{"id":171928,"date":"2020-06-10T11:05:50","date_gmt":"2020-06-10T15:05:50","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=171928"},"modified":"2020-06-10T11:05:50","modified_gmt":"2020-06-10T15:05:50","slug":"today-the-us-fed-regular-meeting-is-to-be-held","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/06\/today-the-us-fed-regular-meeting-is-to-be-held\/","title":{"rendered":"Today the US Fed regular meeting is to be held"},"content":{"rendered":"
June 10, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

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Top daily news<\/h2>\n
The dynamics of dollar index, stock markets and precious metals may be affected by the results of today’s Fed meeting. No rate changes are expected. The direction of the movement of quotes may depend on whether the US regulator announces new, additional stimulus measures to support the American economy or keeps its monetary policy unchanged. Reputable international organizations started publishing pessimistic forecasts of the global economic downturn for 2020.<\/div>\n<\/div>\n<\/div>\n
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Forex news<\/h2>\n
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\n\n\n\n\n\n\n
Currency Pair<\/td>\nChange<\/td>\n<\/tr>\n
EUR USD<\/td>\n+0.15%<\/td>\n<\/tr>\n
GBP USD<\/td>\n+0.13%<\/td>\n<\/tr>\n
USD JPY<\/td>\n-0.33%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
The US dollar index continues to fall ahead of today’s Fed meeting. In less than 3 weeks, it has already fallen by almost 4%. There are several reasons for this: mass protests of African-Americans in the United States,\u00a0Fed emissions and soft monetary policy, as well as the ongoing Covid-19 pandemic. Market participants do not expect a Fed rate cut. Any optimistic statements by its representatives may support the dollar. Also today at 13-30 CET the USA inflation data for May is expected to be released, the outlook is positive. In the morning, China reported a decrease in May inflation, which was more significant than expected. This helped to strengthen the renminbi, as well as the Australian and New Zealand dollars. Michel Barnier, the EU\u2019s negotiator for Brexit, is expected to make a statement today. It may affect the British pound if any new information appears. Let us recall that Britain withdrew from the European Union in February and the pound\u2019s exchange rate collapsed. Now it has got most of its losses back. Now he\u2019s got most of his losses back. Until December of this year, the transitional period for Brexit will continue, during which the parties must settle their mutual obligations.<\/div>\n<\/div>\n<\/div>\n
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Stock Market news<\/h2>\n
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\n\n\n\n\n\n\n\n\n
Indices<\/td>\nChange<\/td>\n<\/tr>\n
Dow Jones Index<\/td>\n-1.09%<\/td>\n<\/tr>\n
S&P 500<\/td>\n-0.78%<\/td>\n<\/tr>\n
Nasdaq 100<\/td>\n+0.29%<\/td>\n<\/tr>\n
GB 100 Index<\/td>\n-2.69%<\/td>\n<\/tr>\n
DE 30<\/td>\n-2.35%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
There was no single trend in the US stock market on Tuesday. The high-tech Nasdaq index rose, while the remaining indices fell. Apple Inc shares rose in price by 3.2% and Microsoft Corporation – by 0.8%. Yesterday they updated their historical highs. Nasdaq 100 first tested the psychological level of 10,000 points, but could not gain a foothold there. Two influential international organizations, the World Bank and the OECD (Organization for Economic Cooperation and Development), published very pessimistic forecasts of world GDP for the current year. The World Bank expects a global economic downturn of 5.2%, while the OECD expects global GDP to fall by 6% or 7.6%, depending on whether the 2nd wave of the coronavirus pandemic occurs or not. This may limit stock market growth. In the meantime, the global MSCI world stock index soared by 45% from its 4-year low in March this year.<\/div>\n<\/div>\n<\/div>\n
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Commodity Market news<\/h2>\n
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\n\n\n\n\n\n
Commodities<\/td>\nChange<\/td>\n<\/tr>\n
WTI Crude<\/td>\n-1.17%<\/td>\n<\/tr>\n
Brent Crude Oil<\/td>\n-1.07%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
Oil quotes are declining slightly for the 3rd day in a row. At first, investors took profits after the previous growth because OPEC + extended the existing restrictions only until the end of July, and not until the end of September, as was expected. Forecasts of the global economic recession in 2020 from the World Bank and the OECD became an additional factor in the cheapening of oil. In mid-April, the IMF published its forecast for the global GDP decline by 3% this year; it can be revised upwards. Independent American Petroleum Institute (API) expects an increase in oil reserves in the US over the past week by 8.4 million barrels. This may be an additional negative for oil quotes. The Energy Information Administration (EIA) will release official data, as usual,\u00a0today at 15-30 CET.<\/div>\n<\/div>\n<\/div>\n
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Gold Market News<\/h2>\n
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Metals<\/td>\nChange<\/td>\n<\/tr>\n
Gold<\/td>\n+0.98%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
Gold is rising in price for the 3rd day in a row. This is facilitated by the weakening US dollar and negative forecasts of a global recession from reputable international organizations. The Fed meeting\u00a0results may adversely affect the dynamics of precious metals, if the US regulator does not announce new, additional measures to stimulate the economy.<\/div>\n<\/div>\n<\/div>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n

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 Top daily news The dynamics of dollar index, stock markets and precious metals may be affected by the results of today’s Fed meeting. No rate changes are expected. The direction of the movement of quotes may depend on whether the US regulator announces new, additional stimulus measures to support the American economy or […]<\/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-171928","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171928","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=171928"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171928\/revisions"}],"predecessor-version":[{"id":171930,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171928\/revisions\/171930"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=171928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=171928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=171928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}