Rally slows as markets look to Fed decision

Chris Beauchamp IG

The first Fed decision of Kevin Warsh's chairmanship looms large over markets, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.

Stocks cool as Warsh’s debut arrives

A new chief means markets face a degree of uncertainty for US monetary policy, and as a result the rally from last week continues to cool. Warsh’s enthusiasm for lower rates would normally be thought of as firmly positive, but his keenness on shrinking the Fed’s balance sheet casts a longer shadow. The US-Iran deal has given the new boy a big boost ahead of his first appearance, as a more convincing tale of falling energy prices can now be told, but even with this expectation there is more than an air of anticipation this afternoon.

UK supermarket stocks gear up for Tesco’s numbers

Today’s cooler-than-feared UK inflation figures are a welcome prelude to Tesco’s numbers tomorrow. 2025’s blistering rally continued in a more choppy fashion in 2026, but understandable concerns about UK consumer spending has blunted the charge of late. If energy costs keep coming down then shopping habits should improve, though the added uncertainty of a possible new PM clouds the outlook.

Author

Chris Beauchamp

Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.

Japanese Yen gains ground as traders await Fed rate decision

The USD/JPY pair loses ground to near 160.25 during the early European trading hours. Traders prefer to wait on the sidelines ahead of the US Federal Reserve interest rate decision under new Chair Kevin Warsh later on Wednesday.

AUD/USD stays pressured; holds above 0.7050 as traders await Fed decision

The AUD/USD pair struggles to capitalize on the previous day's hawkish Reserve Bank of Australia-inspired bounce and trades with a negative bias for the second consecutive day on Wednesday. Spot prices, however, hold above the 0.7050 level as traders opt to wait for the outcome of a two-day FOMC policy meeting before placing fresh directional bets.

Gold keeps the bid tone unchanged, looks at Fed

Gold extends its weekly recovery on Wednesday, re-shifting its attention to the $4,400 mark per troy ounce as market participants await fresh guidance from the Fed. With the FOMC policy announcement and revised economic projections due later in the day, traders are opting for caution, somehow limiting the yellow metal’s upside potential.

Crypto Today: Bitcoin, Ethereum, XRP trim breakout gains as focus shifts to Fed decision

Cryptocurrency prices broadly decline as investors show caution toward risk assets ahead of the Federal Reserve’s (Fed) interest rate decision on Wednesday.

Federal Reserve set to hold interest rates in Warsh's debut as chair

The United States Federal Reserve announces its interest rate decision on Wednesday, another pivotal meeting for markets to gauge the stance of policymakers and new Chair Kevin Warsh as energy prices retreat after the United States and Iran reached a framework deal to reopen the Strait of Hormuz.

Why a hawkish RBA is no longer enough to lift the Australian Dollar

The Reserve Bank of Australia delivered more than what markets expected: a hawkish hold that should have supported the Aussie. But markets widely ignored it, focusing instead on slowing economic growth and proving that central bank messaging alone isn’t always enough to drive currencies.