{"id":131148,"date":"2018-08-01T07:58:06","date_gmt":"2018-08-01T11:58:06","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=131148"},"modified":"2018-08-01T07:59:46","modified_gmt":"2018-08-01T11:59:46","slug":"fed-expected-to-leave-rates-unchanged-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/fed-expected-to-leave-rates-unchanged-today\/","title":{"rendered":"Fed expected to leave rates unchanged today"},"content":{"rendered":"
August 1, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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S&P 500 logs 4th straight monthly gain<\/h2>\n<\/div>\n<\/div>\n

US stock indices\u00a0<\/b>rebounded on Tuesday as the two-day Fed policy meeting started. The\u00a0S&P 500\u00a0<\/em>ended 0.5% higher at 2816.29, with eight of the 11 main sectors finishing higher. The broad market index rose 3.6% over month, the fourth straight monthly gain.\u00a0Dow Jones\u00a0<\/em>industrial average added 0.4% to 25414.78. The\u00a0Nasdaq\u00a0<\/a>composite index rose 0.6% to 7671.79. The dollar also rebounded: 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 0.2% to 94.527 and is higher currently. Stock index futures indicate mixed openings today.<\/p>\n

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The Fed will release a statement at 20:00 CET today, there will be no press conference by Fed chair Powell or new economic forecasts. The central bank is expected to hold rates steady in the range between 1.75% and 2% and restate that more rate hikes are coming, as soon as the Fed\u2019s next meeting on September 25-26. Policy makers\u2019 interest rate projections at Fed\u2019s last meeting showed central bank officials expect two more rate hikes this year and three in 2019. Trade war concerns were highlighted by news that the Trump administration made little progress in resolving its trade dispute with China. Economic data were positive: inflation remained at 2.2% in June, the 0.4% gain in June consumer spending was solid, in line with expectations. The employment cost index rose 0.6% in the second quarter, missing the 0.7% increase forecast.<\/p>\n

\"SP500\"<\/p>\n<\/div>\n<\/div>\n

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FTSE 100 leads major European indices recovery<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>recovered Tuesday helped by positive corporate earnings reports. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u2019s<\/em>turned lower against the dollar and are down currently. The Stoxx Europe 600 gained 0.2% in a choppy session. The GermanDAX 30\u00a0<\/a>added 0.1% to 12805.50. France\u2019s\u00a0CAC 40<\/em>\u00a0gained 0.4% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>rose 0.6% to 7748.76. Indices opened mixed today.<\/p>\n

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Swiss lender Credit Suisse\u2019s better than expected earnings report was the highlight of positive corporate reports: company\u2019s second-quarter net profit more than doubled to 647 million Swiss francs, beating expectations of 596 million Swiss francs. In economic news euro-zone inflation for July rose to 2.1% from 2% in June. Inflation was expected to remain steady at 2% year-over-year.<\/p>\n<\/div>\n<\/div>\n

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Chinese shares lead Asian indices losses<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly lower today after late Tuesday reports the US plans tariffs of 25% on $200 billion in Chinese imports.\u00a0Nikkei\u00a0<\/em>however gained 0.9% to 22775.47 as the yen continued to retreat against the dollar. Chinese stocks are falling as Caixin China manufacturing PMI hit 8-month low: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 1.5% and Hong Kong\u2019sHang Seng ndex\u00a0<\/em>is 0.6% lower. Australia\u2019s All Ordinaries Index is down 0.1% despite Australian dollar\u2019s turn lower against the greenback as data showed a slowdown in manufacturing activity in July with.<\/p>\n

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Brent\u00a0<\/a>down on US stocks unexpected build<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are extending losses today on easing of Iranian oil concerns and expectations of rising US crude stocks. The American Petroleum Institute reported late Tuesday that US crude inventories jumped unexpectedly by 5.6 million barrels. Prices ended lower yesterday: September Brent fell 1% to $74.25 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n

Market 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 S&P 500 logs 4th straight monthly gain US stock indices\u00a0rebounded on Tuesday as the two-day Fed policy meeting started. The\u00a0S&P 500\u00a0ended 0.5% higher at 2816.29, with eight of the 11 main sectors finishing higher. The broad market index rose 3.6% over month, the fourth straight monthly gain.\u00a0Dow Jones\u00a0industrial average added 0.4% to 25414.78. […]<\/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-131148","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131148","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=131148"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131148\/revisions"}],"predecessor-version":[{"id":131152,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131148\/revisions\/131152"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=131148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=131148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=131148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}