The Fed is widely expected to reduce interest rates by 25 basis points to a target range of 4.25%-4.50%. Yet, the market’s reaction is likely to hinge on the updated economic projections and Powell’s commentary on future policy direction.
In currency markets, the U.S. dollar edged 0.2% higher, with the DXY index breaking above 107, its highest level in three weeks. Treasury yields were steady, with the 10-year yield holding at 4.40% as traders awaited the Fed’s decision.
Commodities presented a mixed picture: gold slipped 0.4%, while WTI crude gained 1.2%, supported by a larger-than-expected drawdown in U.S. crude inventories.
The cryptocurrency market took a breather after recent strong gains, with Bitcoin (CRYPTO: BTC) down 1.8%, trading below the $105,000 mark.
Wednesday’s Performance In Major U.S. Indices, ETFs
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Wednesday’s Stock Movers
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