Market Sentiment in Neutral Ahead of FOMC Meeting | Webinar
Market sentiment analysis:
- Trader confidence is high on Wall Street, where the main stock indexes remain at or close to their record highs.
- However, other markets are more subdued ahead of Wednesday’s US monetary policy announcement by the FOMC.
- It won’t be making any changes but there will still be plenty of interest in what the Federal Reserve Chair says at his press conference after that announcement.
Traders wait for the Fed
Traders remain confident about the US stock markets, with several indexes at or close to their record highs. However, the FX and other markets are subdued ahead of Wednesday’s announcement on US monetary policy by the rate-setting Federal Open Market Committee.
Nasdaq Price Chart, Daily Timeframe (November 30, 2020 – April 27, 2021)
Chart by IG (You can click on it for a larger image)
The Federal Reserve is not expected to change any of its monetary policy settings but traders will still be listening out for any market-moving comments by Fed Chair Jay Powell at his press conference following the announcement of the central bank’s decisions.
In this webinar, I looked at the trends in the major currency, commodity and stock markets, at the forward-looking data on the economic calendar this week, at the IG Client Sentiment page on the DailyFX website, and at the IG Client Sentiment reports that accompany it.
--- Written by Martin Essex, Analyst and Editor
Feel free to contact me on Twitter @MartinSEssex
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.