Markets will consolidate ahead of the Fed meeting
April 24, 2023 11:24 amVideo
Latest News
- Weekly Technical Outlook – GBPUSD, USDJPY, AUDUSD April 15, 2024
- Technical Analysis – Gold in a wait-and-see mode April 15, 2024
- UK inflation report could shift the market’s focus away from geopolitics – Preview April 15, 2024
- Gold Still Expected to Rise on Wall Street and Main Street April 15, 2024
- EUR/USD and GBP/USD: Technical analysis on April 15 April 15, 2024
- Analysis and trading tips for USD/JPY on April 15 April 15, 2024
- Analysis and trading tips for GBP/USD on April 15 April 15, 2024
- Analysis and trading tips for EUR/USD on April 15 April 15, 2024
- Hot forecast for EUR/USD on April 15, 2024 April 15, 2024
- Technical analysis of GBP/USD for April 15-20, 2024 April 15, 2024
- Technical analysis of EUR/USD for April 15-20, 2024 April 15, 2024
- Energy in Focus: What news awaits investors on Wall Street April 15, 2024
- Forecast for EUR/USD on April 15, 2024 April 15, 2024
- Forecast for GBP/USD on April 15, 2024 April 15, 2024
- Forecast for USD/JPY on April 15, 2024 April 15, 2024
- Outlook for EUR/USD on April 15. The euro is already falling for no apparent reason! April 15, 2024
- Trading plan for GBP/USD on April 15. Simple tips for beginners April 15, 2024
- Trading plan for EUR/USD on April 15. Simple tips for beginners April 15, 2024
- Euro will return to parity April 12, 2024
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
World stock markets ended the week with mixed dynamics, heavily influenced by corporate earnings releases. This clearly shows that the recent rate hikes have led to a slowdown in national economies and, as a result, prompted cautious actions from investors over the purchase of company stocks.
Interestingly, despite the existing uncertainty, markets are ending the month on a positive note, thanks to falling US inflation and statements from Fed representatives that interest rates should continue to be raised. That being said, the outcome of the Fed meeting on May 3 will play an important role.
Another key event is the release of important economic data such as the Personal Consumption Expenditures Price Index and the indicator for income and expenses. All this should show a continued decline, which fits perfectly into the trend of slowing inflation growth in the US.
If the data, as as well as the number of initial jobless claims presented this Thursday, turns out to be at least in line with expectations, then those who still want to raise rates may be convinced that it is time to take a pause. If that happens, following a 0.25% rate hike this May, the Fed may announce a pause or hint at such a decision.
Stocks will either remain in a sideways trend or try to grow weakly upwards. A similar dynamic may persist in the forex market. The ICE dollar index is more likely to continue consolidating in a fairly narrow range around 101.50 points.
Forecasts for today:
EUR/USD
The pair is currently trading above 1.1000. Expectations of further rate hikes from the ECB and a possible halt by the Fed may push the pair to further growth, initially towards 1.1075, and then to 1.1160.
GBP/USD
The pair is trading below 1.2465. If it rises above it, there is a chance of a limited growth to 1.2540.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: