Market Sentiment in Impartial Forward of FOMC Assembly

Market sentiment evaluation:

• Dealer confidence is excessive on Wall Road, the place the principle inventory indexes stay at or near their file highs.
• Nonetheless, different markets are extra subdued forward of Wednesday’s US financial coverage announcement by the FOMC.
• It gained’t be making any modifications however there’ll nonetheless be loads of curiosity in what the Federal Reserve Chair says at his press convention after that announcement.

Merchants look ahead to the Fed

Merchants stay assured concerning the US inventory markets, with a number of indexes at or near their file highs. Nonetheless, the FX and different markets are subdued forward of Wednesday’s announcement on US financial coverage by the rate-setting Federal Open Market Committee.

Nasdaq Value Chart, Each day Timeframe (November 30, 2020 – April 27, 2021)

Chart by IG (You’ll be able to click on on it for a bigger picture)

The Federal Reserve is just not anticipated to alter any of its financial coverage settings however merchants will nonetheless be listening out for any market-moving feedback by Fed Chair Jay Powell at his press convention following the announcement of the central financial institution’s selections.

On this webinar, I regarded on the developments within the main foreign money, commodity and inventory markets, on the forward-looking knowledge on the financial calendar this week, on the IG Shopper Sentiment web page on the DailyFX web site, and on the IG Shopper Sentiment reviews that accompany it.

— Written by Martin Essex, Analyst and Editor

Be happy to contact me on Twitter @MartinSEssex