/127188"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=123757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=123757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=123757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}