Dow gains ahead of Fed decision

Chris Beauchamp IG

Traders await this evening’s Fed decision with some trepidation, but Wall Street has managed to make gains so far today, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

US stocks rise ahead of Fed meeting

Stock markets have found their footing after a mixed morning, but all eyes are on the Fed meeting tonight and the accompanying statement. The first half of the month has seen US markets struggle, but there is still plenty of space for the usual second half rally to develop, should we avoid any nasty surprises from Powell and co tonight.

Oil prices rise for a second day

The first part of the week seemed to suggest that oil markets were set to turn lower, but a drop in crude inventories and hopes of more concrete signs of Chinese stimulus have helped prices to rally today. Yesterday’s API data also showed a fall in stockpiles, providing hope of at least a short-term bump in demand.

Author

Chris Beauchamp

EUR/USD plummets to 1.1840 on US NFP

EUR/USD’s selling momentum now picks up pace and rapidly hits the 1.1840 region on Wednesday. Indeed, the pair’s decline comes amid rising buying pressure on the US Dollar in the wake of firmer-than-expected results from US NFP in January.

GBP/USD approaches 1.3600 on USD-buying

GBP/USD adds to Tuesday’s pullback and trades closer to the 1.3600 support on Wednesday. That said, Cable’s extra downside traction comes against the backdrop of renewed strength in the Greenback as investors assess the latest US NFP data.

Gold trims gains post-NFP, targets $5,000

Gold rapidly reverses initial gains and retreats to the vicinity of the $5,000 region per troy ounce amid further gains in the Greenback and rising US Treasury yields, all following the latest US NFP readings.

Ripple Price Forecast: XRP sell-side pressure intensifies despite surge in addresses transacting on-chain

Ripple (XRP) is edging lower around $1.36 at the time of writing on Wednesday, weighed down by low retail interest and macroeconomic uncertainty, which is accelerating risk-off sentiment.

US jobs data surprises to the upside, boosts stocks but pushes back Fed rate cut expectations

This was an unusual payrolls report for two reasons. Firstly, because it was released on Wednesday, and secondly, because it included the 2025 revisions alongside the January NFP figure.

Bitcoin price slips below $67,000 ahead of US Nonfarm Payrolls data

Bitcoin price extends losses, and trades below the lower consolidating boundary at $67,300 at the time of writing. A firm close below this level could trigger a deeper correction for BTC. Despite the weakness in price action, institutional demand shows signs of support, recording mild inflows in ETFs so far this week.