Forex Today: Fed’s day
|What you need to know on Wednesday, May 10th:
Caution was the name of the game, as we approach the US Federal Reserve decision. Stock traders booked profits, particularly during European trading hours, with most major indexes ending the day in the red. Wall Street, however, ended the day mixed and not far from its daily openings. The greenback attempted a recovery as equities fell, but resumed its decline in the American session.
FOMC Preview: What else can the Fed do?
The EUR/USD pair trades near its multi-month high at 1.1384, while the GBP/USD pair hovers around 1.2730 little changed from Monday’s closing levels.
The Japanese yen was the strongest, lead by falling equities and government bond yields. USD/JPY trades near a daily low of 107.61 as US Treasury yields edged lower for a second consecutive day.
Gold also benefited from the worsening mood, advancing for a second consecutive day, although holding within familiar levels.
Crude oil prices seesawed between gains and losses but finished the day unchanged, with WTI just below $39.00 a barrel.
Cryptocurrency Market News: A new form of token sales is gaining popularity, Ethereum could benefit
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.